Will This Renovation Project Make My Home More Valuable?

Will This Renovation Project Make My Home More Valuable?

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Making the right updates to your home can help you increase its value, either adding equity to your home that you can tap into when you need extra cash or helping you to reap a larger profit when you’re ready to sell. But not every update is a good investment. Some updates are just throwing good money after bad.

Before you start any renovation project, make sure that you protect your home from any damages from the work. Invest in an Eagle dumpster rental, and tarp off any areas of your home that are not involved in the construction area. You don’t want to add repairs to your renovations.

Here are a few updates you can make that will positively impact the value of your home:

Replace the Counter Tops

Granite counter tops can add a level of sophistication to your kitchen. The expensive stone is not only beautiful, but it is long-lasting and durable. You can chop vegetables right on the counter top without damaging it, and stains and spills are no problem.

Butcher block, tile, and poured concrete are also great options for counter tops. Avoid laminate and any other cheap, fabricated material.

Remodel the Bathroom

You can make your bathroom just like a spa at home. Update the tub with a garden tub with jets. Replace the frosty, old shower door with an elegant glass door and beautiful tile. Accents like designer lighting and a vanity will create a stylish finish. Work with the space you have and choose the best accents.

Replace the Carpet

Carpet can quickly show signs of age and damage. It traps dirt and stains easily, and it can retain nasty odors. Even professional cleaning will only remove so much of the dirt or odors.

You need to replace your carpet with new carpet at a minimum. However, if you really want to make an impact, you need to get rid of the carpet entirely. Hardwood and tile floors are much more attractive to buyers, and they are both much easier to maintain.

Update the Lighting Fixtures

Updating the lighting fixtures can not only improve the decor of the room, but the right lighting can also make a room appear larger and more inviting. Just make sure you work with an electrician to replace the fixtures or to install new ones. Even simple mistakes can cause major damages to your electrical system or to your home’s structure.

Add a Fresh Coat of Paint

A fresh coat of paint can do wonders for the inside and outside of your home. Your walls can become dingy, the paint can be chipped, or the colors can be outdated. A fresh coat of paint can make your home look like new. The right colors can also make rooms appear larger and your home appear more sophisticated and stylish.

Any type of home remodeling begins with a plan. Your first step is analyzing the numbers. Does the remodeling make economic sense. Second step: flushing out ideas. So understand these key steps before you begin:

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Not all updates are worth your time or money. Here are a few updates that you might want to skip:

Installing a Pool

A pool can be a great addition if you live in a place that has a hot climate all year long, like California or Florida. But a pool is also a huge commitment, and it requires a lot of time and money to keep up. Many home buyers will be turned off by this commitment, and they may see the pool as a liability because of the dangers it poses to small children.

Elaborate Landscaping

Beautiful landscaping can make your home look like the cover of a magazine, which can draw in potential buyers. But elaborate landscaping can also be a turnoff because it represents a whole lot of upkeep. Not everyone has a green thumb or wants to spend their weekends keeping their yards looking nice.

Unseen Improvements

Things like new wiring or upgraded plumbing may improve the functionality of the house, but since buyers can’t see these things with their own eyes, these updates don’t make as much of an impact on the selling price of a house. However, if you don’t make these updates, you can expect the price of your house to go down. Buyers expect these things to work properly.

Too Much Expansion

Adding a garage or a couple of bedrooms on a second floor may expand the square footage of your home and make it more attractive, but if the update prices the house out of the neighborhood, you may never recover those costs.

Your home can be the best house on the block, but it shouldn’t look like a king among peasants either.

Updating your home can significantly improve its value. Just make sure you make the right updates so you get the most bang for your buck.

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