Renovations That are Sure to Increase the Resale Value of Your Home

Written by Tommy Wyher Posted On Wednesday, 01 July 2020 21:26

The home is the largest investment that most individuals make during their lifetime. The home should be viewed as an investment and this is important as you will want to maintain and renovate the home to keep it current. Allowing the home to age without maintenance or renovations can have an extremely negative impact on its resale value. Most people have been in a home that it seems like time forgot and it rarely appeals to those in the market to buy. Renovations need to be prioritized with extra income so you can get the most out of your investment when it finally comes time to sell. The following are renovations that will increase the resale value of your home to help maximize your return on investment in the home. 

Adding an In-Ground Pool

The addition of a pool gives any backyard a tropical field, especially with the right landscaping. Not all climates are meant for outdoor pools as they can be expensive to heat and maintain for a month of usage during the year. Florida and California both have great climates for pools as they can be used for a large portion of the year. Pools not only cost money to maintain but the pool pump can wreak havoc on your electric bill. Being able to relax around a pool on the weekend is the ultimate form of relaxation for many individuals. Adding an outdoor kitchen can be the finishing touch so you can cook and entertain all from the comfort of your backyard. 

Remodeling Your Bathroom 

Remodeling your bathroom after years can be quite the project. Being able to gut the bathroom while utilizing the labor of contractors and a plumber is essential. You do not want a low-quality job done which can lead to water damage which in turn leads to black mold. Take the time to consider refinishing the bathroom but there are just some bathrooms that need a complete revamp. Make sure that you pick materials and colors that go together. Master bathrooms can be a huge selling point for a buyer that has always envisioned their dream bathroom in their forever home. 

Gutting the Kitchen 

The gutting of a kitchen is a staple of nearly every major home renovation project. The addition of a kitchen island is popular due to the extra counter space that it adds to the kitchen. Families congregate in the kitchen during meals or when cooking. The last thing a large family wants is to be cramped while prepping a holiday meal or entertaining friends. Cabinets are a huge cost for many homeowners due to the complexity of building/installing the cabinets. Take the time to create a list of features you want in the kitchen of your dreams. 

Replacing Flooring 

The last thing that anyone wants in their home in today’s world is the shag carpet that seemed to be synonymous with the 1970s and disco. Wood flooring is quite popular due to its classic look but it does have negative aspects. Wood flooring can easily be scratched and damaged by pets or children. Faux wood tile can be a great option if you want the classic look with the durability that tile provides. Wood flooring needs to be replaced periodically while tile can last for years to come. The ease of cleaning tile is another appeal as you will be able to wipe it down while you will need specific cleaning products for wood flooring. 

Addition of an In-Law Suite 

The age of Airbnb has led quite a few people to look for homes that have some sort of rental income potential. Being able to earn while a person stays at the house with a separate entrance is like having a roommate that you will never see. Finding a renter can be done on a platform like Airbnb or a long-term renter can be found. You want to make sure that the lease is ironclad so it is wise to find a renter through a property management company. You do not want to have to go through the eviction process as in some states this is nothing short of a nightmare. Another livable space can be great for renters or an in-law that wants to be close to their family yet still desires a certain level of privacy. 

Renovating the home not only increases the value but it also improves your quality of life in the home. Being able to call your home a haven of relaxation will allow you to truly rejuvenate after a long day at work. Do not skimp on the renovations on your home as this will come back to bite you. The last thing you want is to have to replace a newly renovated area of the home due to using low-quality materials or contractors. 

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