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Maximizing your home’s value is key to getting the most out of your biggest investment, whether you wish to stay in your home long-term, until the markets in the area heats up, or want to increase value for a quickly approaching sale. Custom home upgrades can be a great way to increase your comfort while you live in the home as well as increase its potential resale value. However, all upgrades are not created equal.
Certain custom home upgrades provide significant value to your home in addition to improving your life while you reside there. Better yet, taking care to make any of these upgrades a green project can help you recoup more of your initial investment with energy savings until you decide to sell.
Homeowners undergoing a kitchen update regularly recoup anywhere between 60 and 120% of the remodeling investment upon sale. However, notice that we’ve also included the term “smart;” with kitchen remodels, it is exceedingly important that you keep the aesthetic and value of both your home and neighborhood in mind. Most importantly, if you plan to sell within the next five years, remodel with potential buyers in mind and include “smart” technology.
Adding a bathroom can increase your home’s value, especially if you currently only have one or two. Depending on the size, materials, fixtures, and accessories you choose, you could recoup as much as 130% of your investment. Look for additional space for your bathroom project in oversized or underused rooms, as well as in spaces like extra closets or under-stair spaces.
Adding another room to your home – especially an extra bedroom – is another way to increase value as well as appeal to a whole new tier of potential buyers. While not as lucrative as a kitchen or bathroom addition, an extra bedroom can net you as much as a 57% return on your investment. To qualify as a bedroom versus a bonus room on your real estate listing, your addition must include a closet and at least one window.
Finishing an unused basement or attic space can add square footage to your home without the added cost of taking on a total room addition. While you make your conversion plans, keep future buyers in mind, and maintain as much flexibility as possible for your new rooms. Versatile finished basement and attic spaces can recoup as much as 80% of your initial investment.
Premier Builders can help you make decisions during all stages of your custom home build or home remodel to ensure you recoup the majority of your investment.
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Contact us to setup an appointment today. Call (419) 794-5958 or visit www.nwohomebuilders.com.