4 Home Improvement Projects Guaranteed to Increase Your Home’s Value
If you are planning to sell your home now or at some point in the future, choosing to renovate is a great way to boost its value and increase your earning potential. It can be challenging to decide what home improvement projects you want to tackle first. Not all renovations will add value to your home, especially if the market is in a slump. Some renovations even have the potential to decrease your home’s value. Unless you plan on doing a full renovation, be selective with the spaces you choose to upgrade. Here are some home improvement projects you should consider if you want to increase the value of your home:
A Kitchen Remodel
The kitchen is arguably the most important space in any home. It’s where people gather to spend time with their friends and family. Upgrades to the kitchen almost always pay off. In fact, you can expect to get back 60-120% of your investment when you remodel your kitchen. Although, kitchen remodels tend to be expensive. Surprisingly, a lot of people who anticipate remodeling major parts of their home actually pursue a contracting license. Hiring an independent contractor means expensive fees on top of what it costs to remodel the kitchen.
To get your contractor’s license, you have to pass a state exam. Check out some prep courses for helping you pass your exam in states like North Carolina.
Switch to Energy Efficient Appliances
Consider replacing old appliances in your home with newer, energy-efficient appliances. Not only are energy star-rated appliances better for the environment, but they help you save money since they require less energy. People who are looking to buy a house are more likely to purchase a property with energy-efficient appliances because this means a cheaper energy bill.
Add a Bathroom
This tip is especially true if your home only has one bathroom. Adding a second bathroom means you are likely to regain a large sum of the investment you put into your house.
Consider flipping underused spaces like spare bedrooms or closets into a bathroom. Many people who have space under their staircase take the opportunity to add an extra bathroom. If you have a room that’s big enough, you may be able to get away with adding two bathrooms. This is great if you have two bedrooms that are close to each other. These rooms will be more appealing in the eyes of potential buyers because of the added privacy and convenience of extra bathrooms. The cost of this type of project varies depending on the size of the bathroom. To save money, visit your local home improvement store and ask if they offer discounts on floor models of toilets and fixtures.
Build a Deck
Many people neglect their backyards and miss out on a great entertaining space. If you’re not taking advantage of your outdoor space, you’re losing out on the opportunity to earn some extra money when you sell. Outdoor living spaces make homes much more desirable. The thought process behind this is that people won’t spend as much on vacations since they have a dedicated vacation spot in their own backyard it also gives you the opportunity to add an outdoor kitchen, which is quite trendy nowadays. For increased value, considering adding accessories like built-in seating, water features, or a garden.
You will save a lot of money by doing the work yourself. Getting your contractor’s license will allow you to make improvements to your own home and create a new source of income if you choose to take on clients.