If you’re thinking about renovating your home in the near future, consider upgrading not only in terms of comfort or practicality, but carefully think of changes that will increase the value of your property.
Real estate experts agree that to make your home prettier is akin to making a good investment. However, be sure that the changes you will be introducing are adjustments that you and your family will also enjoy or revel in.
The most common rooms to remodel, arranged according to the value it adds to the property, are the following: living room, kitchen, master bedroom, and dining room. Remodeling the parts found outside the home is also a good way to increase property value.
Aside from aesthetics, adding more space increases value, as well — a few square feet can make a big difference in property prices. Some people tear down walls to open up the space or add a small bathroom or two. When you think about the spaces to add, consider your needs and comfort, first and foremost.
To build value, it also helps to improve energy efficiency, which could simply mean adding doors and windows to let the air, sunshine and natural light in. You can save on your monthly energy bills, and increase the value of your property at the same time. An energy upgrade would also include installing solar panels, getting energy-efficient appliances, and going for energy-saving light fixtures.Â
Perhaps this next item doesn’t need saying, but you’d be surprised how many homeowners actually skip repairs. Yes, fix what’s broken and increase your home’s value — it’s simple and logical. If the roof is leaking, change it or fix it. If there is a problem with plumbing or leaks, do something about it. Noisy and drippy air conditioners and old heating systems have to be replaced.
Finally, a word on smart homes, which are all the rage these days. If you are into the technology, consider adding high-tech features and gadgets to your home during renovation. Examples would be smart security cameras, intelligent lighting systems, smart locks and fire detectors, and so on. These features can add ease and efficiency to your daily lives, while increasing your home’s value at the same time.
One last advice from the experts: do not borrow money for home repairs and renovations. It is always better to make extra first, or to save for it, before diving into the project.