Content Summary
- If you are a homeowner looking to increase your property’s value, opting for renovations and a home improvement project is a wise move.
- In this blog, we’ll be reading about several projects and home upgrades that improve the value of the household.
- If you want to make your outdoor space relaxing and entertaining, there are many ways to revamp your patio, backyard, or porch.
- However, the value will only improve when quality work is done.
What Renovations Boost Home Value the Most?
If you are a homeowner looking to increase your property’s value, opting for renovations and a home improvement project is a wise move. Each practical project will have unique outcomes. The budget and the type of expected returns should primarily define the type of project we opt for. In this blog, we’ll be reading about several projects and home upgrades that improve the value of the household. We’ll also focus on where you should put in your most effort and budget to achieve the best possible outcomes.
Revamp Your Kitchen
If you love cooking and have a middle-sized family, the kitchen might be one of the busiest places within the household, and ensuring its functionality should be a top priority. It might seem trivial to upgrade the kitchen with new appliances and reinstall plumbing fixtures, but it’s necessary if you want to ensure functionality. Commercial-style cooking ranges, dishwashers, wine refrigerators, and adding wall-mounted cabinets or drawers are some upgrade options that increase the value of your home.
Upgrade the HVAC System
Consider upgrading your home’s ventilation, heating, and air conditioning unit for a technologically advanced and efficient model. Most property managers and realtors believe homeowners can recover more than 85% of their investment in an HVAC system when selling the property.
If you have an old central air conditioning unit installed, most buyers will likely back off from the deal after seeing the HVAC system’s poor shape. Several surveys have suggested that people prefer purchasing a home where they are expected to do the least repair and maintenance work. Therefore, keeping your HVAC system up-to-date will be a fruitful decision.
Improve Accessibility
If you are inclined towards carrying out a home renovation, the best approach is to renovate based on universal design principles. This means you are making the household more accessible for people of all ages and physical abilities. Making the home more accessible means you’ll be welcoming more guests. Widening doorways, installing showers, creating step-less entrances for people with disability issues, and adding an emergency exit door increase the overall value of the household.
Renovate the Outdoors
If you want to make your outdoor space relaxing and entertaining, there are many ways to revamp your patio, backyard, or porch. These renovations will elevate the outdoor aesthetics and ensure the property’s value increases with this new upgrade. A screened-in front porch, a backyard patio with an outdoor kitchen, and making comfortable seating space on your porch are all upgrades that will surely increase the value of your home.
However, the value will only improve when quality work is done. If you have hired an incompetent contractor or an unqualified architect, their renovation work might even decrease the property’s resale value. If you are in for a home renovation and want to ensure you get the best services in town, consider contacting Home Service Hookups, as we can connect you with trustworthy and competent service providers, ensuring you get top-notch services that will genuinely benefit you in the long run.
Renovate the Bathroom
If you are a property manager or a realtor, you already know how much property value an updated bathroom can increase. Several surveys have concluded that home buyers will more likely purchase a home with an up-to-date bathroom than an outdated one. The estimates in these surveys also reveal that home sellers can recover more than 60% of their initial bathroom renovation cost when selling the property.
Several other home renovation projects like installing light fixtures, building an extension of your living room, or making the home energy-efficient can be executed as well, depending on your preferences and budget.
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Disclaimer: Please note that I am not an accountant or a financial advisor. The information provided in this blog post is based on my personal experience and research, and may not be suitable for your specific business needs or circumstances. It is important to consult with a qualified accountant or financial advisor before making any financial decisions for your business. The advice provided in this post should be considered as general information only and should not be relied upon as a substitute for professional advice. Your accountant can review the advice provided here and determine if it is applicable to your unique situation.
