Most homeowners will engage in some type of home improvement at some point in their lifetime, such as remodeling, altering, painting, repairing, renovating, converting or modernizing of residential buildings.
But not all home improvements offer equal returns; some could decrease your house value while others provide significant returns on investment.
1. Add a Deck
Decks add valuable square footage and are an attractive feature for potential buyers, making your backyard the perfect setting for social gatherings and outdoor entertainment.
Home improvement refers to any work conducted on residential and noncommercial property to renovate, remodel, restore, convert, move or demolishe it for improvement purposes. This may involve insulation installations; painting; re-grouting tiles and power washing among other tasks but does not involve undertaking an entire house makeover.
2. Add a Garage
Additions like garages can significantly increase resale value. Some homeowners even choose to convert their garage into living space such as a rec room or playroom.
Converting your garage can be costly and requires adhering to strict building codes and zoning laws, making this project one that you should seek professional assistance for.
3. Add a Sunroom
Sunrooms (also referred to as solariums or four-season rooms) can add significant value to your property. These versatile spaces connect you with nature while still offering all of the comforts expected in indoor living environments.
Sunrooms count as livable square footage when calculating your home’s worth; however, decks and porches typically don’t. Furthermore, sunrooms provide excellent returns on investments.
4. Add a Secondary Suite
Secondary suites (also referred to as auxiliary dwelling units or granny flats) add value to properties by providing extra income that helps with mortgage affordability and increasing density in low and medium density areas.
VR design makes secondary suite construction and retrofit easier, so both parties involved stay on track throughout their renovation project. VR designs removes any confusion about what works or doesn’t when renovating an existing home, keeping both parties on the same page throughout their project.
5. Add a Fireplace
Fireplaces add warmth and coziness to any room while helping reduce heating costs – particularly in colder climates where utility rates may be more costly.
Homebuyers often prioritize fireplaces when searching for their dream property, making a fireplace an invaluable addition to your property and potentially increasing its marketability. It may also make your property more appealing to prospective buyers.
6. Add a Fence
An aesthetic addition, fences add curb appeal while simultaneously delineating property lines for potential buyers to understand where their future property begins and ends.
Before installing a fence on your property, be sure to have it surveyed in order to avoid potential issues when selling later on. This can prevent potential hiccups when selling off the property later on.
Buyers typically desire a fence for safety reasons, especially if they have young children or pets in the household.
7. Add a Deck
Home improvements encompass any addition, alteration, remodel, repair, painting or decoration of residential or noncommercial property as well as landscaping improvements and other exterior enhancements.
Addition of a deck can add tremendous value to any home renovation project, increasing outdoor living space and serving as an excellent spot for entertaining.
However, like other home improvement projects, decks don’t usually recoup their costs through increased resale value.
8. Add a Deck or Patio Extension
Homebuyers love outdoor spaces designed for entertaining and relaxation. Adding a porch, deck or patio is an affordable way to increase living space in their house.
However, keep in mind that costs associated with these projects might not be fully recouped when selling. Therefore, prioritizing upgrades within your budget is critical.
9. Add a Fence
Fencing can add significant value to your property by providing privacy and defining your yard. Before installing one, however, it’s crucial that a professional surveyor mark out your property lines clearly so you don’t end up installing an unwanted fence!
Remodeling an entire house can be expensive, but there are numerous do-it-yourself projects you can undertake that can add significant value. For more advice, speak to a RamseyTrusted real estate agent.
10. Add a Deck or Patio Extension
Decks and patios add outdoor living space for potential buyers to relax, entertain and play in. Before adding an extension to an existing frame or supporting posts, ensure they are adequate.
These home improvement projects can help increase the value of your property without breaking the bank. Just keep in mind that their effectiveness may vary and that there may not be an immediate return on investment.