When it comes time to renovate, remodel, or add an addition to your home, your primary motivation is likely to add space or function to your residence. When it comes time to sell, some changes add more value than others.
Which Home Additions Add the Most Value and Return on Investment:
Here is a guide to some home addition and remodel options that provide great return on investment for homeowners
According to HGTV, homeowners can expect to recoup between 80 to 130% of the cost of a bathroom addition. Homebuyers can be easily persuaded when they walk into a bright and airy bathroom with a walk-in shower, his-and-her sinks, stand-alone tub, and a modern and updated feel. Even aside from upgrades to the main bathroom, additional bathrooms can make all the difference when it’s time for buyers to put in an offer. If your home does not have a main floor bathroom, adding a powder room or half-bath can add a lot of value. Check out your floor plan and see if you can squeeze a bathroom addition into an underused space. If there is no extra space in your house, a full home addition is a great way to add room for a stunning additional bathroom.
You can expect to recoup 60-120% of the cost of your kitchen remodel when you sell your home. Potential homebuyers see an outdated kitchen as nothing but a headache and eyesore. You can impress
them with kitchen remodel changes as simple as a new coat of paint and brand new energy-efficient appliances. An entire kitchen remodel is a great idea, but be sure your updated design still meshes with the overall character of your home. A full home addition with a brand new kitchen will amaze potential homebuyers.
Finished BasementHomeowners can expect to recoup between 65 to 90% of the cost of a deck addition. Prospective buyers will be convinced by an outdoor rest and relaxation area, while you get to enjoy your backyard oasis in the meantime. Composite decks, which are made of a combination of wood and plastic, provide the best return on investment. Take your outdoor living space to the next level with built-in seats, a gourmet BBQ station, and charming lighting.
An average basement renovation is expected to return about 70-80% on investment. A finished basement is a great way to add functional and livable space to a home at a reasonable cost. You can add a guest suite in the basement, make a fun kids’ play area, simply add organized storage space, or build a decked-out man cave. No matter what you choose, a basement renovation is a great investment.
Full Home Addition
Full home additions are great ways to add plenty of value to your home. Especially if you live in a high-demand neighbourhood with smaller homes, the extra space can make your home very attractive to potential buyers. Whether you use the space as a family room, granny suite, relaxing sunroom, or expand on existing rooms like the kitchen, a full home addition will wow potential buyers.
These renovation, remodel, and full home addition ideas will transform your house in the short term and pay dividends when it comes time to resell your home down the road.