As a homeowner, you may be seeking ways to add value to your home. Like many others, you may not be aware as to which upgrades to go for. Some upgrades yield more market value than others. Choosing between repainting a room and remodeling the bathroom may be difficult in the eyes of those who have the capital to do either. This article will explain which upgrades will provide the highest return on your investment.
Bathroom upgrades can offer great return when you decide to sell your home. Remodeling these may be a burden, expensive, and time-consuming, but they often return more than 100% of one’s investment. Depending on your current situation, you may choose between a couple of options. If the home being worked on has only only one bathroom, adding a second will add a great amount of value. Homes with multiple bedrooms can improve greatly with this addition. A second bathroom can increase the value of a home by twice as much as adding a bedroom would, 8.7%. If the home already has multiple bathrooms, replacing whirl-pool baths with walk-in showers can be a very good investment. Baths are rarely used, as most people don’t have enough the time to use them. Walk-in showers are much more useable and save square footage.
Maintaining your home is very important as well. The upgrades made to a home will not matter if a potential buyer sees that the roof is leaking upon entry. Buyers who see that they will need to put more money into the home after it is purchased are more likely to walk away. Deciding on the importance of basic amenities should be influenced by where your home is located. Fixing a leaking roof may return more in the Pacific Northwest than it would in Southern California.
Adding more space to your home can return great value on your investment. This may come in the form of adding various types of rooms to the home. Every 1000 square feet has the ability of increasing the value of one’s home by 30%. A family room can return about 75% of the money you put into it. In addition to the extra money you will earn when the home is sold, you will have the pleasure of enjoying these upgrades while you are there. Extra rooms can also be very valuable in the eye of a buyer. What may be an extra room that has no purpose for you, may be “man cave” or fitness room to somebody else.
These are some of the most valuable upgrade that can be made to your home. They yield the highest returns on your investment. These are the larger upgrades that can be added to the home. They may be more quite expensive and time-consuming, but they are very good for homeowners who have both.