There are so many reasons you may want to renovate your home. The project may be aimed at creating more space, making your home more appealing, or in preparation for placement for sale.
Each of these reasons are sound and sensible, but it is important that they add value to your home.
Spending money for any reason without having an increase in value does not make sense from an economic perspective, and you should never embark on uneconomical projects.
Determining the value of a renovation project will add to your home may not be very easy. So many homeowners erroneously assume that any renovation project will increase the value of their home.
This is not always true, as some attempts at renovation only improve peripheral appeal without adding significant underlying value.
Some projects, in fact, may drive down the number of prospective buyers, especially in a down market or middleclass neighborhood.
A swimming pool, for instance, will increase the maintenance cost of a home and may scare away buyers, leading to a drop in the value of your property.
In choosing the right renovation project to embark on, there are a lot of things to consider such as the impact of the renovation on the cost of maintenance, the solution the project offers to residents, and the cost effectiveness of the project.
In this article, we will walk you through some renovation ideas that will add real value to your home.
Kitchen and Bathroom Refit
For so many people, the kitchen is the most important part of the house. It is, after all, the place that determines the health and nourishment of the entire family. The kitchen is the first place most home buyers will check out when considering buying a house.
Kitchen remodeling is also a very easy and cheap renovation project – you don’t need to spend a fortune to change the look of your kitchen and make it more efficient and appealing.
If your kitchen is in good shape, there are some basic fixes you can make instead of total remodeling. You can paint the cabinet, change the worktops, and add new handles to cabinets and drawers.
Bathrooms are also considered among the most important rooms in a home. Many individuals cannot stand a poor bathroom. If you are aware that the number of bathrooms in your home is inadequate, consider the possibility of adding another bathroom.
If this is not the case, make sure that the bathrooms in the home are in great shape. You don’t have to spend too much on the bathroom, but make sure it is convenient enough.
Garage
A garage is an extremely important aspect of a home. A house without a garage is not considered secure enough and most buyers will not consider buying such a house.
A garage offers additional security for your automobiles and protect them from the elements of weather.
They can also be used to store other important properties. Garages are very wonderful additions to buildings and will increase the value of your home.
Consider adding a garage if you don’t have any, or get a carport at least. In addition to offering further security and increasing the value of your home, a garage will significantly reduce your car insurance premium, and most home buyers know this.
Deck Installation
Outdoor living spaces are becoming more desirable these days. They offer a number of benefits, including a relaxation spot within the home, a place to host and entertain visitors, and aesthetic appeal.
Deck installation projects are normally easy, take very little time, and are generally inexpensive considering the value they add to your home. With a nicely installed deck, you will enjoy a lot of benefits and any prospective buyer will be willing to pay more for the property.
If you have any form of construction experience, you can take up the project yourself. By doing the work yourself, you can save more.
However, it is often better to hire wooden decking companies to do your deck installation project. In any case, adequately shop around before deciding on the contractor to hire.
Create Extra Space
Everyone likes extra space. Home buyers will appreciate it if a home is spacious enough. Some renovations of this nature may require some form of safety certification.
You can knock through non-structural walls to open up extra spaces in the house. When hallways or kitchen are spacious enough, they become brighter and more ventilated.
The extra space can also be a storeroom. Every household needs some space to store important items. A home without a convenient storeroom will be less attractive.
However, this is a tricky form of renovation and you must be very careful with it. Seek the advice of technically inclined experts and get a certificate of compliance.
Nevertheless, the project is an inexpensive one, though it is sure to add significant value to your home.
Add an Energy-Efficient System
The cost of electricity is getting higher by the day and people now shop for homes with energy efficiency in mind. If you can make your home more energy-efficient, it will appeal to a number of buyers and increase its market value.
Some energy saving projects you can embark on include insulation and air sealing, lighting and daylighting, space heating and cooling, water heating, windows, doors, and skylights.
Energy star rated windows, for instance, can save a household lots of heating and cooling costs. You may have to seek the expertise of an energy auditor to determine improvement and potential savings you can achieve after the project.
Also consider the value the project will add to your home if you are considering selling the home immediately.
Cottage
Adding a cottage to your home is another renovation project that will significantly improve its value. Cottages and outside rooms, no matter their sizes, will significantly increase the value of your home.
For households that live with domestic workers, cottages can be a great attraction. The rooms can equally be rented out to generate extra income for the family or used to store some household items that may not be accommodated in the main place of residence.
When planning to put your home in the market, it is important that you carry out some renovation projects to give your home a facelift.
It is important that you only embark on projects that will add value to your home and increase what you can get for it. The six projects above are some of the best projects that will significantly increase the value of your home.