7 Home Add-ons that will Increase to the Market Value

Written by  //  June 28, 2016  //  Home Addition  //  Comments Off on 7 Home Add-ons that will Increase to the Market Value

Some of the good news to homeowners who are planning to renovate their homes is that after some years of decline the capital you invest in renovation can recoup. However, this does not mean that after your sale you will recover a similar amount used up in the projects. The estimated return after conducting home improvements is 60% to 65%. This is up from the average value of 55% to 57% a few years ago. The sudden rise is due to the increasing prices of homes around the country. Therefore, this can be the best time to invest in your home if you are planning to sell.

There are many projects that you can undertake to improve your home. Consider green upgrades and start working on them to enjoy the benefits. Some of the projects you can undertake include:

Creating Space

You can start by knocking down some of the non-structural walls or removing the kitchen island. Use all means to open up more space and create a sense of flow in your house to generate a good response from buyers who are choosey. This project will only use up a few hundred dollars, and you will have transformed the feel of your home. Buyers want a wide open floor plan where the living room is located right off the kitchen.

Add a Bathroom

If your house has a single restroom you stand to get more from your investment if you add another bathroom. Adding a second bathroom is estimated to recoup 90% to 130% of the total amount you use.

Add Energy-Efficient Windows

Most buyers’ today shop for homes that are energy efficient. This means that the old and drafty single-pane windows turn off most buyers. It is estimated that homes that have energy windows can save over $500 per year in heating and cooling expenses. It is also estimated that you can recoup 70% to 90% by investing in windows that are energy-efficient.

Energy-Efficient Insulation

A home that does not have the basic insulation most likely has old doors that allow hot or cold air in. A home inspector who is selling such a home will include this feature in their report and buyers can shy away from purchasing it. This is because such homes can be expensive to maintain and live in.

Install a Swimming Pool

One of the current rules of thumb is that a swimming pool can only give back 50% of the pool investment. However, the truth is that there is no known formula to value a pool. A pool can be a key factor in the sale of your home. To install one, get above ground pool dealers to give you an estimate of how much it will cost. Swimming pools can increase the value of your home if they are in a good condition, you live in a place with a warm climate, and if most homes in your area have swimming pools among other reasons.

Remodel Your Kitchen

Buyers want kitchens with modern styles. Older homes with an improved kitchen will add value.

Add Basic Updates to Your Home

Basic updates often add value to your home. This can include repainting the house, replacing rotten wood, getting rid of mold, and fixing the roof if it is leaking.

There are several improvement options you can consider to add value to your home. However, if you are planning to remodel your home focus on energy efficiency upgrades that add character and comfort to your home.

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