When it comes to increasing the value of your home, home remodeling can yield a big return on investment. However, not all remodeling projects will be as valuable as others when it comes to adding monetary value to the home or increasing your resale price. Whether you plan on selling in the near future or down the road, it would be wise to invest in a remodeling project that will increase the value of your home if you plan on renovating anyway.
It’s important to factor in the cost vs. value. For example, it’s pricey to add a swimming pool to your backyard but it won’t necessarily add value to your home like a kitchen upgrade or basement refinish would. The five remodeling projects below have a good cost vs. value ratio and will help increase the amount of money you can ask for when it comes time to sell.
Kitchen Update
Even a minor kitchen remodel can boost the value of your home. Add new hardware, replace or paint cabinetry, add a new sink or countertops and you’re well on your way to transforming your kitchen and adding value to your home to boot. While doing a kitchen renovation, it’s also important consider the overall cost of your home vs. the cost of materials. By updating your kitchen with materials that are too expensive, you likely won’t see as big as a return on your investment.
Basement Refinish
Finishing your basement can increase the livable square footage in your home, which in return can increase the value. There are many ways to refinish the basement, including adding a media room, kids playroom or home office. A great tip for refinishing your basement to increase the value of your home is to add a bathroom, which will increase the value even more than if you were to remodel the basement without it.
Curb Appeal
Investing in landscaping and curb appeal is a great tip to increase the value of your home. Curb appeal provides the first impression, and it should be a good one. Upgrades such as a new exterior paint job or new siding, a front door upgrade, updated landscaping and a newly-paved driveway can all add some extra points to your curb appeal.
Update or Add Bathrooms
Similar to the kitchen, updated bathrooms can increase the value of your home as well as entice new home buyers if you’re selling in the near future. Additionally, if there are not enough bathrooms in the house, it could be a turn off to home buyers. In that case, adding bathrooms might be a good investment to boost the resale value of your home.
Open Floor Plan
An open, airy floor plan with ample natural light can dramatically increase the appeal and value of your home. Out with the dated and dreary feel of multiple rooms in the main floor and in with an open floor plan that is warm, inviting and feels larger.
Trust our experts at Center Island Contracting to renovate your home right here on the north shore of Long Island, in towns like Oyster Bay, Manhasset, Plainview, Jericho, etc. Our qualified professional new home construction management team is here to help you build the new home of your dreams on the north shore of Long Island. For more information about our home remodeling projects here on Long Island, contact us today!
