For anyone looking to add value to their home, one of the first things you think about is renovation. From bathrooms to kitchens, renovation is always on the tip of everyone’s tongue when giving advice on value additions. One thing you may not consider at first is which specific addition projects will add the most value. Surprisingly, several of the projects that do add value may not be the ones you think of first.
So which renovations do add the most value? Take a look at the below before you consider your next renovation project.
Before you hire contractors for that complex bathroom renovation project, consider this question: What do visitors see first when they enter your home? That would be the front door. Therefore, having an inviting and stylish front door is a key to increasing home value right from the start. Unlike that kitchen project, replacing your front door is incredibly low cost. A mere $2,000 investment will recover 75% at retail cost.
If curb appeal is everything, then of course you want your exterior to look its very best. This is why your siding is so important. If you are undergoing a siding update in order to increase home value, then a great option is vinyl siding. This siding not only looks great but it also comes at a much lower cost, meaning you will be increasing your house’s value for a low upfront price.
It may not be the most valuable renovation project, but it does add value in addition to improving convenience. Updating your kitchen may be one of the more expensive renovations, coming at an average of $20,000 to $30,000, but it does bring with it a return on investment if the time should come to sell your house. After all, what works better than a bright, updated kitchen when it comes to luring a potential buyer?
Decks and Patios
If you’re lucky enough to have outdoor space at your residence, then the key to increasing home value is to put that space to the best use. Adding a nice patio or deck will allow potential buyers to envision hours spent outside with their families and will greatly increase the value of your home.
Making Your Attic into a Bedroom
Although it is nice to have an attic, it is even nicer to have an extra bedroom. What you lose out on in storage, you gain in going from a three to a four bedroom. This opens up your home to purchase from a larger family, which of course adds great value. Although this may sound like a no-brainer, many homeowners never even think about it. Don’t be one of those. Consider turning your attic into a bedroom for your next project.
Garage Door Replacement
Just like with your front door, your garage door is the first thing people see when they pull into your driveway. Making this point of entry as convenient and attractive as possible will therefore be an affordable and highly effective renovation.
Take advantage of these steps to increase the value of your home. Call in a professional contractor to initiate a key renovation today.