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Given the state of the housing market, it’s not enough to rely on home prices as value markers anymore. As witnessed across the country since 2004, housing prices are extremely vulnerable to economic downturns. On the other hand, there are ways to increase the value of your home, should you decide to sell down the road and want to attract top pricing and buyers. Keep in mind, not all home remodel projects can add value to your home. As you begin to budget out ways to increase value through home remodeling you should carefully consider those types of projects that will both enhance the “livability “ Of your home, as well as upgrade the style and design to suit current market trends. Here is a short breakdown of the most popular (and usually profitable) home remodeling upgrades you can make with relative confidence on their value potential. The Kitchen: You already know, the kitchen is the most “lived in,” best utilized space in just about any home. Taking that 1970s kitchen into the modern age will undoubtedly add immediate value to your home, but also make it more fun to use and be in. The coolest thing about kitchen upgrades is that you can go as deep as you desire. Not all kitchen upgrades need to be extensive and can easily be customized to suit your budget. Simple changes, such as replacing the cabinetry or painting the existing doors can transform the space enough to make it feel more modern and appealing. Appliance upgrades, particularly Energy Star products, will add immediate value to your home come with the added benefit of saving money on energy use. Replacing kitchen flooring, say from old, cracked Linoleum to something more modern, such as terracotta tile, and doing the same for old laminate counter tops with granite or tile are sure-fire ways to get your money’s worth. The Bathroom: Few can dispute the value to be had by remodeling a bathroom. Replacing an older sink with a vanity or stand-alone, modern pedestal sink, new lighting fixtures, flooring, a low-flow toilet and some fresh paint will immediately take your bathroom from blah to wow. If your home has only one bathroom, another sure-fire way to add value to your home is to add another bathroom. Of course, you need to have the space for it, but resale statistics show that homes with two bathrooms spend less time on the sellers market than those with only one bathroom. Less time on the market means a faster sale and faster cash back to you as the owner. Windows: No question about it, one of the best investments homeowners can make, especially if their old windows leak or are otherwise not energy efficient. Since windows account for substantial heat gain and loss in homes, you can recover energy loss, which translates to savings for you, while at the same time making your home all that much more sellable. Flooring: New flooring is a minor way to add value, but an important one, particularly because, should you decide to sell your home, you can add the price of the new flooring into your sales listing price. Tile flooring and hard wood are among the top favorites for flooring and you are certain to garner more buyers with these options. But if you go with new carpet, be sure to splurge on something modern and stylish. To know more about Bathroom Fixtures please browse Kitchen Fixtures and Decolav Bathroom Vanities.
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