Are you considering a home renovation or addition? Whether you are planning to sell your home in the near future or simply require additional space, opting for home additions or remodeling can be a wise investment. Not only can it increase the value of your home, but it can also provide you with a more functional and comfortable living space.
Some improvements, such as adding an additional bedroom or bathroom, can provide a high return on investment. Additionally, well-planned and high-quality home improvement projects can attract the attention of potential buyers, resulting in a greater number of buyers and a higher resale value.
So what are those improvements that will give you the best return? To answer your question, we have compiled some top improvements that you can think about if you are planning for home additions in the upcoming time.
Upgrading your Kitchen
Kitchens are one of the rooms in a house that are used the most, and they are frequently the center of activity for family get-togethers and meal preparation. An attractive kitchen can make a house much more appealing to potential buyers when it comes time to sell. Therefore, you should consider kitchen renovations that include modernized cabinets, refrigerators, and other necessary appliances if you want to get good value for your house.
Replacing old fixtures and hardware will also contribute to improving the overall look and feel of the space. Consider upgrading the kitchen faucet, adding stylish cabinet hardware, and replacing outdated light fixtures with modern, energy-efficient options. The kitchen can be given a quick makeover and made to look more welcoming with these reasonably easy updates.
Remodeling the Bathroom
Your bathroom is a private haven inside your house, used for more purposes than just storage. You can easily turn it into a spa-like heaven by making small but thoughtful improvements, which will also raise the value of your home.
For most potential buyers, having a thoughtfully designed and functional bathroom is important. They place great importance on having a relaxing and comfortable bathroom. It can be expensive and time-consuming to undertake a full bathroom remodeling project, which includes removing outdated tiles and replacing fixtures. However, there are more simple and budget-friendly ways to refresh and update your bathroom's appearance.
One simple and effective solution is to replace the caulk around your bathtub. Over time, caulk can become discolored and cracked, detracting from the overall aesthetic of your bathroom. By applying fresh caulk, you can instantly create a cleaner and more polished look. You should also consider replacing the vanity, toilet, and tub with more contemporary, fresher models.
According to recent research, most homeowners choose to modify their bathrooms before selling their homes. This statistic highlights the importance of having an attractive and functional bathroom, as it can greatly influence the perceived value of your property.
Installing Hardwood Finishing
When it comes to timeless home design, hardwood floors take center stage. You can plan to install the hardwood finishing to improve the look and value of your home. This home improvement idea will give you a higher return value. If you spend about $3000 to $4000 on hardwood finishing, then in return, it will give you $4000 to $5000. These floors not only add a touch of natural beauty to your home but also stand the test of time, making them a reliable choice for any decor style.
Hardwood floors can cost anywhere from $5 to $20 per square foot, so while they may be a bit more expensive initially, they are ultimately a wise investment. Another benefit that it offers is the ease of cleaning and maintenance, so it can be used by all types of households.
According to a report by the National Association of Realtors and the National Association of the Remodeling Industry, putting in hardwood floors is a wise financial decision. It's an investment that recovers 118 percent of its cost, proving that the initial expense is worth it. Moreover, if you already have hardwood floors but they're showing signs of wear, refinishing them can give your space a facelift.
Convert a Basement
A smart and worthwhile investment that can significantly increase the value and usability of your home is turning a basement into a usable space. But basements are frequently ignored and underutilized in most houses. You can bring a number of advantages to your property by planning and carrying out a creative conversion project.
You can plan to convert your basement into an inviting and versatile extra bedroom. This cozy retreat provides a private space for guests and family members, or even a dedicated space for hobbies and relaxation. Alternatively, you can also convert it into a productive home office, offering a serene and focused environment away from the main living areas. And those who love lots of entertainment can convert that into an entertainment room complete with a large screen and comfortable seating space.
Besides that, there are a number of possibilities that you can try with your basement. A playroom for children, a fitness area for staying active, or any other idea—your basement can accommodate it all. By adding valuable square footage to your home, you not only increase its overall livability but also expand its value in the real estate market.
In the current scenario, investing in energy-efficient upgrades for your home is a smart decision. Along with increasing the resale value of the property, it also offers numerous benefits. These upgrades not only make the environment more sustainable, but they also greatly increase the attraction of your property to potential purchasers.
Here are some key upgrades to consider when you are planning for this project:
1. Energy-efficient Windows and Doors
Energy use and utility costs can be significantly decreased by switching to energy-efficient windows and doors. To reduce heat transfer, you can look for models with tight seals, low-emissivity (Low-E) coatings, and double or triple-glazed glass. These features not only effectively control indoor temperature but also improve noise insulation, resulting in a cozy and peaceful living space.
2. Smart Thermostat
By installing a smart thermostat, you can remotely regulate the temperature of your house and save energy according to your schedule and preferences. These devices can effectively reduce energy waste, which lowers utility bills. The sophisticated features and sleek design of these devices make them a desirable addition to any modern home.
3. Energy-efficient Appliances
Another option you must have is to replace old appliances with energy-efficient models. It is a great way to cut down on your energy usage and save money in the long run. Look for appliances that carry the ENERGY STAR label, indicating that they meet strict energy efficiency standards. These appliances consume less energy without compromising performance, making them a smart investment for both your wallet and the environment.
Adding a Swimming Pool
Potential buyers can be strongly attracted to a swimming pool in areas where outdoor living is highly valued and the climate is pleasant, such as Boynton Beach and Boca Raton, Florida. Installing a swimming pool can indeed be a big financial investment, but it can also make a big difference in your home's value. A beautifully designed and properly maintained pool can be a major selling point, offering a lavish and enjoyable feature that can significantly increase the appeal of your home. It can provide a place for families to spend quality time together, children to play and swim safely, and adults to relax and entertain guests. A well-maintained pool can also enhance the aesthetic appeal of a property, creating a beautiful focal point and adding to the overall ambiance.
But, before making a choice, you must carry out in-depth research and take the state of the local real estate market into consideration. Based on the location and particular trends in the housing market, a swimming pool's return on investment can vary significantly. A pool may not have as much of an impact in some locations, but in others, it might be viewed as a highly desirable feature that can greatly raise a home's value. The pool's dimensions, shape, and general upkeep also affect the property's appeal to prospective purchasers.
Update Light Fixtures
The cost of a home addition or renovation is not a lesser amount but with the right improvements, you can get benefits from that investment in the long run. It is impossible to overstate how important lighting is to creating the mood in your house. Spaces with outdated or insufficient lighting can appear dull and unwelcoming, which casts a shadow over their actual potential. But you can breathe new life into your living areas and instantly change their visual appeal with a well-thought-out light fixture update.
Select lighting fixtures that are in line with the storyline of each room's design so that they not only add sufficient lighting but also blend in well with the surrounding furnishings. You can create a visual symphony that enhances the overall appeal of your home and transforms it into a warm and elegant haven by carefully choosing fixtures that match the style of your home. You can opt for energy-efficient LED bulbs, which are a smart addition.
When it comes to selling your home, these seemingly small upgrades can have a substantial influence on potential buyers. Investing in home improvements is not just about making your living space more enjoyable; it's also a strategic move to increase your property's value. Whether you're planning to sell in the near future or want to enhance your current lifestyle, these improvements can offer a solid return on investment. Prioritize upgrades that align with current market trends and appeal to a broad range of potential buyers to ensure the maximum impact on your home's value.
If you are looking for the best home builder for your home addition or renovation, you can get in touch with EG Homes Florida. We have years of experience fulfilling the expectations of our clients. Our experts will perfectly match your expectations and budget. So, what are you waiting for? We are just one call away.