A clean, modern bathroom increases the value of a home.
1 How Much Does it Cost to Renovate a House?
3 Where Should You Start First When Renovating a House?
4 How Much Does it Cost to Renovate a Kitchen?
The goal of most home renovations, beyond increasing personal enjoyment, is to increase the value of the home by more than the cost of home improvements. If the home were to ever be put on the market, the seller would make a profit based at least partially on the renovations. How much the renovations increase home value depends on the real estate market, the budgets of likely buyers and the extent of the improvements.
According to House Hunt, a real estate listings site, renovating a bathroom or adding a bathroom increases home value by $9,861 and $18,226 respectively. Provide a clean, neat presentation in the restrooms to make a positive impact on potential buyers. The Staging Bug, a site that gives advice to home sellers, suggests that sellers go for clean, bright, modern décor. A buyer is turned off of a home that seems like a potential money pit with endless updating projects. Replace chipped tiles, provide ample storage and remove clutter. If you aim to keep older fixtures that are in good condition, create a vintage theme for the entire bathroom. Pick a theme such as spa or black and white and stick with it. At the very least, remove any peeling paint, and replace it with a fresh coat of paint.
Kitchen improvements, if done well, offer one of the highest rates of return on home improvement investments. According to mortgage professionals Quicken Loans, the average rate of return on kitchen upgrades is between 80 and 93 percent. Better Homes and Gardens recommends creating a bright kitchen with modern touches. Even if you plan to have a retro theme for the kitchen, update the appliances. Modern conveniences like spacious refrigerators, hooded stoves and islands are attractive features to potential buyers. Use a backsplash tile that is durable and that complements the paint color and style of the room.
Homebuilding & Remodeling, a home improvement site for homeowners, notes that a finished basement is one of the most cost effective upgrades because it increases livable space, which is something homebuyers look for and because of that, a renovated basement helps a home sell faster. Create a guest bedroom, a wet bar, a game room or all three. Handy American, a site that features a directory of contractors, suggests that homeowners start with the floor when making basement renovations. Most basements have floors made of poured concrete. Handy American presents wood subfloors or carpet as an alternative to the concrete floor. If possible, include a bath or half-bath in the basement as an added amenity.
Striker, Dee. "Tips on Increasing Home Value." Home Guides | SF Gate, http://homeguides.sfgate.com/tips-increasing-home-value-8634.html. Accessed 22 April 2019.
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