Renovation Ideas that will Increase Your Property’s Value – And Some You Should Avoid
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Some people will assume that certain additions will automatically add to their property’s value and ability to sell, but that is simply not true. Not all renovations are winners with everyone, and some additions could actually end up affecting your home’s value negatively. This is why you should do your homework before you do any renovation to know if you’ll actually be able to make a return on your investment. Here are some of the best renovations for your home’s value, and a few you should avoid.
Sensible Bathroom and Kitchen Refurbishing
Notice the emphasis on the word “sensible”. While redoing a kitchen or a bathroom can, and will, usually add value to a house, making changes that are too major or niche could be an issue. For instance, one of the worst things you could do is add a whirlpool bath in your bathroom.
Some people will wonder how anyone would not want to have a whirlpool bath, while others might wonder who is even taking baths these days. While this may seem like a no brainer to you, it might actually deter some people, not to mention the astronomical costs of installing one.
And if you decide to do work in the bathroom, always work with a professional. This is especially true if you want to move things around. If you want to do work in both the bathroom and kitchen, consider hiring a general contractor like Advantage Construction inc. Services like these can handle all sorts of home renovation projects, and will be able to upgrade your kitchen and bathroom according to your specifications.
Reinventing a Room
If you have a basement, finishing it is one of the best things you can do. Not only will it be put to use, but it could eventually become an additional source of income and a selling point. Make sure, however, to make the room as versatile as possible. While a wine cellar can be nice, it is a bit too niche, and could limit the kind of sellers that will be interested in the house.
Adding a Deck
Adding a deck is one of the best additions you can make to any home, and is also one with the highest return on investment. A deck could cost you a couple thousand dollars to build, but add much more to your property. And the best thing is that this is something you could do yourself if you have the basic skills.
Renovations You Should Avoid
It’s also important that you know the additions you should avoid at all costs. For instance, inground pools are not a great idea if your sole purpose is adding value. For one, not everyone wants a pool, and two, when they do, they usually want it to fit their specifications.
Elaborate gardens are also a no-no. Again, the backyard is a very personal area for many buyers, and you might not share the same tastes. Seeing a done-up garden could be a nightmare to many home buyers, even if it’s beautiful. They have to consider the costs of having everything removed and remodeled, so this is something you have to watch out for.
Also, make sure that the renovations you make do not clash with the rest of the house or neighborhood. So, if you have an old Victorian house, avoid things like an ultra-modern kitchen, for instance, and try to stay within the theme.
If you want to increase the value of your home, make sure that you renovate with prospective buyers in mind first and foremost. Don’t get carried away in pet projects and make sure that you keep costs under control if you want to make significant returns.