Did you know you can remodel your house to increase its value? Talk to any interior designer or real estate agent, and they’ll tell you how houses with a few added elements not only fetch a better price, but also get sold quickly.
Remodeling your home has numerous benefits, but doing so within your budget can be a daunting task. When we talk about increasing home’s value, we include everything from a new paint job to upgrades to your kitchen and bathroom to simply improving the physical aspect of your home with new furniture. All this combined can boost your home’s value by up to 70 percent if you do it right.
But, do not get intimidated. You can start small and it will give you many benefits. The first point you should remember is that you cannot neglect any corner of your house. From the entrance door to the kitchen cabinet, anything and everything is of importance.
So without much ado, let’s move ahead with some tips on what you can do to improve your home’s value:
1. An Extra Spark With Outdoor Kitchens
Outdoor kitchens are turning out to be exceptionally famous. It’s something you can easily highlight when you put your house up for sale. Getting an outdoor kitchen can cost as low as $5,000 or as high as $500,000. The Return on Investment (ROI) is around 10 percent, which is a pretty good number. But, if you use the right material and your house is placed in a nice location, the ROI on this investment can go as high as 150 percent.
An outdoor kitchen gives an extra spark to your home. On one side you can enjoy yourself and host parties like never before. On other side, you can make a good amount of money as it is considered an investment. However, you need to be wise when it comes to investing in an outdoor kitchen.
There are a number of options available to you. If your budget does not allow much, you can pick a grill and place it outside. However, if you have the budget and space to do more, you can add a patio and other elements such as a refrigerator, outdoor lighting and a seating area to make your outdoor kitchen standout. While some of the items in an outdoor kitchen can be moved once you sell the house, the overall look would still add value to your house as you can use the outdoor kitchen to entice buyers.
2. Swimming Pool
A swimming pool can be a decent upgrade for your home and will surely increase your home’s value. Some things to keep in mind while getting a pool for your home is to make sure it is of correct size and suitable according to your location.
Swimming pools can increase the value of your home, and you’ll likely be looking at an ROI of about 15 to 25 percent. The cost to get a swimming pool lies between $5,000 and $12,800, depending upon the size and depth. However, maintaining one can be a daunting task, so make sure you make this investment wisely.
In addition to this, remember that the ROI on a swimming pools vary according to the area. The yields lie somewhere between 6-11 percent. If you live in a neighborhood where there are less swimming pools, your house is probably going to pull more buyers.
3. Bathroom Remodeling
Bathroom rebuilds are an ROI magnets. An average human spends over one hour and 42 minutes in a bathroom, as per a recent survey. According to experts, a bathroom is typically the first thing anybody will notice about your house, so do not make the mistake of neglecting it.
A bathroom having two sinks, decent lighting and a custom shower is likely to increase the value of your home. Making it sparkle with fresh new paint and lavish accessories can also be helpful. If you have the budget, you can invest in a radiant heat floor mat or new bathtub.
If you have enough space, you can even change your bathroom into a full blown spa. It can give you an ROI of around 85 percent, but the cost can be as high as $6,000. However, normally, spending to remodel a bathroom can be a wise choice as it yields a 62 percent ROI on average, depending on if you do it correctly. A usual job would cost you around $1,500 with improved tiles and painting.
4. Renovating Front Yard
Renovating your front yard and expanding it won’t cost as much as most interior rebuilds. Adding pavers, suitable outdoor appliances and different touches can increase your home’s value.
If there’s an extra space that comes in the vicinity of the front yard or backyard, then it would be wise to push it out and merge it with the front yard. Most renovating specialists say that renovating and rebuilding your front yard can give you returns of around 12 percent.
If your budget is sufficient and you can afford a lavish front yard, then we suggest that you focus on an extensive front yard makeover. Improved landscaping and a garage can give you returns as high as 72 percent.
5. Beautifying The Walls With Fresh Paint
Painting your house gives the home a more contemporary look that will engage both residents and purchasers. Repainting the inside of your home and keeping it cozy with soft color tones greatly increases your home value. If you’re good at it, you can save some money by doing the job yourself.
Go for flooring options which are noiseless and provide a smooth experience and try to get rid of carpet flooring as it can be an issue when it comes to cleaning. Hardwood flooring is considered a favorite by many.
These are some modest changes that you can make to increase the value of your home. The key lies in using space the right way and adding elements that others want to see, such as an outdoor kitchen. However, make sure to check ROI before you make an investment.