4 Renovation Projects To Add Value to Your Home
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The pandemic has drastically changed the way we perceive our homes. They are no longer just the place where to kick back at the end of a day at work or on your days off. They are also a safe shield against what’s going on in the world. And, in the past months, they have also taken on the role of offices, gyms, spas, parks, and theatres.
With so much going on, it isn’t surprising that the number of major home renovation projects increased by 25% in 2021 compared to previous years.
So, if you are thinking of investing in a home improvement project you are certainly not the only one! However, not every home renovation project offers the same benefits. For example, renovating your bathroom can increase your home’s comfort level.
But if you need to add value to your property, you should focus on those investments that yield an 85% or higher Return on Investment (ROI) – such as these ones!
Enhance Your Home’s Curb Appeal
Whether you are selling your property or creating a home you can be proud of, everything starts from its curb appeal. If you are looking to improve your home’s aesthetics, you should consider projects such as:
- Improving the roof
- Replacing the sidings
- Painting the facade
- Renovating the driveway
- Painting the front door
- Landscaping the garden
And, there are many minor DIY home exterior renovation tasks that you can complete by yourself and on a budget!
Consider Investing in a Kitchen Remodel
According to Home Advisor statistics, a kitchen remodel can cost between $13,486 and $38,094, while homeowners spend an average of $25,656.
The high cost of a kitchen remodel positions this project among the top-3 most expensive renovations you could face. However, the kitchen is truly the heart of the house, and buyers will look for new cabinetry, energy-efficient appliances, and optimised storage spaces.
Extend the Living Space With a Patio or Porch
Over the past two years, we have all spent an unprecedented amount of time indoors. This has caused homeowners to reconsider their priorities, especially in terms of their home design and facilities. If you are looking to increase the overall value of your property, you might consider adding extra square footage and creating additional living spaces.
If you have a garden or yard, creating a porch or patio is the easiest solution, but you might also consider adding a separate building or a conservatory.
Convert a Room Into a Home Office or Gym
If you have a spare room in your home, you might consider converting it into a gym or home office. In the past months, a great percentage of professionals transitioned to remote working. And, the market share of at-home fitness tools and facilities continues to grow.
Nonetheless, if you are unsure about what space to add to your property to make it more appealing, consider speaking with an expert real estate agent. Thanks to their network and knowledge of buyers’ trends and needs, real estate agents can help you decide on what renovation you should invest in this year.