Certain home improvement projects add value to your home. It’s important to know how to prioritize your time and resources to make your home worth more when you sell it.
Homebuyers focus on the kitchen when considering a purchase. A kitchen remodel is one of the most effective projects for increasing your home’s value. Upgrade the appliances with energy-efficient models and replace the countertops and cabinets for a more modern look. These projects help the kitchen look better and also save money on utilities.
Projects That Add Value to Your Home: Bathroom Addition
Adding a new bathroom to your home goes a long way towards making your home worth more. Look at underutilized spaces or extra rooms. For example, is there any room under the stairs? Can a closet be revamped into a bathroom?
Consider these area sizes:
- For a half-bath, you need a space of at least 18 square feet.
- For a full bath with a stand-up shower, you need a space of 30 square feet or more.
- For a full bath with a bathtub, you need a space of 45 square feet or more.
The costs associated with adding a bathroom depend upon the size of the bathroom, materials used, and features. Many homebuyers put multiple bathrooms on their list of must-haves.
Reinvent a Room
Are there places in the home where you can reinvent an existing area? For example, you might convert your attic or basement into a bedroom. You might even add a small apartment over your garage and add income by renting it out. Adding a short-term rental space is one of the most effective projects that add value to your home.
Use Energy-Efficient Windows
Buyers want to know that they’re buying an energy-efficient home and won’t like drafty single-pane windows. Replacing old windows with energy-efficient windows can save you up to $500 per year in utility costs.
It’s possible to get tax credits by performing this work. The job may cost thousands of dollars that can be recouped with energy savings and tax credits.
Deck Projects That Add Value to Your Home
Homebuyers find decks appealing when deciding on a home purchase. Adding a deck is one of the most affordable ways to increase the living space of a home.