Remodeling projects that can boost your home's value
Atlanta’s own Home Depot says: "You can do it, and we can help!" And, of course, they are talking about that home remodeling project that you’ve been thinking about.
But which home remodeling projects really make your home more valuable?
FOX 5 real estate expert John Adams, who is famous for adding value to little houses, has some suggestions.
Adams says we currently have a low supply of homes for sale because the existing owners who have loans on their properties are locked into low mortgages and don't want to sell.
Instead of putting the home on the market, many people are looking at home remodeling projects as an incentive to stay.
Adams has a list of six home remodeling projects that can boost your home’s value:
1. Curb Appeal: You only get one chance at a first impression. If the buyer is turned off from the street, they probably won’t even take a look inside. A fresh front door and an updated garage door can catch the eye. They’re like the "welcome mat" for potential buyers. Updated vinyl siding and window replacements improve aesthetics and energy efficiency. Buyers appreciate well-maintained exteriors.
2. Deck Addition: In the South, decks are a prized amenity that help all of us enjoy the outdoors. Make yours a draw instead of a drawback. Decks provide a cozy spot for outdoor gatherings, barbecues, and relaxation and, compared to indoor additions, decks are budget-friendly.
3. Kitchen Remodel: An updated kitchen doesn't need to cost a king’s ransom. Consider a three-step approach to the process by implementing partial upgrades as much as you can. You don’t need a full kitchen overhaul. Consider refreshing cabinet doors and drawer fronts, buying new appliances, and upgrading your countertops and flooring.
4. Bathroom Remodel: No matter what else, your bath must look spotless and smell overwhelmingly clean. Buyers want bathrooms that feel current, with updated vanities that have large mirrors, neutral walls, new sinks, faucets, and lighting.
5. Reinventing Existing Rooms: Turn your attic into a master or guest bedroom. For the basement, build an in-law suite or create a playroom, home theater, or exercise space. More usable square footage adds value.
6. Paint and Wallpaper Update: Removing dated wallpaper instantly freshens up a room. For paint, opt for a trendy yet universally appealing shade. It's a simple, affordable boost that can help buyers envision themselves living there.
Remember, these upgrades not only enhance your home but also make it more appealing to potential buyers.
Adams's bottom line is: Don't give up. By doing the work yourself, you can avoid contractor fees, which can be a significant chunk of the project cost. You'll only pay for the materials and any tools you might need.
Big box stores will actually train you on how to perform some of these remodeling projects yourself, and it can add value to your home as you learn new skills.
