image credit: John Hoey
Every homeowner is concerned with the value of their home. It is likely your most valuable asset, and you want to make sure that you are maximizing it’s monetary value.
There are many ways to increase the value of your home. But what areas in the home should you focus on to get more bang for your buck? Some projects recoup more of the cost than others.
Using the research and statistics from Remodeling Magazine’s 2014 Cost vs Value Report, here are 5 projects that add value to your home…
Add An Attic Bedroom
If your home has an attic, then finishing it to include a functional bedroom can add some serious value. Approximately 84% of the cost for this project is recouped by the homeowner.
Basement Remodel
Home buyers love space. Take your unfinished or outdated basement and give it a clean and modern design. Homeowners that renovated their basements added 77% of the costs to the value of their home.
Bathroom Addition
Keeping with the more space theme…adding a full bathroom can help to add value to your home. Creating a new bathroom makes your house more functional and can add several thousand dollars in real value. Roughly 60% of the cost can be recouped.
Deck Addition
Adding value to your home includes the exterior as well. Building a deck increases the overall functionality and adds more usable space to your home. How much value added can depend on the materials used:
Composite – 74% of the cost recouped
Wood – 87% of the cost recouped
Entry Door Replacement
Replacing or upgrading your front entry door can go a long way to improve your curb appeal and add value to your home. Value added depends on the type of door chosen:
Fiberglass – 71% of the cost recouped
Steel – 97% of the cost recouped
Want to know the value of your home? Click here…