Do you know that renovating certain parts of your property can actually increase the overall value of your home? Whether you intend to sell your home someday or use your home equity to fund your retirement needs, renovating to increase the value of your home can be a great option. Here are some renovations that you should keep in mind if you are trying to increase your home’s value.
Where Do Renovations Increase Value: Bathroom Renovations
One of the primary renovations that can increase your home’s value is a bathroom renovation. Renovated and upgraded bathrooms can be connected to a higher ROI in a home sale. You can even earn around 67% of the cost that you put into the project as part of your sale. Some bathroom renovations can be pretty minimal, such as adding a fresh coat of paint and some new decorative elements. Other bathrooms might require a bit more extensive renovating, such as new tile, an updated shower, or a stylish countertop.
Another renovation that you can do that will add to the value of your home is a kitchen renovation. In a kitchen renovation, it is important to plan your color scheme and materials ahead of time so you make sure that your final look will be cohesive. No matter the layout of your kitchen, your cabinets will be one of the center focal points of your space. Cabinets are crucial to the interior design of your kitchen. Make sure that you choose a design and color that will complement the rest of your space and look good with your countertops, your backsplash, and your appliances.
Where Do Renovations Increase Value: Exterior Renovations
When you’re working on renovating your home, don’t forget your home’s exterior. By updating and adding to your exterior, you can increase your home’s value and make it seem a lot more attractive to a potential buyer. For example, if your home has a lot of brick or stone on the outside that seems outdated, painting it or using a lime wash to give it a fresh, trendy look is a great option. Additionally, if your deck or front porch is outdated, add some new paint or accessories to make it new. You can also add some fun exterior features such as a swimming pool, a fire pit, or trampoline that will add value to your property.
If you are wondering how you can increase the value of your home, keep in mind the renovations that have been suggested in this article. While home renovations definitely take time, planning, and money, they will pay off in the future…literally. As you work on renovations that will fit within your budget and match your lifestyle, you’ll be able to increase the overall value of your home.
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Steelbridge Realty LLC is a Licensed Real Estate Brokerage that utilizes cutting-edge marketing techniques and data-driven Real Estate solutions in today’s ever-changing environment. Our group of professionals have decades of experience and have navigated through many business cycles. Our diverse background gives us the tools to guide people towards successful decisions.