How You Can Add Value to Your Home with a Renovation
August 12, 2019
Why are you making renovations to your home? Are you working your way closer to your dream home, perhaps, or just trying to add some value to the house before you put it up for sale? The reality is, renovations are a great way to boost your property value whether you plan on selling or not.
A home renovation can be a major expense, but what if it paid for itself? Given our current housing shortage, a tactful, savvy home renovation can leave you better off financially by adding precious value to your home.
Below, we’ve outlined six helpful tips to help you ensure your upcoming home renovation improves the value of your property.
Keep an eye on the property market
Trends in the housing market are constantly changing, but most houses aren’t. Browse the homes for sale in your area to give yourself an advantage. What features are most common among the homes going for the highest prices?
Particularly if you plan to put your home on the market soon, basing your renovations on what is currently popular in the market, rather than what you would personally prefer, is the best way to get the most bang for your buck.
Consider the cost of your renovations
The value added to your property won’t benefit you if you spent a fortune on the renovations themselves. Work with your renovation company to develop a plan that will add more value to the home than you spend on it.
Bathrooms and kitchens add the most value
If you want to boost your property value but you’re not sure where to begin, studies have shown that bathrooms and kitchens are the best rooms to focus on. These rooms offer the most opportunities to modernise your home and improve energy efficiency. These rooms are also key indicators for prospective buyers regarding the overall functionality of the home, considering how much time will be spent in both.
Will your renovations be visible from the street?
Don’t forget about that street view! Exterior renovations will add the most value to the property if they make it more attractive from the street. Even you made interior renovations, you can use new, bold, well-insulated bay windows to make your flashy new room visible and boost your home’s street appeal.
Storage, storage, storage
Nobody wants to give up a bunch of their personal belongings when moving into a new home. While some people shopping for a new house may be downsizing for budgetary reasons, boosting your storage space through renovations removes this concern from the table. Renovations offer a great chance to improve spatial efficiency and improve your overall storage capacity.
Energy efficiency is king
The cost of living is on the rise, and a home that won’t run up your energy bill can be a very attractive selling point. If you’re tearing up a room to make it more appealing, go the extra mile and update the room’s wall insulation and windows. After all, energy efficiency doesn’t just boost your property value, it helps create a healthier home and aids the environment.
The right renovation company for your bottom line
If you’re seeking the best building company for your renovation Auckland has to offer, look no further than LD Construction. Our team of experienced building professionals will work with you every step of the way to make your renovation as fast and painless as possible, adding to your property’s value without emptying your pocketbook.
Contact LD Construction to arrange a free consultation!