Renovating your house is among the most effective ways you can use to increase its value. Part of the motivation and appeal for renovations is that a large portion of cash spent will be recovered via the increased equity you will gain in your house. However, not all renovation or
remodeling projects will improve the value of your home.
For this reason, being informed about ways on how to add value to homes through renovation will enable you to select carefully how to spend your hard earned cash. This will help you earn the best feasible return on your property or investment in general.
1. Applying a New Coat of Paint
This is the easiest and quickest method of increasing the value of your house. If you’re operating on a budget, it is important you consider painting the rooms in your house that are used more often, like the living room, main bathroom, and kitchen. Avoid applying bright colors such as yellow or pink and dark shades such as chocolate or navy brown, since they are polarizing options for certain buyers.
You should remove wallpaper in your home and replace them with paint. Wallpapers are big turn-offs for potential buyers since it is difficult to remove them if they do not like them.
2. Installing a Taps and Knobs in your Home
Small items like faucets, doorknobs, and light fixtures are normally overlooked during a house renovation. Note that replacing these products with similarly styled items will end up lending your house a remarkably cohesive appearance which will, in the long run, make it more appealing and costly in terms of value.
3. Renovating the Bathroom and Kitchen
Bathroom and kitchen renovations consistently offer high returns on investment. When remodeling your kitchen, do not think of introducing costly, top- of- the- line fixtures and appliances. Focus on replacing worn and old flooring, cabinetry, and wall coverings with new mid-range items.
You should also give your master bathroom more attention if you have one. Clients often prefer viewing the master bathroom first before inspecting the other places in the house. Therefore, you should think of updating the fixtures and finishes in that room as it will eventually yield a high return.
If your house has only one bathroom, it is essential you think of adding another one if possible. Though it might be an expensive renovation idea, it is an idea that will definitely add considerable value to the house.
4. Creating Space
Open up several rooms in your house so that you can have an open plan area. You can create easily a spacious touch to your house by knocking a few walls down. However, you should make sure you discuss with an expert whatever you opt to do by simply seeking the assistance of an accredited contractor in your area.
5. Renovating Your Garage Door
When renovating your house, you may not put into consideration your garage door, but nonetheless it’s part of your house. A garage door that is withered, old and dirty affects the beauty of your entire home. Renovate your garage door by giving it an appealing coat of paint and fixing any damaged parts that require immediate attention.
Tips and Warning
*It is advisable to work with professionals to ensure money is not wasted. Ensure that you add up the entire cost of renovation and compare it to the value added to your hose. If the cost is greater you will require to rethink your renovation.
*You should never renovate your house to an extent whereby you are not in a position to afford it. For instance, if you use all the equity of your home to pay for renovation costs and the price of houses decreases, you’ll be left with higher payment. It is ideal that value is added within the budget.
By Tanya Mayer