When it comes to adding value to your home, you can make a big impact with a remodel. However, it’s important to evaluate your motives, budget and value payoff before making any major changes.
Remodeling is more extensive than renovating, including structural changes such as relocating walls or altering floor plans. It typically requires architectural design, permitting and construction.
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1. Update the Kitchen
The kitchen is one of the most popular areas homebuyers look at when searching for a new house. Remodeling this area can increase your homes value by 6% or more, depending on how much you spend and how well the project is done.
Start by defining your goals. Will you be updating fixtures or doing a complete kitchen “gut”? Keeping your goals in mind will help you determine a budget and timeline for the project.
Visit kitchen showrooms and renovation stores to take note of layouts, designs, appliances, fixtures, and building materials. This research will help you create a list of items that fit within your budget and what’s popular in your neighborhood.
2. Add a Deck
Homeowners who are looking to boost their home’s value should consider building a deck. According to HouseLogic, homeowners in certain areas can increase their home’s value by up to 7% with the addition of a deck.
This is because decks are popular with prospective buyers who want to entertain outdoors and enjoy the natural landscape of their property. Before beginning this project, consult with a real estate agent to find out if this investment will make sense for your particular situation.
Remember that wood decks generally offer the highest return on investment compared to other projects like window replacements or kitchen and bathroom upgrades.
3. Add a Master Suite
A master suite adds a lot of value to your home. Many potential buyers prioritize a master suite addition, especially when it includes an attached bathroom.
A typical master suite includes a bedroom large enough to fit a king bed and other furniture, a bathroom with a tub, shower, two sinks and a toilet; and a master closet.
Other amenities you can include are a sitting area or bar area, French doors and other architectural features that give your space added appeal.
To keep costs down, consider a ground-level master suite that is built over an existing porch, garage or other room without adding a foundation, exterior walls and roof. You can also save money by converting unfinished basement or attic space into your primary suite.
4. Add a Garage
A garage is a valuable home addition for many reasons. It provides a space to park vehicles, protects them from the elements, and can be used as storage for items that would otherwise clutter up your home’s interior.
If you’re unable to add on to your house and are looking for a way to increase your living space, consider adding a second story above your garage. This can be a great option for Detroit homeowners who need additional family room or extra bedroom space.
Just make sure that any improvements you do to your garage don’t detract from its utility. Atlanta realtor Erika Lewis warns that converting your garage into something other than a parking space can hurt your home’s value when you eventually decide to sell.
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5. Add Outdoor Space
A beautifully designed outdoor living space is a luxury that invites you to relax, unwind, and reconnect with nature. It also increases the size and value of your home and adds a new dimension to your daily life.
An outdoor living space also improves your backyard’s livability throughout the year by enabling you to take advantage of beautiful weather and warm, sunny afternoons. It’s perfect for entertaining guests or just enjoying the company of family and friends.
An outdoor living space may be attached to your home, such as a deck or porch, or it can be separate, like a shed or cottage house. In either case, these spaces can be a big draw for potential buyers when you’re ready to sell your home.
