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Nowadays, a lot of homeowners are investing in a home remodeling project. It’s easy to see why this is the case, as remodeling a home provides its owners a lot of benefits. For starters, it’s a good way to turn a boring home into an exciting one. Let’s face it. Living in the same home that has looked that way for years can get boring. You get used to it, that it doesn’t excite you anymore.
On the other hand, there are the homeowners that remodel out of necessity. Obviously, solving this need provides a benefit. For example, remodeling a home by adding a room can help solve the problem of cramped space. It improves the quality of living inside your home. Or maybe the leak in the roof could no longer be responsibly repaired. Or maybe you simply want your home to have the same appeal as some of these buildings.
Increase your Home’s Value
There are also remodeling tips to increase your home’s value. You should keep these tips in mind because by following these tips, you get to maximize your investment. Yes, a home remodeling project is quite a significant investment, so you have to make sure that it increases your home’s value so you’ll be able to recoup a good part of your investment later on.
Follow these Tips
Make the most out of your investment by following these tips:
Make sure that you’ll enjoy the benefits of a home improvement project.
The benefits you’ll get will depend on the specific project. But generally speaking, a home improvement project can provide the following benefits:
Comfort, improved energy efficiency, increased space, avoiding future expensive repair and maintenance costs, improved curb appeal, improved morale of the family
They are just some benefits but you can already see why homeowners invest in a home improvement project. This is why the most important tip is to ask yourself if the project that you’re about to undertake will provide the benefits listed above. These benefits can help increase the home’s value because potential homebuyers will appreciate them. At the very least, your whole family can enjoy the benefits.
Consider improving your bathroom and kitchen.
Most potential homebuyers will ask you this question when they’re checking out your house – “Can we see your bathroom and kitchen?” It’s because these rooms are very important. Improving them can drastically improve the value of the whole house. The number and sizes of the bathrooms and the appearance of your kitchen can make or break a sale.
Let’s take the bathroom for example. Remodeling a bathroom will increase the value of your home in such a way that you’ll be able to recoup 70% of your investment, on average. While adding a bathroom has a lower percentage when it comes to cost recouped (almost 58%), your family can benefit from it now and it’s never a bad thing for a potential buyer. This means that it can increase the chances of you selling your home.
Even a minor kitchen remodel goes a long way. An investment of a little over $19,200 will increase your house’s resale value by a little over $15,200.
Replace your garage door.
On average, replacing your garage door will cost you around $1,600. While that may seem expensive, you have to consider that it can help you recoup 88.4% of your investment because it increases the resale value of your house by around $1,400. Those are amazing returns and as a bonus, you’ll have a better-looking and better-functioning garage door!
Improve your home’s curb appeal.
First impressions matter. This is why you have to work on the curb appeal of your house. This help potential buyers fall in love with your home before they even step foot inside your house.
One of the best ways to do this is to replace your siding. Vinyl siding is a safe choice and most contractors will tell you that it’s one of the best siding options out there. Replacing your siding will cost you around $12,000. While steep, you have to consider that it will increase the resale value of your house by around $9,700.
Add a garage.
A garage is a necessity, especially if you have a car. Depending on where your house is located – whether people drive or walk/take the cab – you can consider adding a garage. Just make sure that you take into consideration what you’re going to use it for. While a garage can increase the resale value by almost $34,000 for almost 65% cost recouped, you should make sure that you can benefit from it now so add a garage that can satisfy your family’s needs and wants in a garage.
Yes, garages are not just for cars anymore. People all over the US use their garage as a workstation, extra storage space, man cave, gym and more.
Just make sure that the garage is seamlessly added to the rest of the home. It should complement and not contrast with the rest of the home. This can also help with your home’s curb appeal.
Get a two-story addition.
If you have the money to invest in a two-story addition (around $162,000), you can increase the resale value of your home by almost $104,000. This is obviously a huge project so make sure that you hire a good contractor for it. Do it right and your family can enjoy a bigger and better house and you can recoup a good part of your investment later on when you sell your home.
Hire a Good Remodeler
There are a lot of contractors that you can hire for your project. It’s very important that you choose a contractor that specializes in the project that you want. For example if you want to remodel your bathroom, hire a bathroom remodeling contractor.