Looking to remodel and increase the property value of your home? Don’t make any impulse moves just yet. While you may be really into some funky wallpaper or a colorful backsplash, there are some things to consider prior to renovating. Certain areas in the home significantly enhance property value, while other design choices are not for the masses.
Remodeling for safety, convenience, and geographical location tends to be more of a value add than choosing renovation ideas solely based on design updates. Something additional to note, time’s effect on an upgrade or improvement will also dictate the amount of increase regarding property value.
COMMON IMPROVEMENTS OR ADD-ONS WITH TYPICALLY HIGH VALUE ADD:
- New roof
- New windows
- Add wood deck
- Remodel attic
- Finish basement
- Add garage
- Replace siding
That being said, there are two rooms in the home that consistently show a positive impact on the resale value and overall increase property value.
Which Room Should I Remodel?
Generally, kitchen and bathroom remodels show the greatest return on investment despite which state you live in and despite your neighborhood. People spend a lot of their time in the kitchen and bathroom – getting ready, getting kids ready, making meals, eating meals, cleaning, entertaining, etc.
When choosing to do a kitchen remodel, favor:
- Hardwoods or stone floors
- Simple, clean cabinets (wood)
- Stone countertops (ie: granite, quartz)
- Neutral color scheme
When choosing to do a bathroom remodel, favor:
- Walk-in shower
- Double vanity (in master bath)
- Neutral color scheme
**If you only have one bathroom in your home, consider adding a second or half bath. This is a much greater value add!
At the end of the day, if you are in your forever home, you have the right to decorate or design however you please. If you are building a custom home, your taste and style should shine. Having the home of your dreams to make memories in with your family can easily outshine worrying about resale value. So design with your end goal in mind.
If leaving the option of selling on the table, keep the above in mind when renovating any portion of your home – outside or in. While your children may encourage you to put an in-ground pull in the backyard (who wouldn’t love that?!), most home buyers are more focused on if the roof leaks or the kitchen is in good shape.
A good home renovation can change the whole face and value of your house. With a good contractor, some diligent planning, and great work – you too can turn a mediocre home into something you’re proud to call home!
Home magazines and platforms like Pinterest make it easy to find inspiration for home renovations and when remodeling. In fact, they make DIY and remodeling look easy! While looking at these photos may spark great ideas for projects in your own home, there are many things to consider.
Before you start buying specialty tools and busting through drywall, ask yourself and a professional:
- Will the remodel be inside or outside the home?
- Do you want a full room or partial room renovation?
- Will electrical, plumbing, or HVAC be involved in the remodel?
- Does any part of the room need to be fully demoed?
- How much can you afford and plan to budget?
1. Don’t Rush
It takes time, and sometimes more time than you think, to get a plan into place for a remodel. You may find yourself changing your mind often and constantly readjusting designs. Working with a professional to achieve your vision will help to solidify plans. But make note: sticking to the plan (unless adjustments are necessary for functionality/codes/construction) and not changing direction during build out will keep you from wasting hours and money. It’s okay to take your time on the front end to allow for a successful remodel job you will love.
2. Choosing the Wrong Contractor
We know this is all too true, thus we will sing it from the roof tops. Choosing a licensed contractor may be one of the most important pieces in a remodel plan. If you choose someone that doesn’t share your vision, isn’t reputable, or lacks skill, you should see warning signs! Don’t settle for the wrong contractor just because they are the cheaper option, it’s your neighbor’s “handy” kid, or because you decided on the first person in your google search. Take some time to vet a licensed contractor and feel confident in your choice.
Well, if your neighbor’s kid is a well-reviewed licensed contractor, then maybe choose them.
3. Failing to Budget (If at All)
Under budgeting is one of the most seen mistakes during a remodel. Picture it: You demo your shower, clean up the mess, get half the tile in place, and then realize you improperly measured and are now overbudget… what do you do? This is all too common. Doing some pre-plan research to see what is most affordable for you and the job can make all the difference. With the assistance of a professional, you can know general costs upfront and budget accordingly.
Not to mention, depending on the project and age of your home, sometimes unexpected costs come up. Asbestos in your popcorn ceilings, old plumbing, or even previous construction not being to code – oh my! Whatever it may be, it doesn’t hurt to budget with a bit of cushion for any surprise costs.
4. Not Choosing Quality
This one easily ties into Failing to Budget (If at All). Too often we are looking for the easy fix or quick solution. When it comes to construction, choosing quality is nothing short of necessary to meet expectations and ensure a great outcome. The design you choose, contractor you hire, and supplies being used should all reflect how you want your finished project to turn out and stand the test of time. While this doesn’t mean breaking the bank, quality work and products make a great difference.
That being said, there are areas to save rather than splurge. Many people are thrifty and save on materials and labor. Speak with your contractor and/or designer for assistance on this.
On the same page…
Working with a professional contractor and builder should help you to avoid these costly and inconvenient pitfalls. With these tips, consultations with professionals, and a good plan in place, you too can have a beautiful remodel! Interested in chatting? Give us a call or shoot as an email using our contact form.