With the drastically changed circumstances that defined the last two years, we see our homes in a new light. Gone are the days when we see our homes as just a place of rest or merely a place where we live. Nowadays, our homes can also be a home office, a vacation place, and everything homeowners can think about, making home renovations a more worthwhile investment than ever. A remodeling project can also increase home value aside from creating extra living space. With an improved curb appeal alone, the added value to your home can mean hundreds of thousands of dollars. So, if you want to increase the resale value of your home or transform it to become the dream home you always wanted, there are many options for remodeling projects available for you.
Home Improvements To Add Home Value
Improving Your Home’s Curb Appeal:
Curb appeal provides an excellent first impression of your home to potential buyers. A real estate investor publishes your home’s appearance in a remodeling magazine or real estate publication as a banner in the first place. On average, potential buyers will pay 7% more for a house with a curb appeal they like. A few of the most affordable and high-value ways you can achieve this are:
- Improving your landscaping by tidying up your yard
- A fresh coat of exterior paint
- Replacing your garage door
- Replacing the exterior trim and sidings
- Adding low-voltage wiring on the driveway and walkways
Bathroom Improvements:
A home’s resale value can also be helped by improving the bathroom. Many agents can attest that an excellent bathroom can clinch deals or tip the scales to favor your house over the others. One of the most desired improvements for bathrooms is using a double-sink vanity.
Adding Livable Space
More potential buyers prefer larger homes because of the conditions presented by recent events, such as the pandemic. More usable space can accommodate additional working space or other purposes because residents tend to stay at home longer than ever. One of the best ROI from adding livable space is adding drywall, flooring, and other touches to an unfinished basement to turn it into a den. Converting a porch into a four-season room can also increase your home’s resale value.
Kitchen Remodel Projects
Another appealing home improvement option is a kitchen remodel project. As more people see the kitchen as the heart of the home, making the kitchen accommodate more people doing food preparation tasks is desirable. A few of the best ways to add desirability for kitchen remodel are additional refrigeration space, multiple sinks, refrigerator space, and a flexible pantry, among others.
Enhancing Outdoor Space
As more people begin spending more time outdoors within their property, an enhanced outdoor space is desirable. As families spend more time together within their homes, swimming pools and fire pits for garden or pool parties are activities that are more sought after nowadays.
Aside from improving your garden, installing a swimming pool, a deck addition, an in-ground hot tub, an outdoor kitchen, and an outdoor fireplace or fire pit are excellent home improvement options that can enhance the resale value of your home.
Interior Improvements
Other trending home renovations that increase home value improve home interiors, specifically if they have energy-saving features. Window replacement on existing homes allows for more natural light, thereby saving on energy costs. Another home improvement option prevalent in the remodeling industry is installing smart home technology. More than just a novelty, smart devices can also help save power in the form of smart thermostats, as well as improve home security. Though these don’t add much to the overall value of your home, these features appeal to many potential homebuyers who may be looking for these features.
Building or Converting a Space Into a Home Office
As many homeowners have members working at home, a space that can accommodate a home office is desirable. Whether you have an unfinished or a finished basement, you can add features to accommodate everything a functional home office would contain. You may remove shelving and cabinets and place a tabletop and appropriate shelving to adjust what a home office will require. You may also utilize one of the rooms to serve as a home office.
Funding Your Home Renovations
Knowing how do home renovation loan work is key to selecting the right financing options for you. There are several options available for you to maximize the real estate transaction to cash in on the added value to your home. You won’t have to worry about monthly payments later if you have enough cash to finance the lump sum you need. However, if you can pay your mortgage quickly, a home equity loan presents an excellent second mortgage option for you. Other home renovation loan options are also available to you, such as those offered by banks that use your home value after renovation, which can potentially allow you to borrow enough money to accommodate the high average cost of home renovations. For simple fixes, you may opt for unsecured loans. However, you must be cautious of its high-interest rates and short loan terms.
Takeaways
Thanks to the insights provided to us by the National Association of Home Builders and the National Association of the Remodeling Industry for insights on which remodeling projects can add the most value to your home. Moreover, each square foot of space matters for a home remodel to ensure that the margin you gain from the added value is greater than the renovation cost.
To help ensure that you can get the best value on your home remodeling projects, select a dependable home remodeling contractor that knows how to add value to your home through their work. With decades of experience helping clients with renovating work, A1 Home Repair is the best option for home remodeling contractors you have if you are a homeowner from Scottsdale, Gilbert, Phoenix, or in the East Valley Area. To know more about the home renovation projects we can do for you, visit this page.
Call us at (480) 343-0886 for a free quote and to learn more about our home improvement services. You can also visit this page for a free quote.
