There are dozens of TV shows that show you how easy it is to renovate your home and turn it into something that belongs in a magazine. However renovating your home isn’t that easy not all renovations will add value to your home. Let’s take a look at what renovations provide the most bang for your buck and will increase the resale value of your home when the time comes.
Adding More Living Space
One of the best returns on your investments is to add more living space to your home. You can do that in a couple of ways such as finishing off the basement, putting on an addition or adding a separate apartment, usually in the basement. A small apartment, complete with a bathroom and kitchen can add rental income helping you to pay down your mortgage. This also makes your home appealing to a potential buyer if you look at selling down the road. Check with your local municipality about zoning and permits before adding an apartment.
Replacing or Repairing the Roof
If you have a faulty roof you are putting your investment at risk. The roof protects the home from water damage. It ensures that snow, rain, sunlight, wind and extreme temperatures do not damage the interior of the house. By ensuring that the roof is in good shape it will keep the elements outside where they belong. If you see any damage on the roof such as shingles getting loose or blowing off, contact a quality roofing contractor immediately.
Kitchens and Bathrooms
Kitchens and bathrooms sell houses, just ask any realtor. They are also the most expensive renovation projects that you can undertake so proceed with caution. Renovations can include everything from completely gutting the kitchen or bath or something as simple as adding a fresh coat of paint. When it comes to the kitchen adding islands or breakfast bars offer great returns. In the bathroom a new vanity or installing a tub surround may be all you need to give the room a makeover.
Ripping out ugly, stained old carpets and installing some rich hardwood floors can add sophistication to your home. There are tons of option available ranging from fairly inexpensive to very high end. To get the best value for your money look for a combination of durability, easy maintenance and of course something that looks good.
Changing the Fixtures
This is a quick and relatively inexpensive way to update your home. You can start by changing easy things like light fixtures, hardware on the cabinets, faucets, switch plates or even the toilet. Most of these projects you can do yourself and will cost you less than $100 dollars. You don’t necessarily need a contractor and it can make your home look fresh and polished.
Get a New Door
Your door is the first thing that anyone sees when they come to your home. A new door is fairly inexpensive and provides a great return on your investment. If you are planning on selling your home then a solid steel door can make a potential home owner feel safe.
These are some of the most common renovations that will help you get the best return for your renovation dollars. If you are selling your home or just want a fresh new look then this is where you start.