Are you thinking about selling your home or just wanting to add value to it? Instead of randomly picking things to improve you will want to figure out which improvements give you the biggest bang for your buck. Here are the top 3 things that you can focus on to do just that.
1.) Adding square footage: This will of course add value to your home but you will want to be sure to keep costs in check while doing this. If the overall cost is kept in a reasonable range you should be able to recoup between 50%-85% of your initial investment when selling. Plus the additional square footage will bring more perspective buyers right off the bat.
2.) The central room in most homes is the kitchen which is why that is another important place to invest to increase your homes value. The great thing about kitchen remodels is that it doesn’t necessarily require a huge investment, plus you don’t want to make the kitchen too fancy or stand out from the rest of the home. If done correctly a kitchen remodel should recoup you 60%-120% of your initial investment.
3.) There’s a pretty widely accepted fact that you can never have too many bathrooms. Unfortunately you certainly can have too few. Adding a bathroom to a home (especially if it only has one to begin with) is a great way to improve the overall value. Estimates range from an 80% to a 130% recoup value of your initial investment for a bathroom addition.