Renovating Can Add To Your Property Value

Renovating your home is not as easy as some television shows make it out to be, but overall it can be a very rewarding experience that can add money into your pocket if done correctly.

Smart Kitchen Renovations That Will Add Value To Your Home

Historically, kitchens have always been a family gathering space.  Today, it seems many people do not get to spend as much time as they would like with family and friends and when that time comes, people want to spend it in a space filled with lovely food fragrances.  Before you make any major renovations on your kitchen, you will want to consider what you like and dislike but do not overlook studying current trends in today's modern kitchens.  You might find something that appeals to you and can increase the value of your property.

 

Just a short time ago, granite countertops were considered high end as were stainless steel appliances.  Now they are considered standard equipment for a home and many people who enjoy cooking consider them a must-have for a home.  To be considered high-end in this day and age, an upgrade to brushed copper for those appliances is the norm and colored glass accents are also very much in style.  Open floor plans are also wildly popular these days, and if your kitchen is far from the front door, that is another big plus for you.  

The Right Design

Having a design that has a pantry that separates your kitchen from your garage is also highly desirable.  It makes shopping so much easier when you do not have to lug groceries from your car all of the way to the kitchen.  Gas stoves these days are also much more favored than an electric stove although the cost of installation may set you back a few dollars.  Hood fans are also great to have as they not only rid the kitchen of odors— they can also be decorative and add a touch of class.

 

Kitchen islands are also wildly popular and if they are wired and large enough to also be used as a buffet table, which is even better.  You should also be aware that ambient lighting and accent lights are in style, while ceiling kitchen lamps are out.  Colored lights are also popular with home buyers as are dimmer switches. Oversized cabinets and plenty of drawers with extra space are also excellent selling points.  

 

All of these improvements will add to your home's value and make it more marketable to a wider segment of the population.  If you are a lover of fine wine, a wine rack might be an addition you love but it will not add any to the value of your property.  Appliances that are not placed where they can be used without bumping into other kitchen fixtures are also of no help.  If you have an island with a sink that is not the primary kitchen sink, you might consider making it a wet bar— as long as you keep it clear of dishes and dirt.

Add Value to a Home Through Bathroom Renovation

Renovations can help to increase the value of your home.  One of the most important renovations you can make is to add a bathroom.  It increases the value and makes a home much more livable.  You may want to start slow by adding an electrical plug to an existing bathroom.  This small renovation can actually make a big difference.  If your home has only one bathroom, research whether it is possible to add another.  If you plan on adding a bathroom to the main floor of your home, make sure that privacy is a priority by not having it share a wall with your living room or the kitchen.

 

The selling point of an additional bathroom among others things is the amount of space for storage.  Everyone is more comfortable when they have their own drawer for personal items and enough counter space to get groomed before work in the morning.  If you add storage space and a bigger counter you are almost certain to get more money for your property.

Decorate According to Taste

Adding a "mini-spa" may be something to think about when considering a master bathroom close to your bedroom.  His and hers sinks are also a good addition as is a glass shower with multiple jets and a deep soaker bathtub.  Marble counter tops are also very desirable as are recessed lights, windows, and high end fixtures.  An enclosed toilet area that adds privacy also adds considerable value to a home.

 

You should bear in mind that a bathroom with lots of bells and whistles may provide you with a touch of luxury living, but it will not necessarily increase the value of your home any more than a typical bathroom addition or upgrade.  There are of course a few exceptions to that rule and adding amenities such as a heated floor or a fireplace are luxuries that do add real value.  Just follow the simple rule of thumb that the quality of each room of your home should be relative to each other.

 

You must also realize that the overall real estate market fluctuates and has an effect on the value of your home.  If the overall market is slow, it means your home may very well not sell as soon as you wish.  Or it may go for a lower price than what you are asking.  On the other hand, a real estate market that is red hot means you may get multiple bids on your property and may be able to get more than your asking price.

The Location

The biggest factor in how fast your home sells and how much you get for it— boils down the location.  It is not just location, but the shape of the lot your home sits on and the orientation.  If for example, you have a pie-shaped lot, and the tip of the pie is located in the back yard, that means there is less private space and less space between your home and your neighbors.  It also means that largest piece of the pie lies in your front yard.  If you live in an area that receives a significant amount of snowfall and you are required by a homeowner's association to keep sidewalks clear in front of your home, which means a lot of work.  That may not appeal to many older buyers who have plenty of cash to invest in a new home.  A pie where the majority of it is on your backyard is much more desirable.

Orientation

Orientation is also another factor that determines value.  Homes that have backyards that face to the south, southwest, or west are in general more valuable than others because they catch more of the sun.  If your property is next to some open green space that could either work for or against you?  It can mean that you can offer more privacy to potential buyers and that in turn means in general a more valuable lot.  It can also mean that a specific type of fence will need to be erected between your lot and the open space, making it into a footpath that can draw more traffic.  

 

If you have a corner lot, your potential buyers will need to consider the neighborhood and any rules that exist before they make a commitment to purchase your property.  If your property is in a part of the country that receives a large annual amount of snowfall and the homeowner is required to keep sidewalks clear, that is not desirable as it requires a lot of work.

 

Heavy street traffic in front of the home is also something that will make a buyer think twice.  Other things buyers will take into consideration are if the property is close to power lines or it is located on a sloping hill.  There also may be a homeowner's association that has very strict covenant regulations and that is another consideration.

Do Not Forget the Electrical System When Upgrading

Many homeowners make the mistake of only doing renovations on things that can be easily seen.  You can spend a large amount of time in choosing the right fixtures, looking at fabric swatches, and deciding on whether to paint a home when one of the most overlooked items in home renovation are electrical outlets.  You should know where the outlets are in your home and put some thought into whether they are convenient and if more of them are really needed.  If you are in the middle of restoring a home— that is the time you need to look into your electrical system.

Start With the Master Bedroom

The master bedroom outlets are a good place to start.  The best possible case is to have an outlet on each side of the bed.  The worst case scenario is to have two people in the bedroom being forced to share one outlet that is located behind the middle of the headboard of the bed.  This makes reaching it difficult and can make life not so grand for those having to reach for it.  Installing outlets on each side of a bed can make life easier for all.

The kitchen is another area that should be looked at when doing a renovation.  Kitchens with islands are increasing in popularity as they add a good deal of work space and can also double as a place to eat. Having a kitchen island that is wired gives you another place to plug in appliances and warm up trays for a delicious buffet.

The Heating System

Another area that is often overlooked is heating registers.  In order to efficiently heat a home, there should be a minimum of one in each room and larger rooms may very well require an extra one in order to distribute heat more efficiently.  If you have a large room with vaulted ceilings, they need to have a ceiling fan to distribute heat.  A remote control for a heating and cooling system is yet another big plus for you.

 

Since wireless internet came around, it is no longer necessary to go overboard and wire an entire house in order to get service.  One thing you may want to consider is putting cat-5 cable in the main living room in order to handle some of the more advanced entertainment systems that are on the market today.  If you have a home office, you may also want to wire it in a similar fashion.

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Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.