Four Home Remodeling Projects That Add Value To Your Home

One of the biggest questions that people ask themselves when they’re selling their home is whether or not they should renovate beforehand. It’s a big question because renovations can cost a lot of money and it’s no doubt a huge undertaking.  Plus you have to ask:  Will I recoup my home remodeling dollars when I go to sell my home? Here’s the short answer:  YES.

Four Home Remodeling Projects That Add Value To Your Home

Loft / Attic Conversion

Basement Renovation

Everyone loves a hidden gem, and an attic conversion into a new bedroom, sitting area or even a small bathroom can be just what you need to add up to 30% value to your home. According to the “Remodeling Impact Report” from the NATIONAL ASSOCIATION OF REALTORS®, the national median cost of an attic bedroom remodel is $75,000, and you’ll recover 53% of that cost at resale.  But unless you're adding plumbing or using expensive materials and fixtures, to me, that price tag is excessive.  I've no doubt that you can create a gorgeous attic living space for +/- $20,000 and STILL recoup 53% at resale.

No loft in your home? No problem. You can create the same type of spaces in your basement as you can your attic: think extra bedroom or family room.

There are remodeling companies that specialize solely in basement renovations, and can handle everything from waterproofing to complete refinishing.  You'd be left with a clean slate ready for your decor and design.  

According to Remodeling magazine, the average return on investment for a basement project nationally is currently around 75 cents on the dollar.

Kitchen or Bathroom Remodel

Garage Conversion

The two rooms in the home that potential buyers like to see when they first tour a home is the kitchen and the bathroom. An outdated kitchen or bathroom is certain to dissuade the interest of potential buyers as well as lower your home's resale value.

Remodeling the bathroom is a great way to get your feet wet (no pun intended) with home remodeling projects as it's really just a matter of upgrading.  Assuming you have a bathroom layout that's adequate, you're spending your remodeling dollars on fixtures, finishes and flooring.  And for your efforts you'll see a 56% return on your investment.

Usually a space reserved for cars, a garage can be upgraded into just about anything you want. Most garage conversions come in the form of man caves and workshops. A detached garage, however, has even more potential.  A separate office, game room, guest house or gym are awesome options for a a detached garage conversion.

A garage conversion comes in at the lowest ROI at just 20%, for a project that typically costs anywhere from $10 - $15,000.

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Home remodeling projects that add value to your home can definitely up the ante when it comes to resale. Or, you could change your mind and stay in your newly renovated home.  Either way, enjoy the investment!
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