Home Additions That May Increase Your Home’s ValueFebruary 24, 2022 6:26 pm Leave your thoughts
When approaching home renovations, you’re likely to address a problem that’s been irking you for a while. Whether it’s those ugly kitchen cabinets or the outdated bathroom wallpaper, you’re ready to invest in making changes; however, not all renovations are created equal.
Here are some popular updates to increase home value.
One of the quickest, most high-impact updates you can make is to paint a room. A fresh coat of paint will instantly transform the room and make it appear new again. This is also a good opportunity to get rid of any odd paint jobs in the home while creating pleasing visual contrast. Best of all, painting won’t cost you much out of pocket.
Adding attractive cabinets to the kitchen will boost the home’s value. Research has shown that cabinets have a return on investment (ROI) of 80 percent, so if you’ve been thinking about replacing those cabinets with the busted hinges, then you can go ahead knowing that you’ll recoup most of the cost.
The exterior of a house takes a beating. Rain, the sun’s rays, snow, wind and ice all have an impact on the siding. Potential buyers will be turned off by a house that looks like the siding is in poor shape. Fortunately, replacing the siding is a financially-sound decision, as it delivers a 75 percent ROI. Stone veneer is the best choice if you want the most money back possible, with a 95 percent ROI.
When you think of renovating your home, you might ignore the rest of the property, but the fact is that homes with beautiful-looking yards have more curb appeal. Having a cohesive landscaping plan will deliver a solid ROI. Properties with landscaped yards can translate to prices that are up to 13 percent higher.
Finishing the basement
An easy way to make your home more appealing to potential buyers is to have more usable square footage. That’s why a finished basement is an update that increases home value with a 70 percent ROI. Plus, you get to enjoy this space in the meantime. A finished basement makes a great home office, playroom or flex space.
The renovations that have the best return tend to be those that are most visible. Adding a custom fireplace to your home can greatly improve how buyers perceive it. The vast majority of real estate agents say fireplaces increase a home’s value by $1,000 to $4,999. If you want to snuggle up and be cozy by the fire for years to come, rest easy knowing that you will get your money back when it’s time to sell.
We hope this guide to home improvements that can increase your home value was helpful. If you’re looking for the fireplace of your dreams, then trust the pros at Custom Fire Art. Whether you want a custom fireplace, an outdoor fireplace, a fire pit or an outdoor kitchen, our team of experts can make it happen. Let us design, develop and implement your ideal fireplace. Contact us today to learn more and receive a free estimate.
Categorised in: Fireplace Designer
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