Apart from just making your home more enjoyable, renovation can also increase its value. But not all renovation projects can do this. While some of them can add significant value to your home, others can do the opposite and reduce the selling price. So which home improvement project will improve my property value the most? Here are a couple that will.
– Remodeling the kitchen
Kitchen updates always pay off. Most people when looking for a home to buy are after one that has a modern, updated kitchen. You can recoup 62.7 to 81.6 percent of your investment on a kitchen remodel according to Cost vs. Value Report for 2018 by Remodeling Magazine. However, do not be extravagant when doing this. It won’t make any sense adding a $90,000 kitchen to a $140,000 home.
– Upgrade the appliances
Matching appliances always make a room look better. If yours do not match, consider contacting the manufacturers and have the doors and face panels replaced. Doing this will help give your kitchen a more cohesive look without you having to spend so much money replacing all appliances.
If you have old appliances, replace them with new energy-efficient ones. Apart from being eco-friendly and energy efficient, you might qualify for a rebate in case your state offers one.
– Boost the bathrooms
You can recoup 87.7 to 93.5 percent of your investment with bathroom remodels. This is according to Remodeling Magazine. Re-grout the bathtub, brighten the room with paint, and install new fixtures. Same as with the kitchen, do not go overboard with the remodels. Also, consider adding new light fixtures and mirrors to complete the transformation.
– Remodel the basement or attic
Attics and basements add to the square footage of your home, and therefore, its value. Renovate the attic and you will have increased the value of your home.