A look at why and how to increase your property value according to our experts.
There are many reasons to improve your property value. Increasing your property’s value is a great way to make your home more comfortable and enjoyable. Additionally, a high home value comes in handy during mortgage refinancing and makes it easier to obtain home equity loans and lines of credit.
Finally, if you intend to sell your property in the future, a boosted home value would mean a higher resale price. The right renovations go a long way in boosting your property value. Discover some impactful home renovations and how they add value to your property.
Roof
The roof is one of the most critical components of your house because it protects you from the sun, wind, and rain. In addition, the roof affects the overall property’s curb appeal and plays a critical role in your home’s energy efficiency.
A damaged or worn-out roof will make your home look unappealing and lead to severe problems like water leakage and mold growth. A shabby roof will also create a negative impression on potential homebuyers, lowering your property’s resale value.
Therefore, keep your roof in good condition by repairing or replacing it when necessary. A new roof can be an expensive project upfront, but there are options for getting the price manageable like financing and having great homeowner’s insurance. Plus, the dramatic increase in ROI is worth the trouble.
Windows
Windows play a pivotal role in protecting your home from the elements and also help to regulate temperature. Unfortunately, old and drafty windows can make your home uncomfortable and increase your energy bills.
Installing new energy-efficient windows is a great way to boost your property value. Not only will you be able to save on energy costs, but you will also make your home more comfortable and eco-friendly.
Kitchen
Many refer to the kitchen as the heart of the home, and for good reason. The kitchen is where families and friends gather to cook, eat and socialize. Your kitchen should be functional but it should also be up-to-date. If your kitchen is outdated, that can turn off potential homebuyers, no matter how great the rest of your house looks. When renovating your kitchen, pay careful attention to the countertops, appliances, cabinets, and light fixtures. You don’t need to go for the most expensive materials and brands, but make sure everything is intentionally placed and built with higher quality materials. Better quality surfaces and finishes will last longer and tend not to fall out of trend. According to Remodeling Magazine’s 2022 Cost v Value Report, a well-renovated kitchen in our region can offer up to 53% ROI, which means you will recoup 53% of the renovation cost if you sell your property, so it’s definitely something worth investing in – not to mention the increased comfort you’ll experience using and living in the kitchen of your dreams!
Bathroom
Like the kitchen, the bathroom is another important room in the house that potential homebuyers will pay close attention to. A beautiful and well thought out bathroom can make a huge difference in boosting your property value.
When renovating your bathroom, make sure that everything looks intentional and beautiful, because people are in the bathroom every day! You don’t need to go for the most expensive materials, but make sure you’re investing in good quality options because they will last longer. Higher quality building materials more often look timeless, so they will retain value over time rather than becoming another outdated trend or fad.
Consider investing in a luxurious bathtub or a rain showerhead to give your bathroom an added wow factor.
These are just some of the renovations you can do to boost your property value. Remember that not all upgrades are created equal — some may offer a higher ROI than others. Do your research and consult with a professional before embarking on any major renovation project.
You can trust us at Distinctive Renovations & General Contracting to provide you with quality services and exceptional workmanship. With our extensive experience in home renovation, we have the expertise and knowledge to help you increase the value of your property.
