The renovations that will add the most value to your home tend to be focused on its exterior. It makes sense since people respond to that curb appeal right away. Having said that, once they get inside, they will appreciate all the other work you have done.
Here are the top three rooms you should consider renovating that will increase your home’s value:
BACKYARD DECK/PATIO. This renovation will hit the mark when it comes to exterior improvements by creating that outdoor room that people love. A wooden deck will add more value than a composite deck addition with the wood version bringing in an average 80 percent ROI. It is recommended that your deck be approximately 16’ x 20’, but in reality, its size should be determined by your yard and the size of the home.
KITCHEN. This is one of the most valuable home improvements since it’s often the first place a buyer will look when determining whether the home is worth its asking price. Most people will want a kitchen with lots of upgrades and newer appliances without having to actually pay for it themselves or worry about it. There is a range of improvements you can make to your kitchen that will fit your budget, such as installing stainless-steel and energy-efficient appliances, or painting cabinets and upgrading the flooring and countertops; these improvements will have a big positive impact on the value of your home. A relatively minor kitchen remodel will recoup about 80 percent of its cost while an upscale one will bring you back about 50 percent of the costs.
BATHROOM. A remodel of your bathroom, even a midrange one, will give you a return of about 70 percent. This might include updated tile, fixtures and toilets, counters, and lighting. Just like in the kitchen, doing more won’t necessarily mean you will get more, however, so keep that in mind. If you improve your bathroom to make it universally accessible, this will have a high impact on your home value since it greatly expands its desirability for any and all buyers.
If you are thinking about a home renovation and want to discuss how to increase your home value when you renovate, remember that Ascension General Contractors can help!