Renovating and remodeling can help you gain space in your home or make your home more enjoyable to live in, but do they always add resale value? Not every project does. Sometimes the best reason to tackle a big project is to make your house your home. But if you are looking to add resale value, read on to see what projects may add value and which may not.
Projects that May Add Resale Value
Kitchens: Modern conveniences in a kitchen are a big plus to home buyers, especially when they are found in older homes. Notice how many real estate ads talk about the modern kitchen? That is not a coincidence. If you’re not ready to invest in a full remodel, sand and paint existing cabinets. New appliances can also add appeal.
Bathrooms: These come in second to kitchen renovations. Modern styles and appliances in bathrooms are a plus. Remove dated wall coverings and apply a fresh coat of paint for an easy fix. A bigger ROI comes with a new tub, sink and toilet, and tile in the tub and on the floor.
Outdoor improvements: Curb appeal is important to home buyers. Sprucing up the outdoor appearance is a smart investment. This included sprucing up the siding and landscaping. A splash of color in the front of the house will catch the eye of potential buyers. For a bigger impact, use one color and a variety of plant heights. If your shrubbery is overgrown, sheer it up!
Roofs and windows: Roofs and windows are expensive and home buyers like them to be in good condition. Though replacing them is costly and may not increase the value of your home, not replacing them could significantly decrease the value of a home.
Are there projects that could negatively affect your home’s value?
Adding a swimming pool, putting in a luxury upgrade, or converting a garage may cost you if the only reason you are doing this is to add value to your home. But if you’re planning to stay in your home and enjoy yourself, these projects may make you feel like you are living at a resort.
Whether you plan to stay in your home or you plan to move. Make the most out of your home improvement projects.