A home is one of the few things we can purchase that can actually increase in value as it gets older. The more improvements we make, the more equity we gain in our investment and the greater the return we can realize if and when it’s sold. If you’re trying to think of new home improvement ideas that will help you boost the value of your home, here are a few suggestions from our home remodeling experts.
Kitchen Remodel – Redoing a kitchen is one of the most common home improvement projects and for good reason. While they can be costly, depending on how much you’re looking to remodel, according to HGTV, you can expect to see anywhere from 60% to 120% of a return on your investment. That is, of course, assuming you hire a skilled home improvement contractor that does the job right.
Bathroom Addition – For homes that currently only have one bathroom, adding a second could boost your home’s value and allow you to recoup anywhere from 80% to 130% of what you spend on the addition project. Not sure whether you have the space for such an addition? Consider any rooms in your home that are unused or underutilized. Of course, as with any home remodeling project, the cost will ultimately depend on what you want the final product to look like.
Remodel an Existing Room – You may be tempted to take on a huge project, such as expanding the size of an existing room, but be aware that these types of undertakings can quickly become much more expensive than originally anticipated. Consider instead reinventing an existing space, such as finishing your basement or converting your garage into an office or family room. These types of home improvement projects are much less expensive but can still have a significant impact on your home’s value.
New Windows – Older windows cause drafts and other costly problems, but having newly installed, quality windows can be an attractive selling point to a potential buyer. In the meantime, even if you’re not yet ready to sell, replacement windows can significantly lower the cost of energy, which means more cash in your pocket. In many cases, they practically pay for themselves!
New Deck – Remember – home improvement projects aren’t just for your home’s interior. You can also dramatically boost the value of your home and property with deck addition. In fact, HGTV estimates that homeowners can potentially recoup anywhere from 65% to 90% of what they invest into a deck addition, so if you’ve got the space and the budget, it could be well worth considering.
Of course, for just about all of these projects, it’s wise to hire an experienced home improvement contractor to ensure that all the proper requirements are met. After all, the goal is to create more value from your home, which means the projects you take on have to be done right. If you’re thinking about tackling one of these or any other home remodeling project, give us a call and let’s talk about how we can help make it happen!