As a homeowner, you want to get the most out of your investment. Whether you're planning to sell your home soon or just want to increase its value over time, there are several steps you can take to
Best Renovations for Adding Value to Your Home
Dated: February 23 2022
Views: 171
When we renovate our home we are typically doing it because we want to enjoy the improved aesthetics or functionality while we live there. That being said, it is nice to know that any improvements that you make can increase the value of your home which is useful when it comes to selling or refinancing.
Spending a lot of money does not guarantee the greatest increase in value, some renovation projects will deliver more bang for your buck! Here are the most cost effective ways to add value:
Paint
Nothing will make a house look clean and fresh easier than a new coat of paint. This goes for interior and exterior surfaces. When choosing interior paint colors, light neutral colors have the broadest appeal. Going for 2 tone finishes will give a more high end look (e.g. lighter color on the ceiling than the wall or even an accent wall) but avoid using too many colors or the house will look mismatched.
Flooring
Changing out the flooring will quickly change the look and feel of a house. There are a very broad range of options to suit all styles and budgets. Solid flooring in living areas and carpet in bedrooms remains a reliable choice. We will say this for those that need to hear it: do not put carpet in the bathroom! Luxury vinyl tile (LVT) flooring is very popular as well as being affordable, it has a broad selection of visually appealing styles and is durable enough for homes with children and pets.
Kitchen
Known as the heart of the home, it is where we spend large amounts of time. If you want to really get top dollar when selling, buyers will expect to see an updated kitchen. This does not have to mean a full removal and install but in some cases simple updates such as: painting cabinet doors and updating handles, adding solid surface countertops, upgraded light fixtures, a modern tile backsplash or upgrading to modern appliances can make a huge difference.
Bathrooms
Similar to a kitchen, buyers love updated bathrooms. Renovations can be expensive if you need a complete tear out and reinstall. Lower cost upgrades include: modern fixtures, improved lighting and modern tiles.
Fixtures and Hardware
These can be relatively low cost items that usually do not need a professional to install. Some free time on a weekend, $100 and a trip to your favorite hardware store can make a huge difference. Think about replacing things such as old bulbs with LED bulbs, upgrading door handles, curtain poles and even light switches and fixtures (use an electrician unless you're sure you know what you are doing).
Major systems & safety items
Now this isn’t exciting but items such as HVAC, water heaters, plumbing (including sewer lines or septic systems), roof and electrical systems are important. They may not do much in terms of visual appeal but if they are not well maintained and fully functional can wipe tens of thousands off the value of your home. Additionally, the basic functional items of the home also have the same effect, doors should open and close correctly, windows should be free of cracks or misting, all locks should all function properly, garage doors should open and close etc.
Every home is different and factors such as the style, location and age will alter which style choices and levels of finish are appropriate. If you are considering any renovations we would be more than happy to provide you free advice, just send us an email info@AllisonResidential.com.
Nick & Brittney Allison
We are a Husband-Wife real estate team located in Chico and serving the wider Butte County area. As professional full-service Realtors, we are able to assist buyers, sellers and investors at all stage....
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