5 Renovations that Add Value to your Home

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Whether you're looking to start your first project on a fixer-upper you recently bought or are pursuing a remodel to get the property ready for sale, your primary concern might be what will result in the highest reward. 

To demand a better price when it's time to sell, you must know which renovations will provide the most return on your investment. In the end, you'll want to make the best home enhancements to increase the value of your property. However, consulting a property management expert first is crucial to avoid costly home renovation mistakes.

Before choosing a remodeling project, compare the cost to the value of the work to see whether it is a worthwhile use of your time and resources. Your home's property worth and marketability can be increased even with a small investment in the right improvements. In light of that, below are the top five home improvements that add value to your property. 

5 Renovations that Add Value to your Home

          1. The Kitchen

When it comes to the most significant property upgrades, the kitchen is essential. Since most people want an updated kitchen without spending a lot of money to achieve it after buying a house, buyers frequently look here first when considering if a home is worth its price. You can make a variety of worthwhile kitchen home upgrades to meet your specific needs and goals, from installing energy-efficient stainless steel appliances to painting cabinets and setting up new countertops.

Interestingly, investing a small amount of money into the kitchen can have a tremendous impact. The average resale value will cover around 80 percent of the cost of a minor kitchen remodel, but only about 52 percent of the cost of a significant upscale kitchen remodel. Modernizing the cabinets and countertops, switching to brand-new appliances, replacing the sink and faucet, and updating the flooring are the most worthwhile home improvements in a simple kitchen redesign. Of course, you can always ask your property manager for advice on how to maximize renovation ROI in your fix-and-flip property.

2. Bathroom

Spending a lot of money on your bathroom renovation is unnecessary as long as it looks stylish and works well. Most contractors advise remodeling the shower area first; either add a frameless glass shower enclosure or refinish the bathtub to make it appear brand-new. 

Any home can benefit significantly from an upgraded bathroom. Include modern surfaces in remodeling projects for a spotless environment that is simple to maintain. According to the National Association of the Remodeling Industry survey, Realtors estimate that homeowners might recoup up to 55% of the cost of a bathroom makeover if they sell their home.

Space-saving cabinets, a walk-in closet, and adding an en suite bathroom if the primary bedroom doesn't already have one are other additions that can increase value. Instead of paying a handyman, you can replace your fixtures yourself.\

 Walls 

Walls with cracks and peeling paint may turn away potential buyers or simply leave them disappointed. However, if done correctly, painting and repairing your walls is a quick method to make your home look brand new without doing any major renovation work.

Ensure there are no gaps, and have your renovation contractor repair any broken parts. Also, it's a good idea to stick with a neutral color scheme to appeal to the most buyers and help sell your house faster.

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           1. Smart Home Technology 

Smart home technology, including smart heating, lighting, and security, is increasingly a sought-after feature in homes. According to market research, consumers want smart devices that can improve their quality of life, make them feel safer, and let them control how much energy they use. For purchasers who adore the concept of technology but are unsure of where to begin implementing it themselves, updating a few key objects in your home with smart technology can add a lot of value. When you enter a home that is already furnished with the essentials, it is much simpler to approach the homeowner. You can offer value when talking about issues like energy management and security. For basic alternatives, such as a smart thermostat, doorbell, leak detection, outlets, etc., you should budget about $1000 -2000.

2. Laundry Area

Everyone needs clean clothes, and having a laundry room can increase the value of your house. This frequently performed activity is made easier by having a sink, a line for delicates to hang on, a table for folding, and shelving for all the accessories. A well-considered location and well-equipped laundry rooms will be at the top of the list. It will have a significant influence if it is equipped with storage and organizing and is situated conveniently.

Even though there isn't usually ample room in apartments for a separate laundry room, a closet or a washer and dryer set can generally be found somewhere in the property and work just fine. In-unit laundry facilities are another feature that appeals to buyers that buyers want to avoid exposure to neighbors and sharing washers and dryers.

Mistakes to Avoid During Home Renovation

           1. Picking Contractors Randomly 

Take your time when deciding whether to hire a contractor. Contact the references and former clients of the contractors you interview. Ensure that each contractor is aware of your requirements. Do not be afraid to inquire about the construction process, the layout, and the materials used. Compare price quotes and references before choosing a contractor to ensure you can work well with them.

2DIY Renovation

Painting walls, hanging wallpaper, moving furniture, and perhaps even some light wood staining or finishing are some chores that are ideal for a DIY enthusiast. After all, it is a fantastic approach to lower your entire renovation price and save money. However, there are unquestionably some other jobs that are better left to experts.

The installation of large objects like new roofing, electricity, plumbing, or structural improvements is a precise and potentially hazardous task. It can cause more significant problems in your home that are more expensive to fix if it is not done correctly.

3. Buying Cheap Materials

Choose long-lasting, high-quality materials that you won't have to replace anytime soon. Ultimately, using cheaper construction materials is not a good idea and will only end up costing more in the end.

Conclusion 

Keeping up with what buyers want and what can raise your home's resale value is a crucial element of the renovation process as more and more investors make renovation investments. While it’s great to enjoy the home improvements while you live there, the right choices in home renovation can also boost its value if and when you decide to sell it.

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