Find Out How Home Improvements Increase Home Value
Written by Artisan Contracting on June 3, 2015
As a homeowner it can be important to increase the value of your home, especially if you’re thinking of selling your property. As a homeowner, regular maintenance and replacing dated components is very important. However, there are some improvements you can make that will actually make your home worth more in the marketplace.
In this post we’re going to examine home additions that actually don’t add value to your home, as well as, the most common additions that will increase its value.
What Kind of Additions are Overrated?
When you’re making additions to your home to increase its value you have to be careful about the upgrades you’re making. A lot of homeowners end up sinking a lot of money into their homes for the sake of improvement, and end up with little to show for it.
1. Swimming Pools
Swimming pools are very expensive installations, require extensive maintenance, and a lot of homeowners aren’t looking for a pool. In some areas, a swimming pool can slightly increase the value of your home, but the operating costs will offset any investment you make into your pool.
2. Focus on High End Appliances
Kitchen remodels can actually increase the value of your home, but usually it’s the simple improvements that go the farthest. If you’re too busy making costly kitchen improvements chances are they won’t repay themselves when you want to sell your home.
3. Heavy Landscaping
Landscaping your backyard can create an outdoor oasis that transforms the way your home looks. However, if you go overboard with your landscaping it won’t do a whole lot to increase your home’s sale price.
Making small changes to your landscape will do a lot more to increase your curb appeal, rather than investing a ton of money you won’t be able to get back.
4. Overbuilding Your Home
While adding certain home additions can certainly increase the value of your home, making improvements that increase the value of the home too much you can actually price yourself out of the neighborhood.
The home might be beautiful with all of your additions, but causing your home to be overpriced for the neighborhood will make it less desirable.
5. Improvements You Can’t See
Invisible improvements are those that make your home more comfortable, but don’t actually add anymore aesthetic appeal.
This can be additions, such as, new plumbing or HVAC. These will make your home more comfortable, but should be part of your regular maintenance plan, and not an upgrade to increase your home’s value.
Common Home Additions to Increase Value
When it comes to home additions that will increase the value of your home it’s important to think simple. Below you’ll find a few common additions that will increase you’re sale price.
1. Simple Kitchen Remodel
The kitchen is one of the most important rooms in your home. You’ll see your kitchen remodel pay off as long as you don’t take it to the extremes. Often, a new paint job and upgrading to energy efficient appliances will do the trick.
2. Bathroom Addition
Adding an extra bathroom to your home can greatly increase the sale price. The cost of the bathroom will depend upon the size and the appliances you use.
3. Remodeling Your Existing Space
By reinventing a room you can greatly increase your home’s value. However, you have to be careful as the cost of the remodel can increase very quickly. Common room remodels include, finishing a basement, converting an attic, or adding an apartment over your garage.
If you’re ready for a home remodel or other construction project, then request a free consultation today!