4 UPGRADES THAT INCREASE YOUR HOME VALUE
As a homeowner, you may renovate your home for a variety of reasons. Perhaps you want to solve a problem, improve functionality, or simply enhance its beauty.
But did you know that certain upgrades can actually increase the commercial value of your property?
In this post, we’ll share four upgrades that can generate a positive return on investment.
1- Kitchen Remodeling
The kitchen is often referred to as the heart of the home, making it a key area to upgrade. According to HGTV, kitchen renovations can generate between 60% – 120% return on investment. However, it’s important to maintain consistency with the overall aesthetic of your home.
According to many realtors, a house with an updated and well-equipped kitchen can often sell for a higher price than one without. Therefore, if selling the house is a potential consideration, it is important to ensure that the kitchen is in good condition and has modern amenities, as this can be a significant factor in attracting potential buyers and achieving the desired sale price.
2- Bathroom Additions
The two areas of the house with the most relevance according to the real estate market are the kitchen and the bathroom. Giving a modern look to this area of the house is of utmost importance. A modern bathroom renovation can yield up to 180% return on investment.
According to the National Association of Realtors, if you have only one bathroom, adding another could increase the selling price by up to 10%.
It is one of the most profitable upgrades that you could do at home, including cabinets, floors or walk-in showers.
3- Energy-Efficient Windows
Energy-efficient windows provide a dual benefit for homeowners. Firstly, they offer a long-term return on investment by reducing your annual energy cost by up to 12%. Secondly, they enhance the appeal of your property by setting it apart from other homes on the market, making it a more valuable and desirable asset for potential buyers.
4- Adding a Deck
Adding a deck to your home is a versatile renovation that can greatly enhance your property’s functionality and appeal.
A deck not only adds valuable square footage to your living space, but it also provides a versatile outdoor area for relaxation, entertainment, and family time. Adding a deck can significantly increase your home’s attractiveness to potential buyers in the future and can provide a return on investment of 80-90%, according to HGTV. Therefore, it’s a wise investment for any homeowner looking to maximize their property’s value and appeal.
So now you have it, these are the 4 upgrades that you should consider if you are looking to increase the commercial value of your home. Do not forget that for any renovation it is important to have a general contractor who can supply your needs in detail. If you are looking to do some renovations in your house, contact us and discover how we can help you.
In any renovation project, it’s important to work with a trusted general contractor. At Renovco, we specialize in home renovations and can provide the expertise you need to ensure a successful project. Contact us today to learn more, or get a quote right now!