Enhancing Home Value with Renovations
Many people plan home remodeling to make a house more pleasant or enjoyable. As real as these benefits are, there are other advantages to home renovation. A construction project with a general contractor can enhance the value of a residence significantly, depending on the type of work performed.
One of the most effective ways to add value to a home is to plan a home remodeling project that involves updating old features with newer, more attractive ones. For example, updating plumbing is an important project to consider. Not only will this home renovation resolve many problems that could be hiding in a plumbing system, but it can also involve new fixtures that add sparkle and innovation to rooms. Some professionals estimate the return on investment with updated plumbing to be as much as 260 percent.
Bathroom and Kitchen Projects
An aged bathroom or kitchen is often an instant turnoff to potential buyers. When a house features a fresh and beautiful bathroom or kitchen, it can greatly increase the overall value of a residence. In fact, some homeowners will see up to a 170 percent return on investment after performing these types of home renovation.
Outdated or worn flooring is another area to consider when planning a home remodeling project. Removing old carpeting or aged surfaces can have an instant and significant impact on the value of a residence. This type of project can provide an approximate 102 percent return on investment.
Not all work performed on a residence has to be significant to result in big returns. Although some work will benefit from having a general contractor on the job, it’s also possible to perform many projects yourself, such as adding a fresh coat of paint to the walls or redoing outside landscaping areas.