It is true that most home additions and renovations will not have a good return on investment. Some of the renovations and repairs you do will end up costing money that you might never get back. That said, there are some renovation and addition options you can explore to ensure you get a very high return on your investment, especially if you want to sell the house.
Wooden Deck Addition
This is not strictly a renovation but an addition to the backyard or some other space you might have. New home buyers are always looking for a home with enough space to entertain or to relax. A wooden deck can increase the value of your home and might end up netting you much more than you spent on it.
No one wants to buy a home and then replace the roof a few months down the line. People would rather the roof is already in great shape when they purchase a home. Adding a new roof is not only a good way of enhancing the look of the home and increasing its appeal, but it is also a good way of increasing the house’s value when you declare the house has a new roof on a listing.
In some cases, you might not want to replace the whole roof because it might be too expensive or the roof might not be that old. In these cases, get a roof and gutter repair company like Wildwood to do the necessary repairs. This way, your roof still looks its best and you save some money while increasing the appeal and value of your property.
Everybody agrees that a kitchen remodel can increase the value of your home. What most people do not know, however, is that home remodels have a very high return on investment – usually over 80%.
Kitchen renovations are very versatile as you can decide what to do, what to add, and how deep you want to go into the repairs. The only caveat here is that you have to be very careful because it is very easy for the cost of a kitchen remodel to get out of control.
Although it might seem like a cliché, a lot of people still gauge the value of the home from how well a bathroom is maintained. This means that if you do a bathroom remodel that increases the value of your home, you are likely to recoup most of what you invested in the bathroom.
You can also incorporate universal bathroom designs. These are additions that make the bathroom accessible to people who might have a problem getting into and out of the shower or bathtub. Railings, wheelchair support, and walk-in showers make your home accessible and much more desirable which means you will recoup most of the money spent adding these features.
Home renovations and additions can be expensive, so it is very important that you only consider additions and renovations that will increase the house’s value. This way, you can get back up to 97% of what you spend on the additions and renovations.