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Which Home Renovations Add the Most Value and Appeal?

Which Home Renovations Add the Most Value and Appeal?

Now more than ever, the supply of available housing makes it quite easy for prospective buyers to find the home of their dreams. For sellers, however, the supply means that a home must possess a certain amount of appeal and aesthetic charm in order to sell in an expedient fashion. Given that most people don’t want to buy a home that needs substantial work, this can sometimes require renovations and improvements be made prior to selling.

Even for those not seeking to sell their homes, improving the look and feel in the present day can lead to improved value and appeal later. Perhaps one or more rooms feature outdated decor or need a total transformation. 

Whatever the motivation, most homeowners want to focus on renovations that generate the greatest number of benefits. With that being said, which home renovations add the most financial value and generally make the home more appealing?

Kitchen Renovations

Arguably one of the most efficient renovations when balancing value and appeal, kitchen renovations can be revolutionary for many older homes. Particularly in homes that are several decades old, various components such as cabinetry and flooring can be severely out-of-date. Not only can this take away from the appeal of the home among those who live there, but it also may inhibit the ability to sell to select home buyers.

 Which Home Renovations Add the Most Value and Appeal?

Kitchen renovations are often cost-neutral, or can even recoup more than the expenses involved in high-demand housing markets. This is one reason why so many sellers invest in kitchen renovations prior to selling: it adds an incredible amount of appeal and value.

It is important to enlist the services of the right kitchen designer for any renovation, however. Given that the average kitchen renovations job costs approximately $26,000, you do not want to make the wrong choice with regard to kitchen designer. One option is Kitchen Capital, which has played a role in some of the finest kitchens Perth has to offer. They have a team of experienced kitchen designers and cabinet makers and will spend time getting to know your wants and needs.

Bathroom Renovations

While kitchen renovations often receive ample attention in the home renovations game, another meaningful contender is the bathroom. Given the functionality of the room, it is important that any bathroom be designed to account for a variety of factors. Elements such as moisture and humidity require considerations that may not be prime factors in other home renovations. Likewise, the delicate number of plumbing and fixtures presents additional challenges.

Bathroom renovations can be among the most expensive renovations in terms of cost per square metre: the average cost for bathroom renovations is between $15,000 to $25,000. However, the overall appeal that a bathroom renovation can add makes it worth the price tag for many (especially when balancing the offset in added value for the home itself).

Given that many prospective home buyers look at bathroom and kitchen renovations more than elsewhere, considering how best to renovate a bathroom is a worthwhile endeavour. Be sure to consider important factors such as overall space (do you really need a tub and shower?), flooring (natural tile, stone, or something else?) and modern fixtures. 

Attic & Loft Renovations

Some homes have a proverbial gold mine of value and appeal that they’re not even using! Attics and lofts are a prime example of space that can be renovated, improved or repurposed to add space, value and aesthetic charm to many homes.

Some homes may have small above-ceiling spaces that aren’t tall enough to be considered a proper attic. However, renovation projects can expand both the height and overall dimensions of these spaces, making them useful areas for storage, entertainment, bedrooms or whatever purpose you have in mind.

While you may require council permissions in order to embark on this particular renovation, the large amount of space can increase resale value and provide an expansion of functional living. 

There are many types of attic and loft renovation projects, which vary wildly in price. You could be looking at anywhere from $3000 to $10,000, depending on the complexity of the renovation. 

 Which Home Renovations Add the Most Value and Appeal?

Lighting Renovations

Lighting can make a huge difference in many aspects of life. For example, the quality and placement of lighting in media can completely change how people appear on camera. Likewise, the amount of natural sunlight a home receives can alter the need for heating and cooling costs, as well as impact individual moods. 

As such, it shouldn’t be surprising that lighting projects and renovations are in great demand currently. There are a wide variety of lighting renovations that home owners can pursue to increase street appeal and overall value. 

Perhaps one of the most popular renovations is the addition of one or more skylights in the home. These additions help bring natural light into any room in the home – they can even be combined with some of the aforementioned renovation projects to further enhance their appeal.

Other lighting-based renovations include expanding the number of standard windows in one or more rooms and/or adding brighter or more energy-efficient lighting fixtures in key rooms. It’s important to consider the impacts of lighting in any renovation project: click here to learn more about lighting considerations when renovating.

Additional Rooms

Many home renovations focus on improving or updating existing elements of the home. However, you shouldn’t let the existing elements limit your imagination in terms of what renovations are possible!

One type of home renovation that can add both value and appeal is the addition of one or more new rooms. It is natural for families to grow under their own roofs, with new additions to the family being a prime example. Likewise, a home with limited space may not be as desirable to as many prospective buyers on the market if their needs are for greater space.

Nevertheless, the addition of a new room is a relatively simple – but somewhat costly – affair. While you’ll almost certainly need council permissions to embark on this professional project, using the services of a qualified contractor can keep the project within relatively simple parameters. In many cases, the addition of a new room costs less than the same space as part of a full home purchase. This makes it quite desirable for those seeking to expand their space or enhance the resale value of their homes long-term.

 Which Home Renovations Add the Most Value and Appeal?

Street Appeal

Last but not least, it’s important to consider renovation projects that impact the exterior of the home as well. Thankfully, many of these individual projects are more affordable than interior renovations – which means homeowners can potentially invest in multiple renovations that add true street appeal.

Some common examples of exterior renovations include replacing an ageing entry door, upgrading an antiquated garage door, building a deck or patio, replacing any outdated exterior siding, and updating an old roof.  

Individually, these projects can cost anywhere from a few hundred to thousands of dollars. However – and especially for those seeking to sell their home in the near future – investing in these exterior improvements can immediately make a good impression on potential buyers. That of course can help reduce the amount of time it takes to sell your home, all the while recouping most, if not all, of these investments in the asking price.

It just goes to show that there are plenty of potential renovations that homeowners can consider. Whether you want to improve the selling potential of your home or just extract more appeal for yourself, these renovation projects are worthwhile contenders that’ll deliver those benefits.