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Top 5 Home Renovations to Add Value to a Home This Year
The things you do around your home can add value to it or take away from the value. You can even get started on most of these projects now, while contractors are available and product costs less. Even if you do not plan to sell your home or take out a loan on it, adding function to it through a few home renovations is something worth doing.
Is It Worthwhile? Not all home renovations prove to be beneficial in the end. Before you take on any project, you'll need to consider two important factors.
1. Will this project add value to my home in the eye of an appraiser?
2. Will this home add function or improve my overall satisfaction to my home?
If you answer yes to either or both of these things, it may be time to tackle that renovation project.
Top 5 Projects to Do This Year
What projects are going to add value to your home from the view of an appraiser? The following are some of the best choices. Customize them to fit your specific needs.
1. The Kitchen - It is the single most important area of the home and remodeling it, upgrading it and sprucing it up does both improve its function for your needs and add value to it in the long term. Your goal here should be to modernized - upgrade appliances, replace cabinets, invest in energy efficient appliances and add lighting.
2. Remodel the Bathroom - Add a bathroom or remodel the ones you have. This is one of the best ways to add value to a home especially if you do plan to sell. Master bathrooms add more value than others do, but any full bath (with a tub or shower) is also an important advantage. Modernize with new fixtures or replace cabinetry.
3. Add a Deck or Redo the One You Have. This can add more usable space to the home. It also ensures that the homeowners have great access to the outdoors. Adding any type of patio will work well but consider environmentally friendly products or composites instead of traditional products. They last longer, look great and are safer for the environment.
4. Hit the Basement. By remodeling, cleaning and modernizing the basement, you will add more usable space to the home. A dreary basement is not going to be a good value. Handle any water or foundation problems first. Then, transform the area into living space. Add paneling, a recreational area or a game room. Just using the space in a tasteful way is going to add value to your home.
5. Simple Home Renovations - Finally, look for things around the home that need attention or that could use some sprucing up. For example, painting is one of the least expensive ways to add value to the home because it is fresh and clean. Replace carpeting. Add in a hardwood floor instead of the other products currently in place. Replace doors or other wood that is damaged. Look through your home to find areas that need a bit of fine-tuning or cleanup and handle them.
Home renovations in general can add value to the home - but the amount of value added is not always the same as it costs to install the new fixtures or update the space. The key is ensuring the renovation you do increases value to the home as well as usability for your own needs. Doing this can be a complete transformation the space or just minor changes to it. The end goal is the same - make your home's value higher because the space is modern and with better usability.
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