Increase property value when remodeling

Increase property value when remodeling Remodeling a home takes time, energy and most of all, money. Homeowners often focus on funding projects that add value to the price of the home. Generally speaking, a home addition that increases the functional space of a house -- such as adding another bathroom -- is more valuable than a project that makes the house look better aesthetically. The return-on-investment estimates include the cost of professional labor, which can vary based on company and region.

Adding a Bathroom

Installing an additional bathroom, particularly if your home only has one, is a cost-conscious investment. Find the space for a second bathroom by scrutinizing under-used spaces in your home, such as guest rooms or large closets. Half-baths require at least 18 square feet of space, according to MoneyCrashers.com, while a full bath with a stand-up shower needs at least 30 square feet. Adding a full bathroom with a tub requires at least 35 square feet. You’ll recoup nearly 55 percent of the cost of adding a mid-range bathroom and add more than $20,000 to the value of the home.

Adding a Steel Entry Door

Installing a steel front-entry door is the number one project in the Cost vs. Value report, with homeowners recouping more than 85 percent of the cost. A steel door adds security to the home and increases energy efficiency. It’s also more cost-efficient than adding a fiberglass door. The fiberglass variety adds approximately $1,800 to the home value, while steel doors add around $1,000. A new door also boosts curb appeal, especially a large custom door.

Adding an Outdoor Deck

Installing a deck adds square footage to your home, which increases the value. A wooden deck is more budget-friendly than using composite materials; however, a composite deck adds more value to the home. You’ll regain 77 percent of the cost of a wooden deck and 67 percent of a composite deck, but the latter adds $10,000 of value while the former adds just over $7,000. This not only adds value, but makes better use of your outdoor space. Here is a prime example of functionality adding more value to your property than monetary value.

Adding a Second Story

Building another story on your home is undoubtedly one of the most-expensive additions you can undertake -- an average of $152,000, BUT it also adds nearly $100,000 of value to the home. Before beginning construction, contact the local zoning office to ensure you’re legally allowed to add another story. Some codes have height restrictions. If you can’t build it outward, build it up!

Adding New Windows

Adding new windows to your home does more than update its appearance. New windows make your home more comfortable by eliminating drafts and save you money on energy bills by reducing heating and cooling expenses because of better insulation properties. Ecofriendly Buyers recognize this value and will, on average, increase what they pay for your home by more than 81 percent of the cost of vinyl windows and 79.5 percent of the cost of more expensive wood windows.

Adding To Your Kitchen

Adding more counter space, cabinetry, and appliances to your existing kitchen pays off, but keep in mind that even moderate changes can recoup a majority of your initial expense. While a major remodel pays back almost 76 percent of what you spent, a minor remodeling pays back 91.5 percent of its cost. Adding a center island, upgraded cabinetry and a dishwasher -- when your kitchen never had one -- can make using your kitchen much more enjoyable. Adding only a pantry will create desirable storage. There is much to change when a full kitchen remodel isn’t possible.

Redesigning Attic Space

Turning unused space in your attic into a usable bedroom does more than give you more space to live in; it also makes your house more attractive to buyers who need an additional sleeping area. On average, you will be able to recoup almost 77 percent of what you spent on adding the attic bedroom when you go to sell your home. Additionally, an attic bedroom could serve as a home office if the bedroom was designed for house guests.