4 Home Improvements That Will Add Value to Your Property.
As a homeowner who is interested in holding his/her house for several years, then it is necessary for you to consider home improvement.
Indeed, over time, your personal needs, cultural design trends, and your family structure evolve.
Your home also deteriorates with time if renovations are not constantly made. In light of this, here are four improvements that will add value to your property.
1. DECK ADDITION
If you want to instantly improve the appeal and functionality of your home, be prepared to spend around $10,048 to have a wooden deck added.
This is a functional home addition because you can use it for your family and guests. In addition, it can add to the appeal of your home which explains why it can improve your home’s resale value by an average of $8,085.
2. ATTIC CONVERSION
Your attic has tons of potential. You may not know it yet because for you, it’s just a place to store your junk. By spending $51,696, you can actually convert it into a bedroom.
This solves the problem of lack of rooms if you have a growing family. With this, you don’t have to move to a new home anymore. It’s a significant amount of investment, yes, but it increases your home’s value by almost $40,000.
3. BASEMENT REMODELING
When it comes to basements, most homeowners have this “out of sight, out of mind” approach. Just like the attic, your basement has a lot of potential.
You can spend $65,442 to remodel your basement and you’ll have a better-looking basement that you can actually use on a day to day basis. Just like with the attic conversion, it’s a significant investment but it raises your home’s resale value by $47,639.
4. BATHROOM REMODELING OR ADDITION
Your bathroom is one of the most used rooms in your home so it just makes sense to remodel it when needed. Bathroom remodeling costs $16,724 on average but raises the resale value of homes by $11,707.
If you feel that the number of bathrooms isn’t enough, you can always add a new one. Prepare to invest almost $40,000 for a bathroom addition but it adds $22,875 to your home’s resale value.
These are just some of the home additions that can benefit you now. They immediately increase your home’s resale value, and that appreciation increases enough over time for you to recoup your initial investment.
That’s all on the 4 Home Improvements That Will Add Value to Your Property.
This article was written by Meinna Gwet. Her specialty is in enterprise risk management for banks and insurance companies.