A growing number of homeowners have decided to not to sell their house mainly because the real estate market continues to remain in a slump. They have opted to stay put until things improve. Now that you have decided to stay in your house instead of moving to a new one, you may be planning different home improvement projects to make your house more comfortable. Several home remodeling projects do not add value to your house. In a down market, it could even cause a decrease in the asking price once you decide to sell your home. On the other hand, there are a few projects could add more value to your house.
Home Remodeling Ideas To Increase Your Home Value
There are many Myrtle Beach home remodeling projects that add value to your house and enhance the quality of life of your family. By working on these projects right now, you can enjoy the updates and benefits. In case you make green upgrades, you may also begin recouping your investment in these green energy technologies when you finish the projects.
The kitchen has long been thought of as the heart of a home. Given that, updating this part of your home always pays off. Homeowners are expected to recoup between 60% and 120% of the investment they made on a kitchen remodel provided that they do not go overboard. You must never make your kitchen more extravagant than the rest of the house or worse, the neighborhood.
If your house only has a single bathroom, you can get back a large portion of your investment through the addition of another bathroom. Homeowners who go for a bathroom addition can recoup as much as 80% to 130% of whatever you spend when you add a bathroom. In terms of finding a room in your house for an additional bathroom, check out any extra rooms or underused spaces. Take into account these spaces like the areas under the stairs or closets as well. In case you would like to have a full bath that includes a stand up shower, you should have an available space of at least 30 square feet. In case you would like to have a bathtub, you need to have at least 35 square feet to work with. Just like any project, the cost of a bathroom addition is based on the kind of additions as well as accessories you would like to use as well as the cost of all these items.
Reinventing A Room
The addition of more square footage to your house with a brand new room could be an expensive undertaking. Even though you could get back some of your investment, between 50% and 83%, the costs of the project can easily go out of control. Just switch on any of those home renovation TV shows and see how easy it is for a $15,000 home remodeling project become $30,000 or more.
You should reinvent the existing space in your house to save cash. You can transform an attic into a bedroom or maybe finish a basement. Several homeowners could also add tiny apartments in or even over their garages, and put it up for rent.
Add Energy Efficient Windows
Today, buyers look for houses wherein energy efficiency has been taken into account. Drafty, old single pane windows tend to drive home buyers away. According to Energy Star, homeowners who add Energy Star-rated windows can enjoy huge savings of up to $500 a year in their heating and cooling bills.
Investing in energy efficient windows lets homeowners recoup as much as 60% to 90% of the costs. They may also get a green energy tax credit of 10% for this particular upgrade provided that Energy Star rated windows were installed. They may also qualify for other credits from the state or the utility company.
Adding a deck will boost the value of your home. Outdoor living spaces are now more desirable since more people are staying home for vacation. You should also make your backyard and your deck more appealing if you want to attract more potential homebuyers when the time comes that you decide you wish to sell your house. You can recoup as much as 65% to 90% of your investment if you add a deck.
The cost you have to cover when adding a deck to your house will depend on the size, the bells and whistles you add, and the deck’s size. Obviously, you can save a large amount if you decide to do the work yourself. But remember, deck construction is not easy. You should have specific tools and the cost of the tools you need are usually quite expensive. Buying them could just be a waste of money especially if you won’t be using them all the time.
Energy Efficient Insulation
In case your home has insufficient insulation, has outdated doors that allow the entry of hot and cold air, the home inspectors that are working with potential home buyers will include these details in their reports. Houses that have not been updated with energy efficiency in mind will cost more to maintain and live in. Updating your house to save energy does not need to cost you a fortune and it can also make your house more appealing to potential home buyers.
Basic updates will add the most value to your house. These includes keeping the pain fresh, fixing the roof whenever it leaks, replacing the woods that are already rotting, and getting rid of mold. These kinds of chores will keep your house from deteriorating after some time. Potential buyers would like to have a solid, healthy, and safe home, plus they carefully search for signs of routine maintenance.
Call Keystone General Contracting if you need professional help in remodeling your home.
Keystone General Contracting
Myrtle Beach, SC