People all over are making a choice to not sell their home until the real estate conditions improve. Instead the best bet would be to use the time to increase the value of the home. The value of a home not only depends on invariable factors like the location or the carpet area, it also depends a lot on the aesthetic value that is attached to it.
A home with perfect painting fetches more value than the one with peeling paints when prospective clients come to have a look. This goes a long way to establish the fact that remodeling the house will enhance the look and thereafter the price that it can fetch. Here are the best remodeling ideas that you can use to increase the value of your home.
Remodeling the kitchen:
Remodeling the kitchen goes a long way in increasing the visual appeal of your home. Many people consider the kitchen as the heart of the house and therefore a well maintained kitchen definitely fetches more value. It is however important to note that one must not go overboard. Restoring the paints, repairing chipped corners of the marble slab and other minor details do the trick. Experts are of the opinion that one can typically fetch around 120 % of the investment on the kitchen remodeling as long as one does not go overboard. Another point to be noted is that one must not try to make the kitchen fancier than the rest of the house or the neighborhood.
Adding a bathroom:
If the house you want to sell has only one bathroom, you can consider adding an extra one. Experts from HGTV are of the opinion that one can recoup around 80 % to 130 % of the investment by adding an extra bathroom. Any extra room or even under – utilized spaces can be considered as an option to upgrade into a bathroom.
Even unlikely spaces like closets or areas under the stairs can be made into a bathroom. However, if you want a full bath complete with a stand-up shower, make sure to have at least 30 feet of space. One would need 35 feet of space if one wants a bath tub in the bathroom.
Reinventing another room:
If you want to add more square footage to your room, it is a good idea to add another bedroom to your home. One must take note that the budget for reinventing a room can quickly go out of control. Any home remodeling show will touch upon the fact that a room reinventing that is estimated to cost $15,000 can quickly become as much as $30,000 as soon as the home owners or the contractors run into any unexpected problems. It is therefore advisable to reinvent existing spaces in your home to save money. One can finish the basement or convert the attic to a bedroom. One can also add small apartments in or over their garages which they can rent out. This provides for another extra source of income.
Energy efficient windows:
The energy efficient windows are the new fad these days. Buyers will be turned off by the old, drafty single paned windows. Energy efficient windows can up to $500 a year in heating and cooling costs by making the entire home more energy efficient. Experts are of the opinion that around 60 % to 90 % of the investment costs on the replacement windows can be recouped by upgrading the windows to become more energy efficient.
Adding a deck:
Deck addition can significantly increase the value of a home. More and more people these days choose to stay over for vacation. It is therefore advisable to make the deck or back yard more appealing to increase the value of your home. The cost of adding a deck to your home varies widely. It can set you back with anything between $1,200 and $10,000 which depends a lot on the size and a little on the design and materials used.
Once can consider one or more of these options for remodeling the home and if planned effectively, also get back the invested money in the form of increased value for the home.