Upgrading your home can be a fantastic way to improve your living environment and add value to your property. However, unless it is done correctly, your remodeling project could cost you money without increasing your home’s value at all. Choosing the best upgrades is not always straightforward. Some obvious improvements are upgrading systems such as your plumbing and electricity. These are excellent ways to improve your home’s safety and efficiency, and certainly valuable upgrades. However, to increase the value of your property, the following three remodeling projects are an exceptional starting point.
1. Update Your Kitchen
The kitchen is the heart of many homes, and it is important to make the most of this space. This can include installing new appliances or useful features, such as a water filtration system. The aesthetics of your kitchen will also affect its value, so repainting or retiling this space can make a significant difference. Other upgrades may include upgrading gas valves and pipes, replacing the flooring and installing new work surfaces and cabinetry. The importance of this room means that every upgrade you make will add some value to your home. Even a minor kitchen remodel can bring a return of over 80 percent of your investment in terms of the value it adds to your home. So the more you put into this practical remodeling project, the more you will get out of it.
2. Add a Bedroom
Additional bedrooms are an excellent means of increasing the value of your home. Each one you add can improve the financial worth of your property by 4 percent. If you build these as an extension to your existing property, that figure may be even higher as every 1,000 extra square feet can up your home’s value by over 3 percent. Attic bedrooms are considered particularly favorable, with an estimated return of over 70 percent of the investment you make in them. For example, if you spend $30,000 on the room, over $21,000 could be added to the value of your house.
3. Remodel Your Bathrooms
Bathrooms are also an essential feature of every home, but these rooms can fall into disrepair quickly. Consider replacing sinks, bathtubs and toilets, upgrading your plumbing, and perhaps installing a more efficient water-heating system. Retiling and improving the overall aesthetic of your bathroom will make it a more pleasant space to use, while also increasing its value. You may even consider installing an additional bathroom, particularly if you have chosen to add bedrooms to your property. A half bath, including just a toilet and sink can improve your property’s value by up to 10.5 percent. Include a bathtub and this new bathroom can up the value of your home by a staggering 20 percent. If you’re looking to add value to your home, these are great places to start. Invest in having a plumber install any plumbing aspects, even if your upgrade will mostly be DIY, to avoid costly disasters later.