As the current real estate market is a bit unpredictable, more and more homeowners have decided to put their plans of selling their houses on hold. Very smart move! But what can you do in the meantime? Certainly not just sit around and wait for things to get better?
How about making some property adjustments that can further augment your home’s value, so that when it does become time to sell, you pocket some extra cash?
And if you’re wondering what home remodeling projects you should invest in, just read further…
As the heart of any home, the kitchen is one of the first spaces potential buyers look at. And studies have shown that you can expect to recover about 60%—120% of your investment on a kitchen renovation – just don’t overdo it.
Remember that your kitchen must never be fancier than the rest of your house, or the neighborhood. Always keep potential buyers in mind if you plan on selling within the next five years – the majority of people won’t go for an overly deluxe kitchen in a regular neighborhood.
Rather consider painting your cooking space with some low-VOC paint to make your kitchen more eco friendly. And replace those old appliances with energy-efficient models.
You don’t need to add an extension for a new bathroom – how about taking a look at extra rooms or underutilized spaces? Perhaps there’s a spacious closet that can be redone to become a water closet? Or how about that underused area under the staircase?
To include a half-bath in your new bathroom, you’re going to need at least 18 square feet. For a full bath with a stand-up shower, up it to 30 square feet. And if you want a bathtub, increase the legroom further to least 35 square feet.
How about remodeling an existing room to give it new purpose? Finish off that basement, convert the attic into a guest bedroom, or even add a small apartment over / in the garage.
Versatile rooms always have greater appeal to potential buyers!
Of course you can also look to the space outside your home to increase your property value. Winter might be creeping closer now, but spring and summer will return – and when they do, a new deck can be the ideal space for some outdoor entertaining.
But when it comes to the costs of adding a deck to a home, the results vary greatly. The size, the type of finishes you want, plus the convenience factors (such as built-in seating, stairs, fire pit, etc.) can all influence the price greatly.
Updating your home so that it saves energy in the long run doesn’t have to cost a fortune. But before you resort to new insulation, start by sealing cracks around the house. And check for leaks around doors and windows, electrical sockets and light switches, the attic hatch, in the basement, as well as anywhere ducts and wires lead outside your house.
Instead of one major home remodeling project, you can split it up into various tiny touch-up tasks. Splash some fresh paint onto surfaces, fix that leak in the roof, replace rotting wood, and banish any mould you discover. All these types of projects will keep your home from deteriorating over time.
Speaking of styling up your property, we have these 10 ideas for garden fences that could work…