Location is the ultimate driver in the quest for value of a home, on a lake, great views, acreage or even a vintage year that lends a specific style. What can you do to add value to your home instead of picking it up and moving it to a location with a view?
First, grow the gross livable square footage of your home, this would entail finishing an unfinished basement or possibly adding living space in an extra-large attic space. If you are adding finished square footage, make thoughtful decisions. A basement remodel with no bathroom can actually detract from your’s home value. Additional bedrooms, with closets, are always a smart decision; even if you use them as a home office or gym.
If a basement remodel is not in the cards, maybe it is about opening the floor plan you currently have. Open floor plans are still considered preferable to buyers and therefore result in more value. Taking walls can create the illusion that the home grew while remaining on the same footprint. Of course, there will be consulting with a contractor or engineer to verify that when the wall does come down the roof doesn’t follow it… probably a good idea.
Next, consider the condition of your home, are the fixtures old? Are the appliances banana yellow? Is there contact paper on the kitchen cabinet shelves and drawers? Does shag carpet greet you when you walk into the guest bedroom? Is the laminate tile floor peeling up in a corner? Time to upgrade! The three areas that see the most impact will be the kitchen, bathrooms, and flooring throughout the home.
The kitchen is the heart of the home, food, drink and conversation all happen here, a gathering place. Having a flow to the kitchen is key, once this has been discovered now it is time to take a hard look at finish, cabinets, appliances, and countertops should be in lockstep when upgrading a kitchen.
Solid surface countertops, stainless steel appliances, pendant lighting and updated door hardware are all top producers when it comes to increasing value. That doesn’t mean you need to break the bank or gut your kitchen. Look what can be accomplished with new paint, countertops and lighting.
Bathrooms are much the same, the flow of the room, the feel of the tile on your feet, the placement of the toilet, all especially important and should be well thought out before proceeding down this renovation path.
New tile floors give the biggest impact and return on investment. Additional areas to add value are with new vanities and sink/bath faucets, providing storage and double sinks, if possible.
Have you walked into a home and stared at the floor? I have, the amazing style and ambiance that can be brought into a home with the right product under your feet has the capability to make or break a cohesive feeling to a home and in turn drop the value potential buyers or appraisers may see. Hardwood and high-end laminate floors are still top choices. Consider running the grain of the floor parallel to the wall to allow the eye to track the length of a room, making it feel larger. Looking for help selecting a floor?
When carpeting a room make sure to invest in a quality carpet and pad. Inexpensive carpet will not last, showing ear paths, stains and seams quickly and result in needing to be replaced sooner. High quality carpet and pad under your feet is like walking on a cloud, when you step out of bed in the morning.
Finally, quality! Quality of the finish, not necessarily the design (though a solid and timeless design does help) will be the crescendo when considering what will bring the most value to your home. Hardwoods that are durable, soft close cabinets and drawers in the kitchen, quartz or granite slab countertops, highly reliable appliances, or a frameless glass shower all bring value.
There are so many options to consider when finishing a project be sure to do your homework to understand how something will perform not only for you and your family but for that person and possible family who will be next to enjoy your amazing home.