If you are looking for a way to boost the value of your property, consider a home renovation. An addition to your home can drastically boost its value, sometimes in excess of what the project cost. Let’s take a look at a few home renovations that are worth the investment.
A Bathroom Addition
If your home is limited to a single bathroom, it won’t be that attractive to potential buyers. You can increase your property’s value with the addition of a second bathroom. If you are concerned that your home lacks the space for a second bathroom, don’t give up! Analyze all of your homes underutilized spaces and extra rooms to find a way to make this project happen. A half-bath will require at least 18 feet. Perhaps there is an area under your stairs or a closet that will provide just enough space for this valuable addition.
Kitchen Remodeling
The kitchen really is the heart of the home. Remodel your kitchen and you will likely recoup a substantial amount of the money. Some homeowners who shell out for a kitchen remodel actually make money on the project when selling their homes. You don’t have to make your kitchen uber-fancy to increase the home’s value. Rather, a newly remodeled kitchen that looks better than competing homes in surrounding neighborhoods will suffice.
Add Energy Efficient Insulation
A home that lacks basic insulation will let an abundance of cold and hot air into your living space. Update your home with energy efficient doors and windows and it will reduce your utility bills while simultaneously spiking the value of your home. Be sure to seal any cracks you find as well. If you’re concerned about the cost of such a project, keep in mind that the addition of extra insulation might only cost a couple hundred dollars.
Create More Open Space
Adding an open space to your home really can do wonders for its value. Knock out a wall that is non-structured to open up a considerable amount of space. This newfound space will generate an improved sense of flow, transform the feel of the house and attract plenty of interest from prospective buyers when you eventually put your home on the market.
Deck Addition
The addition of a deck along the back portion of your home will make your home that much more desirable to prospective buyers. Nowadays, more people are staying at home for their vacations so the addition of a backyard deck has the potential to significantly improve the value of your home.
A Room Addition
Something like a sun room or even an apartment above your garage can add considerable value to your home. You will obtain both utility and enjoyment out of a room addition yet it will also boost your home’s re-sale value when the time comes to sell. If you add a small apartment and find a tenant, his monthly rent will eventually pay for the project’s cost across posterity while simultaneously improving your property’s value.