Remodeling can be a major task, whether getting ready to relocate or just wanting to modernize your house. So, you must consider whether such an endeavor will be worthwhile. You must also consider which improvements will pay for themselves the quickest. This will allow you to demand a better price when it’s time to list your home on the market. But before you start renovating your home, you must first consider the cost and value of every specific project and decide if it is the right use of your time and resources.
Home renovation projects are available in all shapes and sizes, from full-scale renovations to minor upgrades. However, one thing is certain: every project comes with its own cost and potential returns. So, what improvements have the most effect on a home’s value? Let’s take a look.
1. Finish Your Basement
Although finishing a basement is a difficult job, prospective buyers consider a property’s useable square footage when purchasing a home. The value of your house can increase significantly with the addition of a completed basement, but you must ensure that it is adequately moisture-proofed and insulated. Also, keep in mind that this project requires many permits.
Here, hiring a professional home remodeler like the Legacy Remodeling Company will be a better idea than taking a DIY approach. These professionals have the necessary equipment to finish your basement without any hiccups. Plus, the contractor will ensure they apply and obtain the necessary permits and permission to perform this type of home renovation project.
2. Boost Your Home’s Curb Appeal
Initial impressions matter. You can add a new walkway or simply scrub your home’s siding to improve its curb appeal. Effectiveness does not necessarily need high cost. Furthermore, a quick and affordable option to quickly enhance the appearance of your house is to install a new front door. You can also prune your shrubs and mulch the bushes and trees for a final appearance.
However, don’t overdo it. The only thing you actually need to increase the “wow” factor is a well-kept yard and some strategically planted greenery.
But, if you want to take on major renovation projects to improve your home’s curb appeal, consider hiring experts. These professionals know what goes into renovations, such as installing new pavements or replacing sidings. They also have the right tools and equipment to ensure everything is installed or repaired professionally.
3. Make Your Home More Energy Efficient
A home inspector will notice if your home has inadequate insulation or drafty windows and doors. All of this increases energy use, which costs the homeowner money. Start with easier updates, such as increasing your attic’s insulation. Also, caulk the crevices around electrical outlets, light switches, windows, and doors to reduce energy losses.
Drafty single-pane windows can also drive away potential purchasers. So, installing Energy Star-rated windows saves money on cooling and heating expenses. In fact, you will also be eligible for a green energy tax credit if you upgrade to an Energy Star-rated product.
Of course, window replacements may not considerably increase your asking price because home buyers expect windows to be in good condition before they make a purchase. However, failing to replace them can certainly make things worse.
4. Don’t Forget to Focus on Your Deck
Adding a deck to your home is another worthwhile renovation project you should consider undertaking, and for a good reason. Decks improve the living space while costing less to build per square foot. For instance, according to Remodeling Magazine’s Cost vs. Value analysis, a manufactured stone veneer deck costing around $11,307 will recuperate 102.6% of its value at sale in the East North Central region of the United States. Moreover, a composite deck costing around $19,000 will typically have a 122% ROI of its cost when you sell your home.
5. Remodel Your Kitchen
If properly executed, a kitchen makeover will quickly increase the value of your home. If you redesign an old, antiquated kitchen, you will get an even better return. This type of remodeling job typically includes updating your cabinetry, stove, refrigerator, floors, sinks, and faucets, among other things.
However, don’t forget that a kitchen’s accessibility and usefulness are becoming more and more crucial as the American population ages. For instance, if a person is disabled or elderly and using a wheelchair, lowered cupboards, worktops, and light switches might make it easier for them to maneuver around the kitchen.
As far as the cost is concerned, according to Forbes, an updated kitchen with new countertops and cabinets will typically cost around $150 per square foot. However, a straightforward kitchen refresh, such as a paint job or plumbing replacement, will be considerably less than a total renovation.
6. Replace or Repair Your Roof
How can you tell when your roof needs to be replaced? Look up to see if there are any buckling, curling, or missing shingles. If you notice any of this, it’s time to replace the shingles or get a new roof altogether. Think about solar power as well. Although homebuyers might be hesitant to install them themselves, they will be drawn to your home if it already has solar panels installed.
That said, consider installing a metal roof since you probably won’t need to replace it before the solar panels reach the end of their life. Ultimately, you will have a nice roof as long as you choose your material wisely, get it fitted correctly, and hire a roofing contractor with a solid warranty.
The Final Words
Home renovation projects can be expensive and take a big chunk of your savings. Even so, you should consider adding them to your to-do list if you want to increase the value of your home. The potential benefits of these improvements include a better-looking home, better insulation, lower utility costs, and a more efficient, longer-lasting home. So, hire a professional home remodeling company and perform the renovation projects shared in this list today. They are a worthwhile investment!