Home renovations can add value to your home. Even if you do not plan to sell your home or take out a home equity loan, adding function through a few home renovations is something worth doing.
But remember that not all home renovations prove to be beneficial in the end. Consider two important factors before you take on any project.
1. Will this project add value to my home?
2. Will this home add function or improve my overall satisfaction with my home?
If you answer yes to either or both of these things, it may be time to tackle that renovation project.
Top 2 Projects for This Year
The following two projects are going to add value to your home from the view of an appraiser.
1. The Kitchen - It is the single most important area of the home and remodeling it, upgrading it and sprucing it up does both improve its function for your needs and add value to it in the long term. Your goal here should be to modernized - invest in energy efficient appliances, instead of replacing cabinets you can reface or refinish the cabinets, and add lighting.
2. Remodel the Bathroom - Add a bathroom or remodel the ones you have. This is one of the best ways to add value to a home especially if you do plan to sell. Master bathrooms add more value than others do, but any full bath (with a tub or shower) is also an important advantage. Modernize with new fixtures or reface or refinish the cabinetry.