When you are considering your next renovation or home improvement project, one key factor in your decision should be what the project will add to the market value of your home. Irrespective of whether you plan to sell your home in the next few years, a selection of smart home improvements will keep your home looking stylish and current.
Here are some key areas to consider in your next home renovation plans to maximize the value of your investments.
Convert a spare room into a home office
Since the onset of the Covid-19 pandemic, enormous amounts of workers from across the world discovered the benefits of working from home. For many it was the first time they had experienced such a model of working.
Now, because of this pandemic, many workers are seeking out careers that allow them to work remotely or at least offer a hybrid model of working, with days spent working from home and days in the office. A home that features a fully functional and modern home office working space will appeal to buyers now more than ever.
If you have a spare room that is simply becoming a storage area, consider converting it to a home office. A home office has the potential to typically add $10,000 to the value of an average home.
Modernize your kitchen
Very few rooms deter potential buyers from considering purchasing your home more than an out-of-date kitchen. Ill-fitting cabinets and aging work surfaces paint a story of general disrepair in the minds of potential buyers.
Conversely a modern, stylish and well-equipped kitchen can be a true asset in the overall value of your home and its perceived worth by real estate agents. One design feature that most modern kitchens have is hard wearing stone work surfaces such as granite kitchen worktops Bury. These upgraded surfaces give both the functionality of a hard-wearing kitchen material that will look great for years to come and a stylish and modern feel to any kitchen. Consider also renovating your kitchen to include an island feature. This is a modern design staple of most well thought out kitchens and can also unlock more room in a kitchen area if the space is small. A breakfast bar setup negates the need for a conventional table and chairs layout, giving the impression of a more spacious area.
Upgrade your basement
If your basement is a storage space rather than a functioning room, you are missing improving the overall value of your home. A fully finished and heated basement can represent a 75% return on investment and you are effectively changing an overlooked area of your home into another living space. Whether it is eventually used as an entertainment room or even the place for a home gym, the potential of your basement to increase the overall value of your home cannot be underestimated.
The bonus is that well thought out renovations will improve the market value of your home if you do decide to relocate in the future.