Which Home Renovations Add The Most Value? And Which Don’t?
Written by Artisan Contracting on January 15, 2018
Original article posted Jan 15, 2018. Content updated Apr 24, 2023.
As homeowners contemplate the various renovations that can improve the look and feel of their homes, they quickly discover that not all renovations are created equal. One of the fundamental questions you might ask is: how likely will I get a return on my investment if I choose to renovate?
In this post, we’re going to examine which home additions do and don’t add value to your home, as well as the expected costs of the most common remodelling projects.
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. Many homeowners end up sinking a ton of money into their homes for the sake of improvement, and end up with little to show for it. Here are a few upgrades you may want to think twice about:
1. Swimming Pools
Swimming pools require very expensive installations and extensive maintenance, and many 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, it’s possible to go overboard.
The home might be beautiful with all of your additions, but causing your home to be overpriced for the neighbourhood 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 any 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 that DO 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 extreme. 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.
Average Cost of Common Remodels
While the kitchen has always been the heart of the family and the most popular room, the total cost of kitchen renovations varies widely. According to HGTV, the average cost nationally to remodel a kitchen is over $30,000.
That said, replacing appliances with new updated models, installing granite countertops, designing and installing custom cabinets, flooring such as tile, recessed or under counter lighting or center island, a kitchen remodel can run upwards of $40,000 to $100,000 or more.
Mid to Upper-Range Kitchen Remodel
Here are some examples of what you might expect to find in a mid to upper-range kitchen remodel:
- A total rework of the space that includes moving everything (yes, even the kitchen sink!), which means new plumbing, electrical, air ducts and so on.
- Professional-style appliances, such as a 48-inch built-in stainless steel refrigerator to a 48-inch cooktop with grille and double convection ovens.
- A custom island for food preparation and a counter with seats.
- Custom cabinetry that fits the design of the kitchen for both beauty and functionality.
- Designer hardware, such as antique knobs and handles. Pricey, but worth it since you’ll use them constantly.
- Wood flooring, porcelain tile or a stone floor for a stunning finishing touch.
- Stone counters and backsplash such as quartz or natural stone material such as granite.
- Lighting is an important part of the renovation, whether it’s under-counter, recessed or hanging fixtures.
Mid to Upper-Range Bathroom Remodel
Bathroom remodels provide some of the highest resale returns on investment, but they don’t come cheap and can take time to complete. Therefore it is essential to gather and plan your bathroom remodelling ideas ahead of time and find the right contractor for the job.
Here are some examples of what you might expect to find in a mid to upper-range bathroom renovation.
- A new bathtub, walk-in shower, or Jacuzzi for a touch of luxury.
- New cabinets, either premade or custom made to fit the design of the room for beauty and functionality.
- Countertops such as stone or natural stone material such as granite.
- Porcelain, stainless steel or stone sink/s set into one/two vanity cabinets.
- Faucet/s and other plumbing fixtures.
- Toilet or addition of a bidet for style and comfort.
- Lighting fixtures for a bright yet welcoming setting.
Artisan Contracting can Help
For an enjoyable, high-quality renovation experience, Artisan Contracting can help you get through the stress and worry about your upcoming project. You’ll love our work, and we’ll help you make smart, informed decisions about your renovation.
If you’re ready for a home remodel or another construction project, then request a free consultation today!