Profit From Home Improvement!

Quality remodeling

Purchasing a home is one of the largest investments a person can make. When you own a home, you have the opportunity to not only make it a better place to live in for you and your family, but also to increase its market value should you decide to one day sell it. Home additions such as dormers and extensions, along with improvements to bathrooms and kitchens are smart ways to add value to your home.

Quality Home Improvement and Return on Investment (ROI)

It’s important to understand that any quality remodeling done to a home is an investment. Although it can be costly to attain such quality remodeling, you are essentially spending that money on your own future, since you will most likely see a return on said investment.

Return on investment is a simple way of determining how much money you make back on an initial investment. For instance, if you spend $1,000 on bathroom improvement and it ends up increasing your home’s worth by $2,000, your investment yielded a return of 100% ($1,000 of profit in this case). In general, the return on investment (ROI) for home improvement projects is relatively high. For example, a replacement steel door has a 98% ROI on average, and even minor kitchen remodeling has an average ROI of about 82%. Replacing a home’s siding also has an average return of about 82% on the initial investment over time.

Which Improvements Matter Most

Not all home improvements and additions are created equal. In other words, buyers tend to look for particular aspects of a home before making a decision. Therefore, those looking to one day sell their property should consider which parts of their home deserve quality remodeling and additions. Having this knowledge will help ensure the highest ROI on your home improvement projects.

For about 66% of buyers, it is important for a home to have a full or partial basement. Therefore, it’s wise for most homeowners to consider remodeling and improving their basement to appeal to this majority of potential buyers. More than half of buyers (53%) are also looking for a two-car garage. But perhaps the most important area of a home for prospective buyers is the kitchen.

A whopping 84% of home buyers consider it necessary for a kitchen to feature a double sink, a walk-in pantry, and table space for eating. While a buyer might be able to overlook a lack of one of these things, ensuring your kitchen has all of these features and more will significantly increase your home’s market value.

It’s also important to note that space matters. The more spacious your home, the more valuable it is. This is why most extensions are a good investment. Dormer additions, for example, add space to the interior of a room while also adding aesthetic value to a home’s exterior.

Home improvements may seem daunting at first, but when you keep in mind that they are worthwhile investments, they become more exciting than scary. Whether you want your home to provide you and your family with a more comfortable atmosphere, or you’re looking to add value to your property, remodeling and extending your home covers both!

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