Welcome to top 10 home renovations!
Top 10 home renovations tips – traipsing through a showing and picking out everything you’d change is exhilarating. After all, talking about the makeover you plan to give the property after you purchase it is half the fun of house hunting. Are you sure what you plan to do will actually increase the value of the home?
We all have our personal tastes, but not every update will result in an upgrade in the value of your home. However, there are some repairs that almost guarantee an increase and promise you big rewards down the line when it’s time to sell again.
Here is our list of the top 10 home renovations that raise the value of your home.
1. Top 10 Home Renovations – Create an Addition
One of the most rudimentary ways to determine the value of a house is to take the current market rate per square foot and multiply it by the total square footage.
With this principle in mind, what do you suppose happens to the value of your home if you tack on an addition? Kaching!
Adding onto the existing floor plan creates additional square footage and makes your home more sought after on the open market. The addition might be an expansion to the living room, an additional bedroom, a rec room, or more.
2. Top 10 Home Renovations – Update the Kitchen
One of the biggest selling points on the open market is a brand-new kitchen.
You don’t need to do an overhaul and totally rework the space with a new floor plan. A fresh coat of paint, new color scheme, brand-new cabinets, and upgraded appliances make a great impact at a relatively low cost.
That said, a total makeover is never out of the question when it comes to kitchens. Studies show that homeowners could expect to recoup anywhere between 50% and 70% of the renovation costs during the home sale down the line.
With this in mind, be bold and spare no expense! After all, you deserve to have a kitchen you love, don’t you?
3. Top 10 Home Renovations – Update the Bathroom
Home buyers are always interested in the quantity and quality of bathrooms in the house. If your bathroom is especially dated, refreshing its appearance is almost guaranteed to pay dividends down the line when you eventually sell.
In fact, studies show that you could expect to make back half or more of the renovation costs.
Upgrading the fixtures, including the sink, vanity, lighting, and more, along with a fresh coat of paint will work wonders to refresh things. Even better, if you have a half bath and you might be able to work a shower in to make it full, it’s an excellent selling point that will certainly be worth the work.
4. Top 10 Home Renovations – Add a Bathroom
Adding a bathroom is not always feasible, but it’s guaranteed to pay off if you can make it happen. Think about stealing some space from a larger bedroom, eating up square footage in a long hallway, or converting a closet to get at least a half bathroom added to your home’s offering.
And how much of a payoff should you expect by adding another bathroom?
A study conducted by the National Association of Home Builders determined that adding a half bath boosts the home’s value by 10.5%, whereas adding a full bathroom could increase it by 20%. Kaching!
5. Top 10 Home Renovations – Update the HVAC
The useful life of an HVAC system falls somewhere between 10 and 25 years.
If you’ve made it more than a quarter century with the system intact, kudos to you, but a seller might be less willing to assume old mechanical systems and the problems that come with them.
Updating the HVAC is not only a great way to raise your home’s value but also a great selling point once you go to sell. After all, working mechanical components, great efficiency, and great indoor air quality could make or break deals.
6. Top 10 Home Renovations – Replace Windows
Just like a fresh coat of paint, redoing the window dressings with brand-new wood or vinyl will polish the appearance and help add to your home’s visual appeal. Not only does it improve the aesthetics of the home, but it will result in improved home efficiency, which could be used as a selling point during negotiations.
Keep in mind when taking on a window replacement project that vinyl and wood have similar recoup rates, but the average price of wood tends to be higher making vinyl the more attractive option for financially savvy sellers.
If you’re taking this project on in the earlier stages of your home ownership, however, it’s dealer’s choice.
7. Build a Deck
Having a backyard is delightful but a deck is divine. Adding a deck as part of your outdoor offering allows the buyer to envision big summer gatherings and other festivities. Plus, it increases the living area of your home at a fraction of the cost of an actual addition.
A high-quality wooden deck offers some return on your investment when the home is sold, but if you’re starting fresh it’s worth it to go with composite material instead. It’s more durable, maintenance-free, weather resistant, pestproof, and generally nets you a greater profit once the home is sold.
Talk about a win-win!
8. Top 10 Home Renovations – Finish the Basement
Got a dark, dusty basement where you stashed all your seasonal items and sentimental knick knacks for the spiders to safeguard?
Finally finishing the basement is a home renovation no-brainer. Not only does it offer an additional space for you and your future home buyers to relax, but it adds to the total square footage of your home. This is an instant, guaranteed increase in your home’s value.
Along with renovating the kitchen and bathrooms, finishing the basement should be a top priority.
9. Improve the Curb Appeal
Curb appeal goes a long way during the sale. Buyers might decide if they’re interested in the home before even stepping foot inside, and they might pass if the exterior isn’t well kept.
Focus on replacing or repairing damaged siding, adding a fresh coat of paint, or giving the home a good powerwash for a quick and easy way to restore the appearance.
Don’t neglect the landscaping as well. Unhealthy trees, shrubs, or flower beds should be nurtured back to health or outright replaced. Planting new ones is never out of the question either.
10. Insulate the Attic
Most folks pay no mind to the attic. However, leaving it uninsulated allows for precious air conditioning or heat to escape. Adding in blanket or loose fill insulation is intelligent for a number of reasons.
For one, you’ll improve the home’s efficiency and save on energy costs while you’re still occupying the home. In addition, you should recoup the full cost of the renovation and then some when it comes time to sell.