Remodeling areas of your home are done to improve your quality of life.  You might be ready to make a kitchen more functional, change the purpose of a room, or finish the basement.  While all of these alterations might make your Locust Grove home better for you and your family, this doesn’t necessarily mean that it has added value to your home.  When you are planning to live in a home long term, then the benefits of the remodeling projects to your life can outweigh the added value they might add.  However, if you only plan to be in a house for the short term, then it’s important to consider if the investment you make in the remodel will result in an increased home value.

Understanding Value

If you are thinking of tackling a remodeling project for the sake of resale value, I would suggest chatting with a REALTOR®.  The value that the project can add to your home depends on your local housing market and the condition of your home.  For example, switching out carpet for luxury plank vinyl is an aesthetic choice that might make your room look better, but a home appraiser (the person who decides the market value of your home)  isn’t going to assign much value to the flooring choice.  However, redoing a 1970’s kitchen would add value.  You also have to keep in mind that the return on investment (ROI) is never one hundred percent.  This means that if you invest $50,000 into a kitchen remodel, you won’t automatically add $50,000 to the listing price of your Locust Grove home.  On average, a kitchen remodel brings about a fifty to seventy percent ROI depending on the changes that are made.  In the end, you need to research and walk a fine line between what you invest in a project and what you will earn back from it.

Remodeling Projects that Can Add Value to Your Home

Kitchens

Kitchens are important to buyers.  Having an updated move in ready kitchen is one space in your Locust Grove home to invest in.  You don’t necessarily have to strip the kitchen down to the studs to create added value in your home.  Things like adding a backsplash, updating all the fixtures to compliment each other, updating the flooring, and refreshing the lights can all make the space feel more modern.  Improving the function of the space by getting new cabinets that offer more storage solutions or changing the layout can also add value.  Replacing countertops and appliances so they match are also things homeowners do during a remodel.  When doing a remodel for resale purposes, try to stick with a neutral color palette that will appeal to the widest range of buyers.

Bathrooms

Just like kitchens, bathrooms are also important spaces to buyers.  A primary bathroom attached to a bedroom and a powder room for guests top the list of bathrooms that buyers are most eager to see in a Locust Grove home.  You will get the most bang for the buck by focusing on cosmetic changes like updating the flooring, replacing the toilet, or  installing a double vanity with storage.  Consider carefully projects that change the layout of the bathroom, since moving pipes can get expensive.  One seemingly minor change that can make a big impact in a bathroom is replacing the grout.  Years of wear and tear can result in tired looking grout that doesn’t appear clean no matter how hard you scrub.  If you need to replace a bathtub in the primary bedroom, you might want to consider a zero entry shower which appeals not only to people with mobility concerns, but also to buyers who are looking for a forever home.  Make sure to leave at least one bathtub in your Locust Grove home though, as families with small children prefer it.

Additional Living Space

Adding additional living space to a home will always increase it’s value. This can be a big undertaking if it involves adding a foundational piece to your home, altering the roof, or tearing down walls, so you want the square footage addition to really be adding another room to your home and not just a couple of feet.  Sometimes the addition of a bedroom has a lower ROI in the project itself, but altering a home from two bedroom to a three bedroom makes it much more marketable and appealing to buyers.  When homeowners aren’t ready to invest in all those changes, they can turn to finishing a basement or attic space to add square footage to their Locust Grove home.  

Curb Appeal

Spending some money on upping the curb appeal of your home can help it’s value.  The good news is that most of these outdoor projects can be completed by homeowners.  Things like trimming bushes, pruning trees, adding a fresh layer of mulch, and painting are weekend projects.  Switching out an old garage door for a new one instantly ups the curb appeal of your Locust Grove home and has a high ROI.  Higher ticket items like a new roof or windows are also valuable in the eyes of a buyer, but offer a lower ROI.

Remodeling Projects to Avoid

These are some home improvement projects to avoid doing at your Locust Grove home solely for the purposes of adding value to your home for selling.  While these changes may add value to your life and might be worth doing solely for yourself, they won’t add to your home’s market value.

Swimming Pools

For everyone who loves a pool, there is a person who does not.  The cost of installing a pool is not returned to the seller.  It might even limit the number of buyers who would consider purchasing your home, since pools come with upkeep cost and time commitments.  

Specialized Rooms

A wine room or in-home movie theater might get a lot of us with your family and friends, but that doesn’t mean the room will be appealing to everyone.  Buyers who don’t share your interests may just see a lot of work to change the room nor will an appraiser add more value to your home for these specialized spaces.

Kid Rooms or Play Spaces

It is fantastic to have a place in your home for children to play.  However, remodeling a room to appeal to children with bright paint on the walls, an indoor basketball hoop, or a climbing wall won’t add value.  

Removing Home Features

You may not like or ever use the fireplace in your Locust Grove home, but removing this feature is expensive and can be tricky to disguise.  Taking features out of your home (unless, of course, they pose a danger) will not bring you any return on investment.  Likewise, taking space from one room to give to another doesn’t change the overall square footage of your home.