It’s generally accepted that any renovations and upgrades on your home will ultimately increase its value, but not all upgrades will automatically pay you back the money you’ve spent in terms of additional home value. The good news is that some repairs are conversely worth every penny, and that’s what we’re gonna focus on today.
If you’re looking for ideas on how to increase home value or if you’re planning on investing in a new home improvement project, then consider these upgrades that will definitely pay you back!
“Quality is not an act, it is a habit." – Aristotle
Upgrade the Garage
Although the garage is one of the most important parts of any home, it’s often ignored when it comes to upgrades.
This is probably based on the fact that you don’t spend nearly as much time in there as you do in the house. But even then, a garage upgrade will easily help you recoup all your investment in no time.
It’s estimated that spending roughly $1,500 adding a mid-range garage on your home will return up to 83% of the money in added home value.
A New Deck
It’s always great to pick a renovation that you’ll actually be able to enjoy year-round with your family. Well, there’s no better option here than a deck.
We all love to spend time outdoors and a deck expands your outdoor living space considerably, giving you a new spot for hangouts, BBQs, or even just to relax and read a book.
The good news is that investing on a deck will return most of that money. For example, a mid-range deck fully built from scratch usually costs around $9,500, and you can expect to return at least 87% of that money in overall home value.
Converting an attic into a livable space, with some cozy furniture and lighting, is now a very popular renovation project for many homeowners, and it’s not hard to see why. A functional attic adds more living space and also gives your home that chick trendy appeal.
You can expect 84.3% of the investment back in the overall value of the home. Although some people may argue that sprucing up the attic isn’t really an essential renovation project, if you need some extra space or if you’re prepping your home for the market, it’s definitely worth considering.
A Full Kitchen Upgrade
For those of you looking for the best ways to add value to your home, then you cannot afford to ignore a kitchen upgrade.
The great news is that kitchen remodeling is one of the most popular home renovation projects so it’s something you’ve perhaps already thought about. But in case you’re on the fence, you’ll be happy to know that a full kitchen remodel will indeed pay you back.
Typically, a small midrange kitchen remodeling project can cost around $18,000 or thereabout, and it’s estimated that you will make at least 82% of it back if you sell your home.
All New Windows
Windows play several key roles in your home. They are responsible for enhancing ventilation and letting in natural light into those spaces, but they are also integral in the external appeal of your home.
High quality modern windows will go a long way in giving your house beautiful aesthetics and that curb appeal that you’ve been looking for, as well as make the interior feel much more open and fresh due to the extra natural light coming in.
On average, a window replacement project that costs slightly above $10,000 should return nearly 80% of the cost, which is a high return rate for a remodel.
Remodeling the Basement
The basement, just like the attic, is a versatile space that can be used to expand the living spaces in your home. Whether you want to turn it into a home theater or an extra room, the math does indeed check out as far as cost and value go.
Some more complex basement spruce up projects including adding insulation and ventilation can cost around $62,834. However, you can expect to make about 77% of this amount back with increased home value.
Every homeowner out there is always looking for ways to increase home value and while there are so many ideas to go for, the ones above should definitely be considered first.
Ready to start your remodeling project? Contact a local renovation company to request a free quote!