The recent economic slump may have changed how most people spend their money, but it did not stop them from renovating their homes. A lot of homeowners remodel their homes in order to feel more comfortable in their abode or to increase the value of their properties. This makes investing on a home remodeling project a smart thing to do. When the real estate market turns around, you can get your investment back or sell your house to get a better one. Here are some remodeling ideas that can add value to your home.
1. Remodeling the kitchen
The kitchen is considered to be the heart of a home. Thus, any updates or improvement in the kitchen will pay off. According to real estate specialists, you can expect a 60% to 120% return of investment on a kitchen renovation project. You just need to make sure that you do not go overboard. Never remodel your kitchen in a way that it will look more extravagant than the rest of the rooms in your house. A simple repainting job and replacing old appliances with new and energy-efficient models are likely to impress a lot of potential buyers.
2. Adding another bathroom
If you only have one bathroom in your house, adding another one will bring back your investment pretty well. When looking for a room to be your extra bathroom, you can use any underutilized spaces such as closets, areas under the stairs or spare rooms.
You need to have at least 18 square ft for a half-bath and a minimum of 30 square ft for a full-bath with a stand up shower. If you are thinking of having a bathtub installed in your new bathroom you need to prepare at least 35 square ft of space.
3. More space and light
A dark and cramped house is not likely to attract many potential buyers. If you have small rooms in your house that blocks natural light, you may want to knock down some walls and open up your floor plan. An open floor plan many involve combining the dining room, living room and the kitchen into one big space which is very suitable for a casual lifestyle. This will give a small house a light and airy feel and the illusion of having a larger living area. It is also good for families with children because it allows parents to keep an eye on their kids while preparing for dinner. If you do not want to tear down walls, you can widen doorways by 6 to 12 inches.
4. Home office
Since more and more people work from home, a home office is now a necessity rather than a luxury. Make sure that you have enough space in order for you to work comfortably and enough cabinets to store your supplies and paperwork. Telephone lines and data ports will also give your house an added value.
5. Boost curve appeal
When it comes to real estate, first impressions doker. If your house does not look attractive from the outside, then do not expect potential buyers to make it inside. Consider repainting if the exterior paint of your house is already faded. Choose paint colors and exterior decorations that match the general style of your house. Add an attractive front and back yard landscape if possible. You can also add a deck or a patio to boost the value of your property.