Maybe you have plans to move from your current house soon; maybe you don’t. If you don’t have plans, you never know when you might have to move for work or other reasons. Either way, keeping in mind these few tips when doing a renovation can increase home value. Even if you never move again, doing a home remodel can simply provide upgrades, which is of great value to you.
Doing small and simple upgrades in your home can go a long way. Changing a paint color or updating the hardware on your cabinets in the bathrooms or kitchen can make a big difference. Always keep your yard and house clean. Even adding a tree or a few flowers in the yard will show that your house has been taken care of. The curb appeal can have a large impact on most people.
Consumer Reports stated: “Lowering your home’s energy costs will save you money for as long as you live there and is expected to be a major selling point down the line. Indeed, “energy-efficient” was second only to “safe community” on the list of attributes that would most influence a purchase decision, according to a 2015 survey by the National Association of Home Builders.” It can be as simple as switching to all LED lights, getting a smart thermostat, or Energy Star certified windows. These things can benefit you if you continue to live in your house, and they are a great selling point for home buyers if you decide to move.
Bathrooms have a lot of wear and tear because they are used so frequently in the home. The two rooms that can make or break a home sale are the kitchen and the bathroom. You can update tile, get a new vanity, and add a fresh coat of paint all for a relatively cheap price, but for a great return. It’s also important to keep in mind that if you only have one bathroom in the house, it will be a great investment to add a bathroom rather than to redo the current one that you have. Either of these ideas is an important way to increase home value.
According to DIY Network, “Hands down, one of the biggest returns on investment comes from a kitchen remodel. Most experts agree that if you plan on updating only one room in your home, it should be the kitchen. Large, open kitchens have become the social hub of the modern home. High-end touches like granite countertops, richly stained custom cabinets and energy-efficient stainless appliances are the gold standard in modern kitchens. Experts agree that kitchen remodels return an average of 80 to 85 percent of every dollar spent. You can expect an even higher return if you are remodeling a really outdated kitchen.” The kitchen is a great place to consider remodeling because whether or not you plan to sell your house, it is the place in the house that brings people together. Anytime visitors are at your home, you will have the space and capacity to entertain, and prepare and serve food.
Increase Home Value
Whether considering an upgrade or a move, keep these ideas in mind. According to US News, “Remodeling from the perspective of looking at it from an investment strategy is a terrible model. What we can’t quantify is the value of lifestyle.” If you do the upgrades than you know you would appreciate while living in your house, that is the type of remodel you should do in the event that you may need to move. Your lifestyle is likely to speak similarly to another person’s lifestyle. Following this strategy is the best way to increase home value.