Every homeowner wants to increase the value of their home. Now, more than ever, people are taking the steps to do so. As home improvement shows on HGTV have grown in popularity, so has consumer awareness about some of the ways that you can add value to your home. Increasingly, people want to add to the resale value of their home while also adding to the quality of their living space.
Increase the Value of Your Home
Most people realize that one of the fastest ways to increase the value of your home is through remodeling projects. However, not all investments are created equal. Most experts consider the top remodeling projects to be kitchens, master bedrooms, and bathrooms. Some experts chalk this up to these being the spaces where people generally spend the most time.
Kitchen and bathroom renovations can often be the most costly when compared to other home improvement projects. However, the project can often pay for itself in added value. According to Remodeling magazine, these projects provide typically give an 80 percent of the return on investment in cost versus value. Minor kitchen remodeling projects can recoup the highest percentage of their cost. This includes projects such as upgrading cabinets with new doors and drawers, installing new appliances, and updating countertops.
Enjoy Your Remodel
However, if you are considering a remodel, it may be worth thinking about incorporating any extra splurges in the places where you enjoy the most. For example, if you enjoy cooking and serving meals to your family, adding an outdoor kitchen would be a great way to increase value both to your property and your quality of life.
Consider the Neighborhood
In order to get the best value out of your renovation it is important to consider the neighborhood. When picking a renovation project, remember that most buyers want a home that is fairly similar to the homes in the neighborhood. Drastic differences may be appealing to certain buyers, but in order to add the most value you will want to appeal to a wider audience.
Take Advantage of Hawaii’s Natural Advantages
Home improvement projects should always take into consideration the natural advantages of the landscape. If you can open up a wall to take better advantage of a view, then the cost to do so could pay off. Creating open spaces that can better take advantage of Hawaii’s trade winds will also make your home more attractive.
Another project that can add value to your home is adding a deck. Building a wood deck is another great project for any home in Hawaii, because it can significantly increase quality of life. Typically, sellers are able to recoup 60 percent or more of the cost to add the deck.
Avoid Costly Renovations
According to a new survey from Zillow, real estate agents and interior designers recommend that homeowners stick to minor renovations prior to listing their home. This is because the increased sale price may not outweigh the time and money that is spent on the remodel. Instead, they recommend spending money on renovations that will bring the home up to current standards and still appeal to a large number of potential buyers.