Which Renovations Add the Most Value to My Home?
Thursday, April 17th, 2014
For many homeowners, renovating has the two-fold benefit of making a home more enjoyable to live in and adding monetary value – if you choose the right renovation, that is.
When making an investment in your home, you want it to provide a maximum return.
Recently, the value of over thirty home renovations was reviewed and, as it turns out, not all offer the best return if you plan to sell your home in the future. According to Remodeling Magazine, the following projects add the most value to your home.
Kitchen
As one of the most frequented rooms in a home, the kitchen is a wise place to start when planning a remodeling project. From countertops and backsplashes to new flooring and lighting, remodeling a kitchen can add a new sense of appeal and style to your living space.
When comparing the return on remodeling projects, kitchens were near the top of the list. Statistics also show that the right flooring can add more than $2,000 to the value of a home, particularly when hardwood is used.
Finishing a Basement or Attic
Remodeling your basement or attic is another way to ensure a better return on investment. Transforming these areas of “storage space” into functioning rooms adds square footage to your home, which significantly increases its overall value.
Basements are ideal for creating another bedroom, a game room, or a den, while attics make cozy bedrooms and studios. For homeowners with children, an attic provides the perfect opportunity for an in-home playhouse.
Adding or Remodeling a Bathroom
Creating additional space with home renovations is a safe bet when your goal is to elevate the value of your home. As one of the busiest rooms in any building, the bathroom is also ideal for remodeling projects. Everything from new hardware to spacious bathtubs can be included in your new bathroom, providing a relaxing oasis without the need to leave home.
With energy efficiency and technology continuing to improve, remodeling a bathroom, or even adding one, is the perfect way to add value to your home while installing energy and water-saving appliances
Install a Deck
Outdoor decks are beautiful additions to a home that can often be completed in a relatively short time. Because they enhance your home’s outdoor space, decks are attractive features to those in the market for a new home. The home improvement experts at HGTV estimate that decks are responsible for up to a 90% recoupment rate of a homeowner’s investment. Not to mention, a deck is the perfect place to spend time outside in the sun – potentially saving thousands in family vacation costs.
Increasing the enjoyment of your home through a remodeling project can benefit your quality of life as well as your home’s resale value. Before choosing a renovation project, make sure to research which improvements will provide the most benefit in the short and long-term.
At McCamy Construction, we want you to choose the remodeling option that provides the best value while enhancing your living experience. For home remodeling ideas and inspiration, visit our virtual gallery featuring custom interior and exterior remodels.
Any suggestions how does these cost? Can you write anything for faucets?