Homeowners who want to increase their property value should consider doing renovations. These improvements can improve energy efficiency, add square footage, or upgrade finishes. In addition, they can improve the curb appeal of their home. The most common home renovations are kitchen and bathroom remodeling and energy efficiency upgrades.
Renovations that increase the resale value:
One of the best ways to increase the resale value of your home is to make renovations. New paint and updated fixtures are great ways to make your home look more modern without breaking the bank. However, before beginning any home improvement project, you should carefully evaluate your home’s resale potential. A few important decisions to consider include whether or not you want to add a fish tank to your home, which will help kids breathe easier.
Making your home more energy efficient:
Energy efficiency improvements increase your home’s value in various ways, from reduced utility costs to better temperature control to more energy-efficient appliances. These improvements also improve the durability of your home, which means less maintenance. In a recent study, homes with energy-efficient features received higher bids on the open market.
Upgrade outdated lighting fixtures:
Another effective way to improve the value of your home is by upgrading outdated lighting fixtures to energy-efficient models. Changing to LED and CFL bulbs can save up to a third of your home’s electricity bill. Increasing the use of natural light also reduces your reliance on electricity. Installing skylights and larger windows can improve the aesthetic value of your home while adding to its energy efficiency.
Adding square footage:
If you’re considering selling your home, gaining additional square footage can greatly increase its value. This can be done in many ways. Adding a bedroom or family room, widening doorways, and adding a great room can all add square footage. Converting garages and basements into rooms can also add value to your home.
Adding solar panels:
Adding solar panels to your home is a great way to save money on energy costs and increase the value of your home. However, installing solar panels can also come with several disadvantages. These include an eyesore and a high maintenance cost. For this reason, some people do not opt for solar panels. In addition, some people might not be able to secure a mortgage after adding solar panels to their property.