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woman working on home renovation project

 

Most homeowners don't purchase a home with the idea of selling it quickly in a few years. A home is the culmination of years worth of dreams, hard work, and saving as much as possible. It is also an investment, that most homeowners realize, that if managed correctly, can yield substantial returns a few years down the line.

For those looking to add value to their home before putting it on the market, there are a few key home additions and renovations that will help increase the resale value of your home.

 

Home Renovations Worth Investing In

 

1. A Kitchen Remodel

One of the most important rooms in any home is the kitchen. It is where families gather to cook, eat, and socialize. It is also one of the rooms that potential homebuyers will judge your home on. A well-designed and updated kitchen will go a long way in increasing the resale value of your home.

 

2. Adding a Bathroom

If your home only has one bathroom, adding an additional bathroom can be a game-changer when it comes to increasing the value of your home. Not only will it make your home more attractive to potential buyers, but it will also be more functional for your family.

 

3. Finishing a Basement

A basement is a great way to add extra living space to your home without having to build an addition. Finishing a basement can be a relatively inexpensive way to add value to your home and make it more attractive to potential buyers.

 

4. Adding a Deck or Patio

If your home doesn't have an outdoor living space, adding a deck or patio can be a great way to add value. Not only will it give you additional space to enjoy the outdoors, but it will also make your home more attractive to potential buyers.

 

5. Renovating a Bathroom

If your bathroom is outdated or in need of repair, renovating it can be a great way to add value to your home. A well-designed and updated bathroom will not only be more attractive to potential buyers, but it will also be more functional for your family.

What Increase in Sale Value Can You Expect?

Assuming you invest in one or all of the projects mentioned above, the increase in your home's resale value can vary greatly. It will depend on factors such as the current state of your home, the quality of the renovation, the location of your home, and the current market conditions. However, if you do your research and invest in a quality renovation, you can expect to see a significant return on your investment.

Home Renovation Projects to Avoid

With the positives covered, let's quickly look at home renovation projects that don't really add any value to your home.

 

1. Swimming Pools

While a swimming pool may be a great addition to your home, it is not a good investment when it comes to increasing the resale value of your home. Many potential homebuyers see swimming pools as a liability rather than an asset. The reason for this is that swimming pools are expensive to maintain and given the recent fluctuations in energy prices and economic flucuations, it's an investment that is better off being put on hold. 

 

2. Home Offices

While a home office may be a great addition for you and your family, it is not a good investment when it comes to increasing the resale value of your home. The reason for this is that a home office is not attractive to potential homebuyers. Homebuyers are looking for living space, not office space. Although, given the recent spurt in work-from-home scenarios in companies around the country, this might be changing.

 

3. Custom Features

While custom features may be great for you and your family, they are not a good investment when it comes to increasing the resale value of your home. The reason for this is that custom features are often specific to the taste of the homeowner and may not be attractive to potential homebuyers.

In conclusion, if you are looking to increase the resale value of your home, there are a few home additions and renovations that are worth investing in, while there are plenty that are not. It's best to consult a real estate agent or a company specialized in house construction and renovation projects before starting and investing in anything, or b