Renovating your home can be a great way to increase the value of your property. This, in turn, will help when you plan to sell your property or give it for rent if needed. As renovations can be of different kinds, it is essential to know exactly which renovations help you increase the value of your home.
Moreover, some renovations that increase home value can be pretty expensive, so it is crucial to evaluate whether you can get your desired value for the price you pay for the renovation project.
Keep in mind that the money you put in and the time you invest in the renovation are worth it in the future when you sell your house.
Once you’re familiar with the renovations that increase home value, you can visit this site to learn more about different home insurance companies.
Five of the best home renovations that increase property value
Before entering into any renovation project, be sure that it adds considerable value to your house. This is possible by conducting a bit of research online. Make sure to add the things that are missing by analyzing your property well. This way, you can prevent entering into renovation projects that not only drain your money but add no value to your property.
Numerous renovations can be done to increase the value of your house. These are explained in detail below-
1. Kitchen Renovation
A happy kitchen is the crux of a happy home. Therefore, think about how you can renovate or remodel your kitchen to make it user-friendly for your buyers. You can add certain features to change the entire model, depending on your budget and requirement.
These can be:
- Adding a new backlash that matches the decor of your kitchen
- Refinishing cabinets and adding more storage
- Updating and installing new lights and light fixtures
- Installing new stylish-looking faucets
- Adding a fun kitchen island and new countertops
- Installing new flooring in a material of your choice like wood, natural tiles, laminates, etc.
- Allowing more light into the kitchen by adding windows
- Adding dining space to your kitchen.
Focusing on functionality is quite important as buyers look for a property with a kitchen where they can spend a lot of time. Try to upgrade or add features that go with the vibe of your house and try to stay within the budget.
2. Bathroom Renovation
Bathroom renovations are crucial to increasing property value. You can modernize your bathroom by adding features like-
- New bathroom fittings like sinks, tubs, showers, or toilets
- Installing new floor tiles in classy textures and adding fresh paint to the walls.
- Adding ample storage space to store all the essential toiletries
- An expensive-looking vanity can be installed to give your bathroom a luxurious look and feel
- Installing new lights that add a cozy environment
A modern bathroom is spacious, has a lot of storage, and looks and feels comfortable. You can keep the colour scheme neutral to add that minimalist vibe. Sticking to a single style and keeping the colours to a minimum to add that expensive touch.
3. Expand the area if you can
Adding some extra rooms and having some space available might prove to be a good idea. Adding new spaces like bedrooms, increasing the living room space, or adding new extensions to existing spaces like kitchens or bathrooms will help you get your desired price.
However, for this renovation project, you need to have some additional space. You can always transform a space that has been left unused and turn it into an additional room. Some ideas for the project are-
Sometimes, the space that can be increased might not be much. In that case, it is best to avoid such renovations as you will end up spending a lot on construction and planning without receiving a desirable price.
4. Utilising the outdoor space
A luxurious home always has an outdoor space dedicated to fun activities. Thus, you can always add a patio to the outdoor space or add a functional porch. The idea is to create a space where the family can spend some time doing what they love.
You can experiment with different materials while adding the porch or patio and select any style. Adding a seating arrangement along with a lot of greenery will help give your home that warm Mediterranean feel. However, if your house already has a patio, you can transform it to look more appealing. This is how to do it-
- Repairing any old piece of wood and putting new pavers
- Adding a new coat of paint in fun colours
- Adding new chairs and decor items
- Replacing furniture or items that have worn out
5. Upgrading lights and light fixtures
If you want to get a higher price for your property, you must ensure that you have modern light fixtures. These not only add oodles of style to your house but these are one of the home renovations that increase resale value.
Upgrading your lights is one of the simplest home renovation ideas that goes a long way in transforming your indoor and outdoor space. You can carefully select the style, colour, and location of your lights to make your home look cozy.
An inviting home will make sure to impress buyers who will be ready to pay a higher price for the purchase. The best thing about such a renovation idea is that you can easily get different light fixtures and lights in local or online markets. Most of these can be installed yourself, which will also cut the labour cost. You can add smart lights to make things easier for your buyers and impress them instantly.
The best renovations that increase home value — Conclusion
Sometimes, the simplest of renovations can add a lot of additional value to your property.
Apart from the ones mentioned above, simple things like maintaining your house well, keeping it clean and dust-free, painting your house regularly, getting rid of cracks and dents, adding indoor and outdoor plants, re-tiling floors, adding new storage, landscaping, adding smart lights and appliances, improving home decor, etc can be great in maintaining the property value.
However, it is a great idea to enter into home insurance so that you keep enjoying your family time without any worry.