Part of the fun of being a homeowner involves home improvement projects. Sometimes, these improvements are necessary; a leaky roof, a squeaky floorboard or a malfunctioning appliance.
Other times, they can be things that you want to do for your own pleasure; the addition of a sunroom perhaps, or upgrading light fixtures or redecorating the living room.
You want your home décor to match your lifestyle and design tastes, and that everything functions as it should to create an enjoyable place to relax for the entire family.
But you also want to be sure you get the most value possible from what is likely the largest investment most of us make; our home. No matter what home improvement adventure you plan, the end result is likely to increase the resale value of your home, or at the very least, make it more attractive to buyers.
So, we’ve put together a quick list of the top five home remodelling projects you can do that give you the “most bang for your buck”.
Extend Your Square Footage
Adding space to your home will almost always give you the best return on your investment. A room addition or finishing a basement adds heated square footage to your home, which is almost certain to increase its value. Different markets and neighbourhoods vary though, so asking a local real estate agent is often the best way to find out what truly works in adding value to the home.
If you are looking to do home improvements that will add monetary value for your home, and result in a higher resale price, remodelling kitchens and bathrooms are usually the best bets of recouping your money. These areas of a home tend to get more wear and tear than others and thus need to be updated more often.
Replace Major Components
Replace major components like your roof, HVAC system, water heater or kitchen appliances. Maintaining and replacing the major components is one of the most important things you can do to maintain the value of your home.
Replace Your Windows
If your windows are more than 10 to 15 years old, you can greatly increase the energy efficiency and appearance of your home by installing new vinyl-framed, multi-paned windows.
Build a Garage
If your home does not have one, adding a garage can add value, especially if you live in an urban area where parking is scarce or colder climate and weather conditions prevail. Think very hard before you consider converting an existing garage to living space; while it may seem tempting, remember that a garage can add up to 15% to the value of your home.