Over the past five years, the home improvement industry grew at 5.3% annually. The market value size of this industry stands at $235.3 billion in 2022 and will increase by 1.5% by the end of the year.
Home renovations make sense for a variety of reasons, not only can they increase the space and buyer options for your home, but quite often if will bring you a large return on investment.
Creating more safe space for your children to play, or adding that much needed home office for the many industries that have now moved out of brick and mortar locations. Conducting home renovations can also be a great way to increase the amount of interested buyers, and the number of offers procured when selling.
Read on to learn simple home renovations that can increase your home's value.
You don’t have to spend a lot of money and time upgrading your exterior areas. A little landscaping can go a long way in increasing the value of your home.
You should see that the bushes and overgrown plants in your yard are well-trimmed before showcasing your property. Really provide that seasonally ready, relax and enjoy your summer vibe. Ensuring such little things are in order can make a willing buyer eager to see the inside of your home instead of moving to another property, that is screaming backyard barbecues with their friends already.
The number of people working from home has increased significantly, especially after the Covid-19 pandemic.
Homebuyers often care more about a home office than they do about whether the house is move-in ready or not. Some buyers will prefer a house with more than one home office/homeschooling space. This doesn't have to always be a dedicated space and even something as easy as staging a loft or closet conversion can relay those easy options to the buyer in their brainstorming.
You might consider overhauling or changing a few aspects of your bathroom space. Bathroom remodeling doesn't have to give you that much of a budget stretch.
It’s advisable to discuss your renovation ideas with a professional remodeler or even just starting with your realtors opinion. A DIY approach can be taken on simple items, but if you're getting into anything structural or electrical, getting a second opinion on if a permit will be needed or not is going to save your biscuits in the long run.
Tile showers, new flooring, fantastic lights, clean countertops and a great framed mirror, can drastically change the space.
The kitchen space is slowly becoming the new multi-purpose room in most homes. Besides accommodating the cook, your kitchen can also serve as a workstation for children and adults.
Some people use their kitchen area as a congregating area for family meals and dinner parties. New kitchen cabinets are amazing, but quite often painting the cabinets in place and adding hardware are a great affordable alternative.
Upgrading your kitchen lighting can make your space look larger and like somewhere you want to spend your time, even if it is doing dishes, brightness works wonders in mood. If a buyer has good feelings when walking through your home, they are going to give it their all in trying to get their offer the chosen one.
Among the essential parts of a house is the roof, so potential roofing problems or replacing the entire roof is a project that any serious home buyer will notice. Likely your first indication of some needed roof repairs will be moisture staining in your attic. With our true four seasons, the seals on the roof vents do start to deteriorate, these can be so important and be more affordable than you think. Having the moss and algae treated and cleaned from your roof will also not only extend the life, but will show your home has been well maintained over the years. Unfortunately roofs don't last forever, if yours is getting up there in age, it may be a good idea to have a few quotes prepared if it comes down to negotiating that out with a buyer later. In any event, many buyers think it is a great way to clean the moss off with a power washer, don't do that, you will likely take years off of the granules.
New ParagraphIt is alwasy helpful to have a budget for your home renovation plans. While it might cost you some extra cash, the return on your investment will be great. There may even be home equity lines of credit available by your lender for such projects.
Contact us today to discover more renovation ideas that increase your home value or set up a personal onsite consultation.
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