How to Increase Your Home's Value

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Real Estate

 

Home renovation is on the rise! Did you start yours?

The two main reasons for homeowners deciding on home renovations are the low-interest rates offered by refinancing their properties and the Stay-At-Home order due to the COVID-19 crisis. Since families are spending more time at home the need for a larger space to work & gather has spread. Remodeling is a must because it adds to your enjoyment and value to your home over time.  Here are some common projects and the average cost recouped according to Realtor Magazine:

Bathroom remodel 88%

Major Kitchen remodel 81%

Family room addition 80%

Deck Addition 77%

Master suite 75%

Attic Bedroom 74%

Siding replacement 73%

Window replacement 69%

Home Office 55%

My suggestion to you is that before considering any type of renovation you should budget the project. If cash is an issue, consider using the equity you have in your home.  Remember, someday you may sell and many home improvement projects don’t add value to your home i.e., wallpaper, dark paint, carpet.

Please feel free to reach out with any additional questions or concerns and know that I am happy to help should you, family or friends have any real estate needs in the future.