Are you looking to hit refresh on the look of your home? Or are you getting it ready to show off to prospective buyers? Either way, it helps to know which types of renovations are worth your time and money. Some upgrades will net you a higher rate of return, and those are the ones you want to zero in on. So which kinds of home renovations are going to give you the best value for your situation? The team at Nick’s Developments has put together this can’t-miss guide for all homeowners, running down what renovations increase home value the most.
Create an Addition
Is your family getting bigger or has it already outgrown the size of your current home? You could move to a bigger home, but maybe you’re in love with the neighborhood. There’s a simpler, likely cheaper solution. Creating an addition increases the amount of livable space in your home. Add an extra room for the family to watch TV. Add an extra bedroom, a rec room, or another room that’s just for mom and dad. Anything is possible and additions are guaranteed to inflate your home’s value and add to your family’s quality of life.
Redo Your Kitchen
So what home renovations are worth it? Kitchen renovations most often net homeowners the highest rate of return when it comes to any reno. That’s because prospective buyers can be easily swayed by a beautiful kitchen that’s already been renovated classically. Keep the colour scheme neutral to net the biggest returns. If you don’t have the budget to put in all new cabinetry, consider resurfacing or simply painting your existing set and adding some new hardware to give the space a revamped look.
Renovate a Bathroom
Bathrooms are another renovation project that yields one of the highest rates of return. Again, prospective buyers want something that’s turnkey—or ready to use right away. Swapping out your vanity or something updated and clean-looking, as well as putting in a new toilet or glass shower can do wonders for your bathroom. Lighting is key as well. Make sure your bathroom is bright and inviting using wall sconces paired with pot lights
Update Your Home’s HVAC
Nobody wants to walk into a house for sale and see an ancient air conditioner unit or furnace. Updating your old HVAC appliances is a great selling feature, but also worthwhile if you’re planning to stay in your current home for a while. Old HVAC appliances are inefficient, costly to repair and jack up your monthly utility bills. New HVAC appliances will help you see energy savings immediately and they’ll be more effective at keeping your home at your desired temperature.
Amplify Outdoor Living Space
Looking for the best home renovations to increase value? Well, who doesn’t love a nice backyard? It’s great to entertain friends and family all summer long! Start with the grass. Get your lawn re-sodded for a fresh layer of luscious green. A private and shady patio space can also go a long way toward elevating the value of your home. A new or well-maintained fence will really appeal to families too. Extra points for a nice water feature or quaint flower garden.
Make Your Home More Accessible
If you want to make your home easier to market to potential buyers, ensure it’s as friendly as possible to people of all types and abilities. This could mean few or no steps up to the home, wider doors and entryways, as well as support bars or a walk-in shower as opposed to a traditional bathtub.
Update Your Light Fixtures
If you’re looking for a home renos that add value, you can install interior or exterior lights. Exterior pot lights can give your home a very grand feel at nighttime and help you stand out on the street—not to mention the security factor. Inside, pot lights are the most effective way to give any room a warm, inviting glow. Pair them with a dimmer switch to give yourself more options for everyday living.
Replacing Old Windows
Draughty old windows not only look bad, but they let your precious heat and air conditioning escape, driving up your energy costs and making your HVAC appliances work harder than they should have to. Putting in new windows can make your home more energy efficient and help direct better airflow into the home depending on which style you get.
Another way to make your home more energy efficient is to upgrade or replace the insulation in your attic. Because hot air rises, most heat escapes through the top of your home. Improving your insulation situation will help retain more heat and keep your utility bills lower.
One of the first things prospective buyers will look at is the condition of the home’s roof because they want to know how soon it’ll be before they have to replace it. A new-looking roof will equate to a fair cost in the buyer’s eyes when it comes to the value of the home. Good quality shingles will do the trick but a steel or metal roof is the ultimate desire of many homeowners.
Finishing Your Basement
This is kind of like adding an addition to your home. If you still have an unfinished basement, you haven’t tapped into your home’s full potential. A finished basement instantly increases the amount of living space in your home. Suddenly you can have an extra bedroom, another bathroom, a whole other living area or even a kitchen if you want to rent out the space as income property or nanny suite.
Value Home Renovations
With these renovation ideas, you should be able to add a lot of value to your home and recuperate a lot of the cash you invest into making your home look sensational. The remodeling pros at NICKS Developments have a lot of experience to help you do these projects the right way. Contact us today to book your consultation and let’s plan some home renovations to increase value.