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Adding Value to a Home with Improvement Projects
Adding value to your home should be always a profitable move even if you are planing to stay longer in that house. It’s not all about how much your property will realise though. Adding value to your home improves the collateral you have and can increase chances of refinancing it with great terms. You know that your home is one of the biggest investments you will make in your lifetime. It’s vital that owners always view them this way and treat them accordingly!
The best way to improve value to your home is by investing in a few home improvements. Some renovations yield better results than others.
Here are projects that have passed the test of time and that are sure to add to your home’s value no matter where you live.
Add On A Room
In matter of fact, adding rooms can increase your home’s value overnight. Add a bathroom or bedroom. Picture two otherwise identical houses, but one is a 2 bedroom, 1 bathroom home and the other has 3 bedrooms and 2 bathrooms. Which one is worth more? This is due to the fact that larger homes can house more people, so they will cost more to purchase.
There are two ways of doing this: one is to add the rooms as extensions to the property. However, you can be faced by lack of space. This can nonetheless be averted by simply splitting large rooms into two small ones. Having more rooms after a split like this will still make a home worth more.
Remodel the Kitchen or Bathroom
When buyers look at a house, one of the first things they look at are kitchens and bathrooms. Everyone these days likes to see a spacious, open kitchen featuring stainless steel appliances, new cabinets and granite countertops. A kitchen remodel can be quite expensive, but the appeal it can add to a home on the market is exponential.
Bathrooms are the other important area. Buyers love bathrooms with lots of storage, and love large tubs and multiple sinks even more. A beautiful bathroom is something you’ll also get a lot of enjoyment out of. When it comes down to it, the bathroom is the one place inside your home where you can enjoy the quiet and just relax.
Plumbing and Heating Upgrades
It’s not as glamorous or visible, and friends can’t admire the changes. However, updating these things won’t just increase a property’s value; it’ll keep it safe from future disasters. This really needs to be considered for a home that’s older and may have to still use old copper pipes. Copper pipes are illegal in some areas, which means you might be eligible for a subsidy you can use to update your old plumbing.
Outdoor improvements such as adding a new roof, upgrading your gutters, replacing your windows or improving your home’s curb appeal can also add to the value of your home. The three suggestions for home improvement above will certainly give you the biggest value for your investment. Whether an owner decides to make more rooms, update the kitchen or bathroom, or replace pipes and other parts, the home will be in better shape for years to come.
The sooner you get started, the sooner you can start enjoying the upgrades to your home.