Many home improvement projects do add value to your home and improve your family’s quality of life. By working on these projects ideas, you can enjoy the updates and benefits you get from the project. If you’re making green upgrades, then you can also start recouping your investments in eco-friendly products once you complete the projects.
Below are these home improvements projects that can add value to your home include:
1. Bathroom addition:
If your home has only one bathroom, then you can recoup a large amount of investment by adding another one. Finding room which you can convert it to your bath, take a look at the other places like a storeroom or some underutilised space. You can also consider space such as under the stairs or closets if you want half-bath. You can also carry out eco-friendly bathroom renovation by adding some products which are toxin-free and micro-plastic free.
2. Reinventing a room:
To adding a square foot to your home with a new place can be an expensive project. Instead of that, you can reinvent the existing space in your home to save money. Give a finishing touch to your basement or convert the attic to a bedroom. Even you can also add small apartments in, or over their garages, which you can rent out as a room.
3. Adding deck:
By adding a deck, you can increase the value of your home. Outdoor living is now in trends and is more desirable, especially since people have started staying at home for their vacation. If you make your deck in your backyard, then your house will be more attracting and appealing when you decide to sell.
If you’re having old doors and lack of insulation that let in plenty of hot and cold air, home inspectors will involve these things at the time of inspection report. You can often discover the areas and leaks that need more insulation are doors and windows, light switches and electrical shocks, the attic hatch, basement, in recessed lighting and ducts or wires which goes out the house.
5. Basic updates:
With the basic updates, you can update your house value. Fix the roof when its leaks, keep the paint fresh, get rid of mould and replace the wood that rots. These small things keep your home from flagging over time. Potential buyers check the safety, solid, and healthy home, and they look for these signs more carefully while purchasing.
Also, replace the wiring in your home, repaint your exteriors and interiors, and replace plumbing. These things will keep your home in tip-top condition and shape, so when you decide to sell it, the buyers will see a well-cared home.
Projects you can avoid at the time of home improvement:
If you’re planning on moving in the next three to four years, don’t invest money in your home improvement project, as it won’t increase the resale value of your house. Don’t have an idea which is the low-valued home improvement projects? Then read on. Here are some projects which are included in it.
- Gourmet kitchen with high-end accessories: You can recoup a fair amount of cost on a kitchen remodel, but an expensive and fancy gourmet kitchen will not attract your buyer. Stay on par with your neighbours, as too many high-end additions and you will have the most expensive home on the block. But even with that, you may not recoup your entire investment in a costly kitchen model at the time of selling.
- Whirlpool baths: It might be fun and relaxing if you take a hot shower after that tiring day, but it won’t add a single penny from the potential buyer to install it. Its cost for installing a whirlpool bathtub can be prohibitive. Moreover, installing a tub may result in high energy bills and additional monthly maintenance costs.
- Expensive landscaping: With landscaping, you can transform the way your house looks, especially to potential buyers, but it won’t help you in getting back the price you’re asking. But if you stay in that house for a while, it will change and improve your quality of life, especially in the warmer months. And if you’re planning to sell your home, you won’t be able to recoup the cost of expensive landscaping in the sale.
- Adding rooms: To add a new bedroom or family room can cost your pocket thousands of dollars but will give you only 60% of ROI. People who are budget-minded buyers don’t want to heat and cool a huge house. If you still make a new room, you can qualify that room and list it as a bonus room instead.
- Home-office remodelling: Many people don’t need a luxury office in their home, as it may cost thousands of dollars but at the time of selling it only gives you 46% of the return. As the technologies keep on changing, the lighting, wiring and other general components won’t generate additional income at the time of sale.
- Replacing the roof: Home realtors say that if you replace the roof, you only get the 55%-60% of the cost at the time of selling. Conversely, a damaged or old roof might turn prospective buyers away. With a new roof, you can get a potential buyer, and it will help you to stay in the market.
6. Adding garage:
According to the real estate agents, a new garage will give only give you 62% of ROI. And adding a new garage can cost thousands of dollars. By knowing that you only recoup a fraction of your investment, don’t build a new garage to increase the value.
Some necessities such as a new septic system and new plumbing, don’t generate more income when you sell your house. The potential buyer wants to know about the working condition of toilets and sinks, but most of them don’t concern themselves with the specific. Moreover, a new generator also doesn’t add value to your home.
You have many other options that add value to your home but remember that if you plan to remodel, concentrate your efforts on smaller projects that make your home more appealing to budget-minded buyers. Focus on energy efficiency and minor upgrades that add character and comfort to your home.