4 Hot Spots of Your House to Remodel to Increase Its Value
Whether you want to sell or update your home, remodeling should be considered a value-add endeavor for your home. The effort, time, and money you put into your remodel need to be rewarded with a value increase, and understanding which renovations will yield the highest ROI is important.
So, what are the best home improvements that will add value to your home? We’ve picked the top four projects to consider for your home renovations that will raise the resale value of your property.
Hot spot #1: Additional Space
If you have the room for it, renovating to increase the size of your property is an instant price riser. This can also be beneficial as your family grows. Building an addition will make your home more functional while adding major value. Not every renovation makes it easy to increase a property’s square footage, but if you have the room, be sure to maximize your investment with materials that enhance your home’s character.
Whether you opt for a new bedroom, living room extension, or extra bathroom, any addition of square footage adds value; it’s that simple. Also, regardless of the home remodeling project that you decide on, it is important to remember that you may need extra space during the construction. Consider renting a portable storage container to house and protect all of your construction equipment.
Hot spot #2: The kitchen
The kitchen is possibly the most important room in your home. Used by everyone at some point throughout the day and a popular spot for entertaining guests, the kitchen is the major hub of the home. Functionality is a priority, as your kitchen should be designed in a way that meets your needs and desires.
According to Realtor Darren Robertson, updating the kitchen can be as simple as installing new appliances or plumbing fixtures, or you can opt for bigger, luxury additions such as wine refrigerators, drawer-style microwaves, hidden outlets, soda-water taps, and plenty more. These things make your kitchen more fun and easier to use, all while increasing the value of your home significantly.
Hot spot #3: The Bathroom
An updated bathroom is another huge selling point in any home. People want to feel revitalized in the room that they prepare for the day in. When improving your bathroom area, incorporate sleek surfaces that are easy to clean.
For example, if your home has only one bathroom, adding a shower or adding a half bathroom to a living area for guests boosts the value of a home significantly. With any type of remodeling, bathroom or otherwise, you have the opportunity to install energy-efficient products that will save some money in the long run. For the bathroom specifically, smart or energy-efficient toilets and shower heads can save you money on utility bills. It is also worth considering better storage to keep your bathroom tidy. The goal is to create a more comfortable space that provides improved convenience.
Hot spot #4: The HVAC System
The heating, ventilation, and air conditioning (HVAC) components of your home aren’t exactly the most exciting things, but they are critical items to maintain and a huge consideration for potential buyers. If they are old or in poor shape, this will hurt your potential sales.
Consider upgrading to modern, smart systems that go over and above to impress potential buyers while also making your life easier. Much like the bathroom, there is plenty of oppourtunity to save money in the long run with systems that use less energy. Installing a smart system during a renovation is simpler and more cost-efficient when compared to installing them at a later date.
Upgrading Your Home for Value
The above areas are instant price raises for any property and are well worth your investment. If you are staring down the barrel of an upgrade, we strongly recommend taking each of these four hot spots into consideration. Be sure to check out Flex House for more home improvement inspiration to improve your space.