4 types of renovation can increase the Value of Home .

Many homeowners undertake major renovations to remodel their homes before putting up them in the real estate market. After all, sprucing up the place will always send the sales price soaring, isn't it?

To make the most of your remodeling, it pays to keep four types of projects in mind: the basics, curb appeal, value-added, and personal preference.

 

 

1. The Basics

The basics are those things that home buyers expect to purchase a home. This includes a roof that doesn’t leak, functioning gutters and downspouts, a dry basement, a reliable furnace, solid floors, walls that are in good repair, and retaining walls that work. Most potential home buyers also expect that your home to have functioning plumbing and HVAC systems. In upscale properties, the basics might also include a certain number of bedrooms, bathrooms, and multiple-car garages, and any other amenities that are common to the neighborhood.

This doesn’t mean you have to upgrade all of it. You can focus on regular maintenance and smaller, cheaper improvements that keep everything in good working order. Adding these items to a home that lacks them doesn’t add value; it merely brings the property up to the standard level of the rest of the homes in the neighborhood, ensuring that you can ask a comparable price.

2. Curb appeal 

Curb appeal is what gives homebuyers their first impression of a property before they even step inside. The aesthetic look of a home’s exterior can tell what someone can expect to find on the other side of the front door. At the very least, the exterior will determine whether or not buyers even want to take a look inside. Therefore, if you want to maximize your property’s value, it is wise to focus on improving its curb appeal. Only once buyers are convinced the inside is worth seeing will they inquire further.Now, take a look at some curb appreal ideas

 

* Paint the outside of your home

This is a large project but can do more to sell your house than anything else. A freshly painted house makes a great first impression. If you don’t have the time or budget to repaint the entire home, just touch up shutters or window frames. 

 

* Freshen up your front door

You’d be surprised how big a difference painting your front door can make. Your front door is the entryway to your home the focal point of its exterior. Don’t be afraid to be bold in colour selection. Fresh shades will draw attention and encourage buyers to enter. 

 

*  Replace old hardware

Replacing old hardware like the door handle, house number, mailbox, and overhead light can add interest to your entrance. If they’re out of date or in bad condition, they may take away from the aesthetic you want to create. Make sure the hardware forms a cohesive look.

 

* Tidy your garden

Tackle those wild weeds and overgrown shrubs. Cut back any overgrowth that keeps light out of the house. Choose colorful plants with different growing seasons so your garden looks great in both spring and summer. 

 

* Keep your landscaping clean

Landscaping should enhance your home, not hide it. Make sure your driveway is cleaned and walkways swept. If you have steps or a porch, make sure everything is in good repair. Replace missing spindles and rotted stairs or railings. 

 

* Spruce up your entrance

Place large pots filled with bright blooms at your front door - nothing is more welcoming than fresh flowers. If you’ve got space, place a chair and small table to the side of the door. A comfortable spot to take off your shoes or enjoy a warm summer day will appeal to buyers.

3. Value Added

Investing in renovations for your home to increase its property value is a smart move as a homeowner. However, not all renovations are created equally!

 

  1. Condo Renovations

  2. Single-Family Home Renovations

  3. Transfer to energy-efficient routes as much as possible

  4. Bathrooms and water pressure

  5. Detail the kitchen

  6. Knockdown walls

  7. Create an outdoor experience

  8. Upgrade the furnace

  9. Address the water heater

  10. Perfect the roof

  11. Get Creative and Increase the Usable Square Footage of your Home

 

4. Personal Preference

Personal preference projects are nifty items that you want but that other people may not like or be willing to pay to get. In most areas of the Country, these include amenities such as swimming pools, tennis courts, hot tubs, wine cellars, basement game rooms, and ponds. Believe it or not, a swimming pool rarely adds value to a home. First of all, it usually costs a small fortune to have an in-ground pool installed. Secondly, many home buyers view a pool as a high-maintenance hassle and safety hazard—especially as it's something that’s useable only a few months out of the year (unless you live in a tropical climate, of course).

 

There’s certainly no harm in adding these items to your house, but don’t expect potential buyers to be willing to pay a premium to get them when you are ready to sell. And be wary if the renovation means replacing a popular or commonplace feature. If every other home in your neighborhood boasts a two-car garage, you should probably think twice about converting yours into a game room. Do you really want to be the only house in the area with no protected place to park?

 

Other tricky conversions include:

 

Transforming a bedroom into a studio

Removing walls to enlarge a space (unless it’s a really practical move, such as creating a flow between the dining room and kitchen)

Eliminating a bedroom to extend a room

Remodeling the basement (stick to smaller improvements, such as upgraded storage capacity)

 

Conclusion

Regardless of the project you are considering, remember that your primary residence is not just a house; it’s your home.  When it’s time to sell, do the basics to get the property up to par for the neighborhood and add some curb appeal but don’t bother undertaking an extensive array of projects strictly in an effort to increase the purchase price of the property.

 

If you are worried about the value of your home and thinking to increase the value lets us help to increase the vlaue of your property. 

 

*Note: This is not financial advice

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