Top 5 Home Improvement Ideas That Increase Home Value!

Home improvement serves two main purposes: it brings more comfort at home and increases property value. The former statement is almost always a valid statement because homeowners are always on a constant search for better life quality, but the latter is only true when home improvement is done properly with the right budget at the right time and for the right parts of the house. Not every home improvement project can increase resale value, so you may want to consider the following lucrative area.

1. Kitchen

It has been a while since kitchen sits at the top of the list for home improvement project, especially when homeowners intend to sell the property very soon with considerable return-on-investment. If you are in the same situation, there are two ways to do this: the simple inexpensive and the resource-demanding methods.

a. Paint: one of the simplest is applying a new coat of color to the walls. Never underestimate the power of paint. Fresh bright color can turn a dull kitchen into a fun refreshing place for you or your family to spend time. You can also apply a fresh coat of paint to the cabinets, as long as the colors compliment the floor and appliances.

b. Upgraded appliances: the term “upgrade” can be daunting especially when you have a limited budget. Assuming you want to sell the property in the near future, investing in modern energy-efficient appliances for the kitchen is always a safe move. According to the National Association of Home Builders, energy-efficient feature is one of top 5 most-wanted features.

c. Stainless steel sinks: if you want to go a little further, going stainless steel is a good idea. The metallic color of stainless steel brings not only the sense of durability and quality but also versatility in terms of color in case the buyer wants to change the kitchen scenery.

2. Bathroom

Bathrooms seem to get the least attention in home improvement industry. However, bathrooms are more than just a place to ensure cleanliness, but also a place for privacy. This is the only place in every house where everyone has the right to lock themselves in; no questions asked. It also means that the atmosphere in the bathroom must create the sense of relaxation and freedom from the rest of the world. You can address three major points as follows:

a. Architectural feature: although the architectural detail in a bathroom will not be a major selling point, it does not hurt to add a little bit of sophistication, for example, crown molding. The general consensus is that a house or a room with nicely done crown molding deserves to be called “upscale”, hence higher asking price.

b. Lighting: it is actually quite surprising that most people use inadequate lighting for their bathrooms. Please remember that a bathroom, especially one with a mirror, is one of few places inside the house where you can make sure that you look decent before you go out and live your life. Improve the lighting by adding bright white bulb or replacing the old one.

c. Walls: if you are indecisive about changing the current paint color in the bathroom, why don’t you try something new by installing bold wallpaper? It may sound strange but wall-coverings, especially one with bold colors or patterns make a small space look more refreshing and pleasing. This project does not cost too much, but it certainly brings an upscale appearance to your bathroom in an instant.

3. Flooring

Home improvement project that involves floor will cost good amount of money. If you choose the right type of flooring, however, the return-on-investment is satisfying. Choose one of these options:

a. Hardwood: according to Business Insider, 94% of real estate professionals recommend spending money on hardwood floors. For an investment of up to $900, the return in value can reach $2,000.

b. Laminate flooring: in case you want to sell right away, laminate flooring is also appropriate. The good thing is that you don’t have to spend too much, but you still get good offer.

c. Refinish the hardwood: one of the best things about hardwood floor is that you can sand and refinish it over and over again. If your house already has hardwood floors, you only need to do proper care and maintenance; no major improvement is necessary.

4. Room Addition

Adding a room can be an expensive venture, depending on how you do it. Sometimes it takes only a simple remodeling/renovation to transform one type of room to another. For example, a den can be as big as a bedroom but without a closet. By adding a closet, the den can now be used as a bedroom. It is simple, but it works. There are also other ways:

a. Master suite: according to a report by Remodeling, the national average of the cost recouped from adding a master suite is 64.1% for midrange house. For the upscale ones, the return-on-investment reached only 57.2%.

b. More bedrooms: as mentioned earlier, adding another bedroom is an effective project to increase resale value. You may want to consider the project more seriously because the New York Times reported in 2012 that more than 50 million Americans are multi-generational households (an increase of 10% from 2007).

c. Entertainment room: the most money-saving room addition project is by converting an existing space into another, for example converting the basement or attic to a bedroom or multimedia room.

5. Maintenance

Let us not forget that home buyers want everything to be in pristine conditions. You need to do your due diligence and check for any issues in all parts of the house including plumbing, roofing, and electrical work. Simple problems such as plumbing pipe clogging or messy wire connections can ruin a buyers’ mood.

For more information on home improvement projects and how much they cost, please click HERE for a free estimate.

 

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