Which home renovation projects will add value?

Home renovations go through trends the same as clothing, hair styles and home color palettes. Since 2017, the overarching trend has been open concept layouts, white shaker cabinetry and grey color palettes. When you plan on renovating your home to sell it, make sure you research what is on trend at the time. All of the home renovation shows are easy access places for buyers and sellers to see what's popular. So, you may not like one big room or gray walls but if that is what's trending and you want to sell fast, it's better to save your style for your new home.

Whether you choose to renovate on trend or blaze a new trend, when it comes to renovating your home, it's impossible to not ask yourself, "will this project add value to my home?" Knowing which projects will have a return on your investment, truly is the best place to start. Kitchens and baths are obvious choices and will not only add value to your home, but if not current, will surely detract from the value of your home when placed on the market.

Let's talk about the areas that will improve your ROI.

Hardwood floors, engineered hardwoods, tile or even stained concrete, anything but carpet. These days, especially now amid Covid-19 and the need for the ability to sterilize, carpet is a pretty big turn off. Exchanging out carpet for a more sterile alternative will not only improve your homes value, but allow you comfort knowing that your floors are clean.

Multiple rooms, rather than an open concept, as is the case in many Richardson homes, will lower the value of your home in this market. Removing walls to covert common areas into one large space is all the rage and will surely increase your homes value. The cost to do this varies based on whether or not the walls to be removed are load bearing.

Adding square footage to your home will obviously add value, but how and where to add can be confusing. Depending on your lot, you may be able to add by going out into the back yard or even side yard. City code will determine if you have the room. The next most logical area is to add on top of your existing home. The main difference between the two from a construction standpoint will be tearing the roof off your existing home and the addition of stairs. Two things going out will avoid.

The third and very popular addition is to go over your existing garage. When your garage is attached, this isn't much different than going over your house, except, the garage is not living space so it is left invasive. When your garage is detached, you have the choice of creating an air conditioned breezeway to connect the house to the garage and new living space above. Or, you can add above the garage as a separate in-law space or game room for the kids.

Check out Houzz.com for some wonderful ideas, and if you are ready to explore your options, contact us to arrange for an on-site estimate.