Among the main reasons that homeowners undertake home improvement projects is to update the house, make it easier to live in, and simply to make it look better. One more reason to get a renovation done on the house is to increase the value of the property.
Here are a few upgrades that would help you change the look of your home for the better as well as adding to its resale value for the future.
Home Improvement Project Value
• The kitchen is the heart of every house and with that, and you can recoup on average 92.9% of the remodeling cost.
• Curb appeal is invaluable for the first impression, that’s the reason replacing the siding will add serious vale to your home. You can recoup 92.8% of its cost.
• Roofs and windows with their energy savings and looks are next on the list, and they return 80% of the money spent on them.
Other factors that influence value:
Apart from the obvious monetary value, you add to your home with home improvements; there are a few other factors that go into how much real value you add to a house.
The first thing to keep in mind is how soon after the renovations will you be putting the house up on the market. The more recent the changes, the trendier the house, which in turn would add a greater value for your home.
Another important factor is the market value of your home in comparison to the money value of the improvement itself. That means if your home is worth $500,000, installing a new $25,000 stove just doesn’t add up. Also, if you have only two bedrooms and a one car garage in an area that has a minimum of four bedrooms and two car garage, think about constructing a new room rather than putting that money in the kitchen.
If your house is built according to the norms as per the general markets, then you can expect to not just recoup your costs on the remodeling, but even enjoy a net return on the money invested on the improvements. If marketed right, you can even get triple digit returns on a bathroom remodel, up to 182% by some reports. Kitchen remodels when done right and at the right time can get you over the cost of the repairs.
Go eco-friendly:
Install systems in your house that save energy in various ways. Geothermal heating and cooling systems use heat from under the ground instead of a traditional HVAC system.
Solar panels can reduce the cost of electricity on a yearly basis. Water-saving plumbing like showerheads and toilets, energy star certified appliances, and many such minor improvements put significant dents on living costs in the long term while also essentially paying for themselves through the value that they add to your home’s final resale price.
It’s said that people tend to decide on whether or not to make a purchase in less than 5 minutes, so making that perfect first impression is an absolute must.
Here at Enclave Remodelng Inc., we would make sure that the money you invest is allocated wisely, so you could enjoy the fruits of it whether you live in it or selling it.
So if you’re looking to get the most out of your money contact us, we would love to help.
Good Luck!
