5 home renovation projects that can add value to your home
The recent economic downturn may have changed the way most people spend their money, but it didn’t stop them from renovating their homes. Many homeowners remodel their homes to feel more comfortable in their abode or to increase the value of their properties. This makes investing in a home remodeling project smart. When the housing market changes, you can recoup your investment or sell your home for a better one. Here are some remodeling ideas that can add value to your home.
1. Reform the kitchen
The kitchen is considered the heart of a home. Thus, any update or improvement in the kitchen will be worth it. According to real estate specialists, you can expect a 60% to 120% return on investment on a kitchen renovation project. You just have to make sure you don’t overdo it. Never remodel your kitchen so that it looks more extravagant than the rest of the rooms in your house. A simple repainting job and replacing old appliances with new, energy-efficient models is likely to impress many potential buyers.
2. Add another bathroom
If you only have one bathroom in your home, adding another will pay off pretty well for your investment. When looking for a room for your extra bathroom, you can use any underutilized space such as closets, under-stairs areas, or spare rooms.
It must be at least 18 square feet for a half bath and a minimum of 30 square feet for a full bath with a stand-up shower. If you are thinking of installing a bathtub in your new bathroom, you should prepare at least 35 square feet of space.
3. More space and light
A dark, narrow house is unlikely to attract many potential buyers. If you have small rooms in your house that block natural light, you may want to knock down some walls and open up your floor plan. An open floor plan involves combining the dining room, living room, and kitchen into one large space that is well-suited for casual living. This will give a small house a light and airy feel and the illusion of a larger living room. It is also good for families with children because it allows parents to keep an eye on their children while they are preparing for dinner. If you don’t want to knock down the walls, you can widen the doors 6 to 12 inches.
4. Home office
With more and more people working from home, a home office is now more of a necessity than a luxury. Make sure you have enough space to work comfortably and enough cabinets to store your supplies and paperwork. Phone lines and data ports will also add value to your home.
5. Increase curb appeal
When it comes to real estate, first impressions last. If your home doesn’t look appealing from the outside, then don’t expect potential buyers to do so from the inside. Consider repainting if your home’s exterior paint is already faded. Choose paint colors and exterior decorations that match the overall style of your home. Add attractive landscaping in the front and back yards if possible. You can also add a deck or patio to increase the value of your property.