Did you know that only a fraction of home renovation projects will add value to your home? It feels like any upgrade to your property should have a corresponding effect on its resell price, but depending on things like cost, quality and market trends, some renovation projects can actually lose you money in the long run. If you want to avoid this fate, choose one of the home remodeling projects below.
Kitchen remodels are always a safe bet for improving market value. Since the kitchen is the centerpiece of a home, buyers tend to judge the overall worth of a property by how much the appliances gleam. Don’t be afraid to replace that stove or upgrade that refrigerator, especially if you’re going in an energy-efficient direction; you’re almost guaranteed to recoup your costs later. Countertops are a bit trickier since materials and aesthetics go in and out of style, but a little research can go a long way.
2. Attic Bedroom
Attic bedrooms can add a lot of value to your home, but they have to be done right. You can’t just throw a mattress in there and expect buyers to be impressed. You’ll need proper electricity, drainage and insulation, and if your attic doesn’t already have them, you should think about adding windows as well. No one wants to be cooped up in a dark hole. They want a fully functional living space that just so happens to be above the rest of the home.
3. More Bathrooms
Extra bathrooms always pay off when it’s time to sell your home. Experts suggest that you can recoup anywhere from 80-130 percent of your installation costs when you add another bathroom, and this includes half-baths as well as full baths. You don’t even need to get fancy. Any closet or unused space can be converted to a small, functional bathroom.