Whether you are planning to put your home on the market or want to improve your living space, home renovations can enhance the look and value of your property.
From minor upgrades to complete remodels, the right renovations can breathe new life into your home while providing a solid return on investment.
Many homeowners find themselves in a situation where they have outgrown their house, but leaving their beloved home and community is not an option. Expanding your home with additions can be an excellent solution if you need extra space.
Home additions improve your space’s comfort and functionality and can positively impact your property’s resale value. For every bedroom added, you can expect the home value to increase between $30,000 and $50,000.
Adding a bathroom can also increase the resale value of your home. In the West South Central U.S., bathroom additions can offer an ROI of 26.6% for an upscale or 30.2% for a mid-range bathroom.
Home additions are often cheaper than moving, providing you with extra space until you are in the position to sell. Bonus spaces, such as mudrooms or closets, offer organizational areas, while new additions like a home office can appeal to potential buyers who work from home.
Curb appeal is people’s first impression of a property before entering. The exterior of your home can determine whether buyers want to look inside. You can boost your home’s curb appeal with exterior renovations like brick, siding, or paint, or replace your windows or front door.
For example, putting new vinyl siding on your home can increase your home value by around $15,592 in the West South Central region of the U.S., with about a 98.3% return on investment for 1,250 square feet.
A stone veneer can add around $10,649 to your home value, a 102.2% ROI. Stone veneer can also update the look of your property to attract buyers.
If you plan to sell within the next decade, consider replacing your roof to add value to the home. For instance, replace asphalt shingles every 15 to 30 years or sooner if your home has been through recent damage. Replacing the roof a few years before selling can entice buyers because they won’t have to worry about roof replacement shortly after they buy.
A roof renovation can yield between 58.6% and 50.3% ROI, depending on whether you use asphalt or metal. Asphalt shingle replacement can add $15,800 to your home value, while metal adds $22,074.
For many homeowners, the kitchen is the heart of their home, and an outdated kitchen can have a negative impact on the appraised value of a property. A poor layout or limited space can also restrict the kitchen’s functionality, limiting its potential for homeowners.
A kitchen renovation can boost your home’s value, both in resale value and personal enjoyment with your family and guests. Adding cabinets, new appliances, flooring, and countertops can make the space more inviting and functional. For example, a kitchen island can provide extra food preparation space, while new cabinetry offers convenient storage.
Depending on the scale of your renovation, you can see an ROI of between 28.3% to 80.1%. For example, a minor kitchen remodel adds about $21,096 to your home’s value, while a significant upscale remodel can yield around $42,853.
A bathroom renovation can help you achieve a beautiful, functional bathroom and add to your home’s market value. Ideal value-add renovations may include upgrading fixtures, installing energy-efficient features, adding storage space, updating the flooring, and new countertops.
For example, you can install granite counters and brushed nickel fixtures for a luxury aesthetic. You can also opt for an industrial look with stainless steel fixtures and sealed concrete flooring.
A universal design bathroom remodel can help you increase your home’s value by around $16,110. An upscale bathroom remodel can add about $26,693 to your home’s resale value, with a 34.6% ROI. A smaller midrange remodel can give you around 68.0% ROI and add $16.084 in resale value.
Increase Your Home’s Worth With Value-Add Renovations
Home renovations offer the opportunity to increase the value of your property and create a more appealing living space. Whether you’re looking to sell your home or build your dream environment, investing in renovations is a wise choice to enhance your property’s financial and visual aspects.
At Big State Construction, we understand the importance of quality craftsmanship and attention to detail when renovating a home. Our team is ready to guide you through the renovation process, from design to remodel completion.
Contact us today to get started on transforming your space and adding lasting value to your home.