Renovations That Will Increase Your Home's Value
Whether you're renovating for more space or to update your home's design, it is always a smart idea to understand how your project may or may not affect your home's value. Even if you're not planning on selling anytime soon, renovations that yield a return on investment when you list your home on the market can be an important part of your long-term financial plan.
According to the experts at The Spruce, the following projects almost always increase the value of your home. A local real estate professional will help you understand how these renovations might affect value in your particular neck of the woods.
The bathroom. Updating a bathroom always ranks high when it comes to adding value to a home. When it comes time to sell, potential buyers can spot an outdated bathroom right away just by looking at the layout and fixtures. Home improvement experts say to focus on updating sinks and showers along with the vanity. Keep an eye toward adding storage, too, always a plus in any bathroom.
Kitchen cabinets. The kitchen is a key focal point for homebuyers, so any remodeling project in this room is almost certain to increase your home's value. Kitchen cabinets, in particular, are important to update, so try to pick both a style and color that are relatively timeless to get the maximum life and value out of your kitchen upgrade.
Countertops. Another integral part of any kitchen design are the countertops, so if you're considering a larger home renovation project, add new kitchen counters to the list. When it comes to home value, the material you choose plays a huge role, so look for stylish and durable granite and quartz options. To keep things timeless, consider white or another neutral shade for your counters.
Windows. While new windows may not give you the biggest design punch, they're high on the list for homebuyers with an eye toward energy efficiency. In fact, according to Home Depot, you may recoup as much as 70% of your investment when it comes time to sell your home. And in the meantime, the right windows may save you up to 25% on your energy bill.
Fencing. Replacing an old fence or adding a new one is a great investment to your home's outdoor space. An attractive fence not only adds to the aesthetic value of your home, it serves an important purpose: keeping pets and small children secure and/or adding needed privacy. You can also consider creating natural fences with hedges or fast-growing evergreen trees.
Always remember that while return on investment and increasing your home's value are important goals, any renovation you take on should enhance your family's day-to-day life as well. Unless you're looking to sell soon, choose the projects that will best improve your lifestyle.
Michael Kogler, REALTOR
MIKE KOGLER TEAM: #1 Sales Team
Long & Foster Real Estate | Luxury Portfolio International
37156 Rehoboth Ave., Ext.
Rehoboth Beach, DE. 19971
Cell: (302) 236-7648
Email: michaelkogler@outlook.com
Web: www.MikeKogler.com
Henlopen Sales & Rentals: www.HenlopenRB.com
