Renovation Projects That Add the Most Value to Your Home
The most important things to consider when deciding to build an addition are:
If you plan to sell your home sometime in the future, you should consider the first factor when deciding on a remodel. Some home improvement projects add more value than others, depending on where your property is located. For example, buyers might pay more for a house with hurricane windows in Florida. In areas that rarely get bad weather, such as Maine, these kinds of windows might not attract much attention from buyers.
However, many agents and contractors agree that some home improvements are always good investments no matter where you are in the country. The following are some examples.
Master Suite
A popular remodeling project is turning the main bedroom into a master suite. This can include a sitting area, a walk-in closet, and a bath. Master suites can increase your home’s value by as much as $67,000. At the same time, you can recoup as much as 65% of remodeling costs.
Family Room Addition
A family room is a popular addition to modern homes. It can increase the value of your home by as much as $50,000 on average, and you can recoup approximately 65% of remodeling expenses.
Basement Remodel
A growing trend in renovation projects is transforming a basement into livable space, such as a bedroom or den. A midrange basement remodel can add as much as $46,000 to the value of your home on average and recoup 75% of its cost.
Kitchen Upgrades
Because of how quickly the technology changes, old appliances can make your kitchen look and feel dated. Remodeling your kitchen can increase its functionality while adding significant value to your home. In addition, you can recoup as much as 72% of upgrade costs.
Attic Renovations
Don’t waste the extra space in your attic—turn it into a small bedroom or convert it into a recreational area instead. An attic renovation can add more than $40,000 worth of value to a home, and you can recoup more than 80% of project costs.
Sunroom
A sunroom can double as both an indoor and outdoor addition. Depending on your preference, adding one can be a simple or complex project. Sunrooms with walls that roll completely up are costlier to build than ones that function like screened-in porches. A sunroom may recoup approximately 50% of its costs.
Garage
If you have more than one automobile, extra garage space is essential. People who have boats or RVs may also prefer to store their vehicles in indoor garages while not in use. A two-car garage can add as much as $36,000 to the value of your home and recoup 62% of its cost.
Bathroom Modifications
Transforming an existing bathroom into a master bath suite with dual sinks, a jet tub, and a standing shower will definitely add value to your home. Many buyers consider the master bath as one of the most important rooms in a home.
Adding a bathroom to a property that only has one can also up the resale price of a property. A bathroom addition will add more than $20,000 of value to your home and recoup 60% of its cost.
Home Office
Having a home office is essential for those who prefer working in their house rather than a corporate environment. This addition will recoup almost 50% of its cost and increase the value of your home by nearly $13,000.
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Joe Carpenter Remodeling has been providing superior home improvement services for more than 35 years. We offer our remodeling and renovation services to commercial and residential clients. To get more details about our services, send us a message. We will respond as quickly as we can. We look forward to hearing from you!