Home owners remodel houses primarily to make it fit their family needs and person tastes. Unless the owner is flipping the house or has a reason to anticipate that it will soon be sold, increasing the market value of the house will be a secondary purpose. However, most people want to believe that remodeling is an investment in the building that will pay off financially at some point.
Some projects will add more value to a home than others.
Very little if any value is added to a home by remodeling if it is too specific to the current owner. Turning a bedroom into a darkroom will not be a plus unless the house is sold to a photographer who develops film at home. Dedicating too much space to a single item can lower the value. For example, installing an indoor swimming pool that takes the entire basement in a small house will make the property hard to sell and cost you money when it does sell. There are plenty of remodeling projects that are almost guaranteed winners at selling time.
Any type of bathroom remodeling is usually a safe bet to increase home value.
People like to buy house where the bathrooms have modern appliances and fixtures. Upgrading the vanity, commode, bathtub, and shower are good ways to add value above their cost. Improvements in the flooring and wall coverings should be considered to round out the effect. Enlarging most bathrooms by even a little is generally worthwhile and can be huge financial dividends at selling time.
The kitchen should be a high priority when making renovations.
Of course, the kitchen can easily be the most expensive room in the house to remodel. Even low cost cabinets are hardly cheap. An upgraded sink and faucet combination may soar above $1,000. Installing an island, stone floors, and granite counter tops will help assure you of not only a better selling price, but a quicker sale. Adding plenty of light and lighting accents can only enhance any improvements in the kitchen.
Outside remodeling projects that increase curb appeal will always give a nice return on investment.
Besides new landscaping, there are other outside improvements that add to curb appeal. These projects may also improve living conditions inside the residence. A good place to start exterior improvements is adding replacement windows and doors. Upgrading the front door can enhance how the home will first be viewed. If your home has aging windows, the new units will stand out immediately. The addition of new siding should not only dress up the exterior of the house, but along with the doors and windows, should lower utility bills. The home should have better soundproofing because of these modifications.
Finishing off additional space in the basement will add value in the form of extra living space.
Basement family space can be viewed as a premium by potential buyers. The same is true for bedrooms and another bathroom. If it is well done with good lighting, it should seem more like a lower level than a basement. People like feeling like they are getting two for the price of one. A finished basement can seem like a second apartment or house if it is properly completed.