Whether you plan to sell your home or just want to make sure your plans will boost its value, there are so many different upgrades you can do that will increase the value of your home.
KITCHEN IS KING
As always, the kitchen is going to be the biggest selling point in any home sale. It’s the focal point of most homes. It’s where people tend to spend the most time. Updating the kitchen to be more functional and more aesthetically pleasing is going to get you the most bang for your buck if you’re planning any home remodel. One thing to think about when you are considering a kitchen remodel is whether or not the kitchen layout works. I once lived in an apartment where the dishwasher opened up in front of the sink so you couldn’t stand at the sink while you were doing the dishes. If you need to reconfigure the layout in the kitchen, this is the time. If you don’t, then replacing the cabinets, countertops and appliances and keeping them all in the same place is fine.
An smartly designed addition will add square footage to your home which will increase its value. Depending on the current configuration of your home, adding a second bathroom or a third bedroom could give your house a nice boost in the market. Just make sure you don’t spend money on a remodel without being strategic with how you’re adding square footage to your home. Just making your living room bigger or adding a bathroom when you already two or more could just be a waste of money.
This is just like an addition, but the space is already in your home. If you have an unfinished basement, you can add a few bedrooms and a bathroom or even a small apartment and have some side income. You can get more bang for your buck with a basement remodel over an addition so you can be more flexible with what you put down there. Just remember if you turn your basement into something specific, like a recording studio, you could limit your resale value since most people won’t be willing to pay extra for a recording studio.
Increasing the energy efficiency of your home will boost its value a great deal. There are a lot of smaller things you can do to upgrade the efficiency of your home over time. You can add insulation. increasing the insulation in your crawlspace, walls and attic. If you have old, single pane windows, you can get new double or triple pane windows and increase your homes efficiency that way. Adding solar power to your home will also give you a boost in your homes marketability and value.
`All areas are different so it doesnt hurt to talk to a real estate agent about what tipes of upgrades will add the most value to your home in your area. Take time to put thought into what you will do to your home to get the most bang for your buck. You want to balance what you want with what will be a good investment in the long run. A house is a huge purchase and if you are smart about your upgrade you can use them to your advantage of those upgrade to make a few bucks down the road.