Major Home Renovations That Add the Most Value
Whether you’re planning to sell your house in the near future or just want to update your house, renovations are a huge undertaking. This is why it’s important to know which renovations will add the most value to your home in the long run so you know whether the project is worth the effort or not. The experts at Kitchen & Bath Renovations offer this list of major home renovations that add the most value so you don’t waste your time on those that don’t pay off.
Build an Addition
Adding more square footage to your living space is always the best way to create value for your house. It doesn’t matter what type of room you add, whether it’s a bedroom, game room, living room, or bathroom, the added square footage will increase your asking price when you go to sell. Of course, the room you add should be usable for your purposes, so don’t just add a bathroom if you don’t need one. Instead, think about the type of room that you could use and plan from there.
If you are going to sell your house soon, a full addition might not be practical, but you could feasibly add what is called a “bump out” addition that is a smaller version of the full addition. A bump out is smaller than a full room and can be used to expand rooms that already exist. The kitchen is a great room to bump out, especially if you don’t have an island, which is an extremely popular kitchen feature right now.
Update Your HVAC System
Homebuyers expect houses to have all the modern amenities these days, which includes central air and heat. While it’s not always a deal breaker, having an old heating and cooling system is considered a detraction from the overall property. If it comes down to your property and one that has central air and heat, the property with the modern HVAC system will win almost every time. Plus, homebuyers don’t want to have to replace the HVAC system when they move in and will choose a newer system if possible.
Moving from baseboard heat and air or radiator heat can be challenging, so it’s recommended that you have an expert in HVAC assess your home before installing anything. Ductwork may have to be installed as well as the actual equipment, so this is a significant project. However, not only will a new HVAC system increase the value of your home, it will also lower your heating and cooling costs because modern systems are much more energy efficient as well.
Renovate a Bathroom
Bathrooms are one of the easiest rooms to upgrade, depending on how many improvements you want to make. Adding a shower to a half bath or making the master bathroom larger are two ways to immediately gain value. Bathroom renovations reap up to 57% return on investment, which is one of the highest ROIs in home improvements.
Conclusion
If you’re going to go all in on a home improvement to increase the value of your house, make sure you choose a renovation that’s going to make the inconvenience and mess worth your while. The three suggestions here will get you started toward that goal.
