Under Construction: The Best Renovations You Can Add to Make Your Home More Valuable
Whether you are thinking of selling your home in a few years, or you are simply eager to spruce up the place, renovating your house is a great way to add value and appeal to your humble abode. However, certain renovations add more value than others, so if you are simply looking to increase your property value, it pays to know where to start. Here are some of the best renovations you can do to increase your home's value.
Invest in Open Concept Architecture
Open concept designs are a hot item in home architecture, and for good reason. An open concept home offers a lot of space and has few interior walls to block incoming light. Essentially, an open concept layout means your main common areas — the kitchen, living room, and dining room — share the same four walls. In an open concept home, nothing separates these three rooms. The resulting effect is that the living space appears larger and brighter. Open concept homes are also great for entertaining, as you can converse with your guests in the living room while you are in the kitchen preparing a meal. The appeal of open concept means prospective buyers will want to spend time in your home.
The Kitchen Is Your Home's Heart and Soul
Most families spend a great deal of time in the kitchen, whether cooking, eating, cleaning, or socializing. Thus, when homebuyers go house hunting, the first room they inspect is the kitchen. Upgrading your kitchen can go a long way towards increasing your property value. Switching to stainless steel appliances and granite countertops can give your kitchen a modern look that buyers will love, and installing an island can add valuable functionality and counter space.
Make Your House Energy Efficient
As energy costs continue to climb, renovations that focus solely on improving energy efficiency are becoming more and more common. If you have an energy efficient house, you directly increase your home's value by reducing your monthly electricity bill. Energy efficiency renovations are also a great way to help the environment, and the government recognizes this by offering renovation tax credits and rebates for families who invest in energy efficiency upgrades. For instance, homeowners who install energy efficient windows can receive a tax credit worth thirty percent of the renovation. This thirty percent tax credit also applies if you install energy efficient interior lighting, an energy efficient hot water system, or a solar heating system. As these renovations all result in a lower utility bill for the owner, they directly increase your home's value.
These are the three best renovations that you can do to improve your Louisville home's value. Open concept architecture is a popular option that will add space and light to your house. Upgrading your kitchen by adding granite countertops, stainless steel appliances, and an island can create great functionality and style. Finally, making your house energy efficient will reduce your utility bill and make you eligible for tax credits, which can mean more money in your pocket. When looking to sell your home, these great renovations will leave potential buyers with the right impression and result in higher offers.
About the Author: Joe Hayden is the Team Owner and Manager of the Joe Hayden Real Estate Team - Your Louisville Real Estate Experts!