When it comes to getting the best return on investment — considering factors like market trends and long-term value — there are certain home renovation projects that really matter. We’ve put together a list of renovations that are most likely to enhance your property’s resale value.
1. Kitchen Remodel
Upgrading kitchen cabinets and countertops, refreshing walls, adding trendy backsplashes, and installing an island and a bigger sink are all upgrades that add value and interest to your home. Professional real estate experts say that 52%-75% of the cost of a kitchen remodel can be recouped when you sell your home.
2. Bath Remodel
Updated bathrooms are highly attractive to buyers, representing a cost recovery of up to 57% upon selling. Consider high value upgrades like Jacuzzi tubs, rain shower heads, updated built-in cabinetry, ambient lighting and similar, spa-like enhancements.
3. Refresh Home Exterior
Upgrades, refreshments and additions to your home’s exterior can boost its sales price. New siding, in particular, can transform an older home into one that looks brand new. Have worn soffits and facia removed or replaced, and consider having gutters installed around the perimeter.
4. New Roof
The roof covers a great expanse of your home’s exterior. Have a new roof installed not only protects your investment in your home, but adds significant curb appeal for prospective buyers. Learn about the signs you need a new roof to determine whether it’s time for a replacement.
5. Enhance Outdoor Living Space
Tap into the added value of an enhanced outdoor living space. Consider adding an outdoor kitchen, complete with a built-in grill, refrigerator and food prep area. A smokeless fire pit with comfortable seating can make your home feel more spacious, even though it doesn’t technically add to the official square footage of the property.
6. Room Addition
The cost of a new bedroom addition can be recovered up to about 56%, while the cost recovery for a new bathroom addition is about 63%, say real estate professionals. Be sure to consult with your local roofing company when considering a room addition, since this often impacts the roofline.
New wood flooring offers a cost recovery of up to 118%, according to experts. When replacing flooring, consider adding ambient floor heating, controlled by a wall unit. This is a small luxury that adds comfort and value to bathroom and kitchens, in particular.
8. Smart Home Technology
The integration of smart home technology such as smart locks, ring cameras, water leak detectors and smart thermostats add value to your home for both you and potential buyers.
Before making any of these changes, get in touch with a quality home improvement contractor. Contact Adams & Coe for any renovation services and ideas in South Carolina.