How Renovations Increase Home Value
Updated: Jun 15
The first half of 2020 has been unprecedented in many ways, but mainly, the onslaught of COVID-19 has meant economic uncertainty for countless people. Unfortunately, the jobs and paychecks that people once relied on to afford mortgages, pay bills, or to simply enjoy a night out on the town may not be as reliable as they once were.
In these intimidating times, it’s natural that many would want to save as much money as possible in order to better afford the daily necessities of life. And in many circumstances, this is absolutely the safest route to go. But when it comes to improving your home, sometimes, spending a little bit of money now will go a long way in the future. A significant renovation on your home, while initially being a financial investment, truly is a win-win. You either make your home more appealing to the residents yet to come, or you get to enjoy the renovations for yourself years into the future.
Here are a few home improvement projects to focus on that will surely increase the value of your home:
Who couldn’t use a few extra hundred feet of square feet of space in your home? Whether it’s an additional seating area for your family or adding a bar area to entertain friends, renovating a portion of your basement will always add value to your home. Home Advisor suggests that whatever you decide to do with this additional space, make sure the renovation has an open concept that brings in as much natural light as possible.
Updating Bathrooms and Kitchens
Updating a kitchen and a bathroom is something that is appealing to all potential home buyers-relaxing in a spa-like bathroom after a long day or making a gourmet meal in a kitchen any chef would covet is the stuff dreams are made of! However, if you are considering updating your home’s bathrooms or kitchen, Home Advisor says it’s important to carefully consider the material you are using, it’s essential to find the perfect balance between updating the space and not overspending so you do not spend more than you have to.
According to Money Crashers, while window replacement in a home costs anywhere from $7,500 to $10,000, you can expect to recoup at least 60% of your costs if you ever decide to sell your home. In the meantime, if you install Energy-Star rated windows, you can receive a 10% green energy tax credit when you next file your state and federal taxes!
Want to recover approximately 97% of the cost of renovation during resale on a project? Then consider adding a band of stone-veneer to the street-facing facade of your home! Just a 300-square foot band of this instead of your home’s existing vinyl will be appealing to future buyers and of course, you in the short term!
Whether you have been spending the past few months rarely leaving your house or you are planning on moving in the near future, there are always improvements to be made on your house. HPM Craftsmen prides itself on providing exemplary customer services. We take every measure to ensure you are satisfied with all your home remodeling needs and will do whatever it takes to earn your business and remain life-long clients. HPM Craftsmen has been serving the Holmes area for a number of years. We pride ourselves on being large enough to provide professionalism and reliability, yet small enough to provide personalized service. To discover more about how we can serve your needs, please visit our website or call us at 845-878-3004 today. Like us on Facebook to stay up-to-date on current events, tips, and specials.