Many home upgrades are done for the sole pleasure and enjoyment of the homeowner. Redoing a kitchen may offer a long-awaited dream cooking space for the chef of the home. Or, updating a master bath can offer the aesthetic pleasures of a new design and feel, as well as a space for comfort and relaxation. In addition to adding enjoyment to the home, upgrades may also increase the home’s value. Here are five home upgrades that can add value before you sell your home.
The appearance of the bathroom is often a major selling point. According to Rochester Real Estate, the #1 item that millennial home buyers look for when buying a home is an updated bathroom.
Due to the inherent nature of the bathroom, it is one of the first rooms in the home to appear outdated or out-of-place. The hot water, moisture, and excessive use of the room can present color fading, stained tiles, rot and other turn-offs for buyers.
That’s why renovating even the smallest room in the home is crucial. Bathroom remodel ideas can be anything from refurbishing bathroom tiles to replacing tubs or showers, to painting walls or refacing vanities.
Depending on the scale of the bathroom remodel, the average return on investment is between 54% – 60%.
A kitchen remodel is a coveted project. Adding the newest appliances and the latest technology is a meal-preppers dream. As the gathering space of the home, a kitchen remodel is popular because of its “show-off “nature. Guests may never see your personal bathroom, but they will always see the kitchen. Why not create a space that is breath-taking and one that adds resale value to the home?
The price of a kitchen remodel can vary depending on the magnitude of the project. Whether you are upgrading the countertops or changing the cabinets, a kitchen remodel can change the entire look and feel to one of the most important rooms in the home.
According to the website Remodeling HW, the average return on investment for a kitchen remodel is between 53% and 75% of its cost.
Outdoor Rental Addition
A recent trend in construction and home upgrades has been incorporating outdoor rental spaces to the home. As many people are looking for hospitality accommodations with secluded and personal options, they have turned to rental programs such as Airbnb and VRBO.
According to STR and AirDNA, short-term rentals have outperformed hotels in the past year, presumably from fear of COVID-19. With over 7 million listings in 220 different countries, Airbnb reinvented what it means to vacation.
As homeowners, we should always stay up-to-date with current and future trends in order to best gauge future home values. If it is within your means, HOA rules and local zoning laws and ordinances, it may be profitable to add an outdoor rental addition to your home. Profitable additions could be outdoor casitas, tiny homes or little vacation rentals to your property, especially in highly traveled states, such as southern states.
Known as a “ADU,” or accessory dwelling unit, this upgrade can boost home resale value depending on the location, size of the ADU, and rental agreements.
Deck / Patio / Porch Addition
When it comes to adding value to your home, it pays off to think outside the box. Creating a unique outdoor living space might just set your property apart from the neighbors. Creating a space that is functional, elegant, and overall eye-catching might just be the selling factor of the home. After all, the first impression of your home is often the front porch.
By updating or building a new deck or porch, your home will have the “it factor” that so many buyers are looking for. Something as little as refurbishing a lanai or a walkway will also give a buyer a memory point, one they may recall, such as “the home with the relaxing front porch, or adorable landscape walkway.”
Depending on the materials used in the addition, such as wood or composite, the average ROI is about 65%.
Whole House Remodel
If you are interested in increasing home value, but want to stay put, you might be interested in a whole house remodel. A whole house remodel often suggests the common phrase, “love it or list it.”
A full house remodel may be exactly what your place needs. Upgrading it to today’s standards, designs and safety features will surely increase the home’s value. Anything from creating open concept living areas, redoing the flooring, or even adding extra levels can make the home feasible for a growing family.
If you are interested in a whole home remodel, or any home upgrade, trust the professionals at Varian Construction. With over 30 years of experience and over 15 Florida Home Builders Association awards, there is no question that Varian Construction is the right contractor for your project.
Specializing in everything from commercial projects to condo remodels, Varian Construction is the best construction company for your specific home upgrade. Fully licensed to work in Florida, Varian Construction can successfully complete all your renovation and remodel needs.
Adding value to your home begins with a call, so contact Varian Construction today at 239.514.0103 or visit our website.