Top 5 Constructions That Will Add Value to Your Home

Written by  //  December 9, 2015  //  Home Remodeling  //  Comments Off on Top 5 Constructions That Will Add Value to Your Home

Whether you’re looking to improve the functionality of your home or you have your eye on a future sale, knowing which improvements will bring you the best ROI is half the battle. Do you modernize the kitchen, splurge on landscaping or focus on energy efficiency? According to an array of industry insiders and real estate professionals like Harry Dhaliwal, these are the top five construction projects that add value to residential properties.

1. Kitchen Upgrades

An upgraded kitchen with nice flow and EnergyStar appliances will add 9-10% to the value of your home. Even something as simple as replacing cabinets or repainting will enhance the space for very little cost.

Pro tip: Try to keep the overall style of your kitchen in alignment with the rest of your home; if you have an 18th century house, a 21st century kitchen will look out of place.

2. Add a Bath

Adding a second bath, rather than an extensive overhaul of an existing bath, may add up to 6% to the value of your home. Focus on function, not on luxury.

Pro tip: Water conservation measures like installing low-flow toilets and tankless water heaters were the bathroom improvements with the best ROI.

3. Re-purpose Bonus Space

Room additions are nice, but they rarely recoup much of their cost. A better alternative is to refurbish your basement or attic to create a den or extra bedroom. This will add up to 10% to the value of your home.

Pro tip: A cost vs. value study showed that converting an attic to a bedroom offered an 84.3% return on the investment.

4. Increase Energy Efficiency

Replacing outdated windows and insulation are just a few lost-cost energy improvements that will add value. Installing a solar-powered water heater could save you as much as 80% on your energy bills, and add 30 – 40% of its cost to your resale value.

Pro tip: A study by the Appraisal Journal found that improving energy-efficiency adds twenty times the annual savings to the value of your property

5. Tidy-up the Exterior

An all-out landscaping project may transform your garden, but you will rarely recoup the initial investment or the time and expense spent on maintenance. However, pruning that tree the keeps your sitting room in a state of perpetual gloom or keeping shrubbery and lawns neatly trimmed will allow potential buyers to focus on the structure of your home.

Pro tip: An inexpensive exterior upgrade is to add a new entryway door; this one small change will give you up to a 96.6% return on your investment. If your front door is weather-proof and in good shape, simply repainting it can appeal for very little cost.

Regardless of whether the property markets are up or down, anything that will give you the edge over the competition may result in increased profits and faster sales. One of the keys for a successful home improvement is to strike the right balance between adding to your comfort now and creating interest among pot

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