The real estate market is definitely a great one to make good cash from. If you are looking to increase your home’s current value, so as to get more money from a resell, then you have to engage in smart remodeling.
You have to be careful because some kinds of renovation and remodeling could also bring down the value of a home.
Some Renovating and Remodeling Ideas that Would Upgrade Your Home’s Value
Adding extra bathrooms
Many people looking to get new homes will definitely pick homes with several bathrooms over homes with only one bathroom or just an extra in the master’s suite. Research by HGTV reveals that following a bathroom addition, you can make 80-130% returns of what you spent in making the bathroom during a resell. Simply find a room in your house that has a bit of extra space and make a bathroom out of it. It never ends in a loss
Remodeling and Renovating Your Kitchen
The kitchen is considered by many as the very heart of any home. There is no beautiful home without a beautiful kitchen. Therefore, feel free to make updates to your kitchen. If it doesn’t look like the regular modern day kitchen, then there’s a lot of work to put in if you want to enjoy the 60-120% returns that follow a kitchen renovation and remodeling. However, while remodeling your kitchen, think of the potential buyers you have in mind and work at a budget they would be able to beat. A $50,000 kitchen upgrade for a house can make the entire house value too expensive; chasing your buyers. Getting great cost-effective appliances as well as painting the kitchen using quality coat as forms of renovation, will go a long way.
Adding Windows that are Energy-Efficient
Buyers are wiser these days. They want to get the value for their money. Therefore, they shop for homes having energy-efficiency at the back of their minds. More energy efficient windows would save users as much as $500 per year of the costs spent on keeping the good temperature (by heating or cooling). Therefore, users would rather buy a house that is energy efficient since it would be a “pound-wise” move.
Deck Addition
Using a deck makes the value of a home skyrocket. Outdoor living spaces are now fanciful as more people are beginning as the idea of staying at home for the holidays while still getting that great atmosphere.
As long as your deck is really attractive and appealing, your house will indeed be highly attractive to prospective buyers. There is no fixed cost of remodeling your home to have a deck. The cost varies. It depends on the size of the deck as well as the number of things you would like to have in the deck. Examples of things you may like to have on your deck are built-in flower pots, built-in seats, and multiple stairs.
You can save costs on constructing a deck by doing most of the work by yourself.
Energy-Efficient Insulation
In a case where your home lacks basic insulation or even has old doors which allow in lots of that let in air (hot or cold), it could reduce the value placed on your house by home inspectors, and these home inspectors will include it in their reports to the potential buyers.
This is why you need to scale up your house with respect to this. Without modifications with respect to insulation, then the cost of maintaining an energy efficient lifestyle in the house would be high. At least, a home buyer needs to know they can have a sleep devoid of energy-efficiency worries, on the mattress they’ve purchased via a good mattress review.
Since the potential buyers will still need to spend a lot (in the case of an unmodified house), they wouldn’t be willing to purchase your house at a high cost.
On the other hand, modifying your home to save energy would make your home more attractive to potential buyers and be beneficial to you, pending the time of purchase.
Final Thoughts
It is great to remodel your house in a bid to increase its value, but it is good to do it while carefully considering how much you can possibly make from each penny you spend.