Two homes can look very much the same from the outside, be in the same neighborhood, and have similar amounts of air-conditioned square footage, and yet one will bring a better selling price than the other based on its amenities. This is true even though an appraisal might have the two houses valued about the same. Houses sell based on what purchasers are willing to pay, and that is why small remodeling projects can make a big difference when a home is marketed.
What Homebuyer’s Consider Important
Bathrooms and kitchens are at the top of the list when buyers are touring homes for sale. While it may not make or break a deal, the homes with the best interior finish-outs have a much better opportunity of being sold than those in need of remodeling work.
Even for homeowners who do not want to sell their homes, bathroom remodeling adds comfort and aesthetic appeal. It is also a way to upgrade to more modern and functional fixtures, make better use of space, and update cabinets and countertops. This is one reason why many homeowners place bathroom remodeling at the top of the list when they want to improve their living space.
Bathroom Remodeling On A Budget
Remodeling the master bathroom doesn’t necessarily need to be a major undertaking. Needless to say, demolition, enlarging the room, and rearranging all the bathroom fixtures is more costly than simply removing fixtures and installing new ones. Plus, new wall and floor treatments can be a relatively inexpensive update. If replacing the countertops with something more elegant, like granite, is a priority, shop the surplus stores for smaller pieces so you’re not investing in an entire slab. Since bathroom countertops tend to be smaller surface areas buying an entire slab of granite would only generate additional waste.
Similarly, remodeling the kitchen space doesn’t need to be an arduous endeavor either. Changing the cabinet hardware and adding a glaze to the finish on the cabinets (as pictured here) can give the kitchen a more contemporary look without a lot of coin. If you do choose to “go for the gusto” with granite, buy it direct and then hire a fabricator to finish and install it. That’s the most economical way to go.
When Less Is More: Reducing Your Utility Bills
Another valued remodeling trend is toward making a home more energy efficient. The value of these improvements is attributed to the cost savings on utilities, any available tax incentives, and the positive impact it has toward prospective buyers. New windows and doors can save on energy consumption as can upgrading to more efficient HVAC equipment. Simply making a building more airtight can save as much as 20% or more on heating and cooling bills. If you are looking to increase the value of your home in anticipation of selling it, remodeling to improve the home’s aesthetic appeal generally has more impact than energy efficiency upgrades. But, if you plan to continue to living in the house, it might be more gratifying to remodel elements that will pay for themselves through cost savings on utility bills.
Plus, increasing numbers of people are becoming more energy conscience and consider energy efficient home features a big plus when it comes to the value of a residence they are considering for purchase.