Your home is likely the largest asset you have. When you purchased it, you didn't just buy something, you made an investment in an appreciated asset; and just as with other investments, your goal should be to maximize the return.
In the case of you home, in most cases, it will naturally rise in value, but there are some things you can do to accelerate that appreciation, including certain types of remodeling.
Below are four types of major home remodeling known to increase the value of your home.
1. Adding a second story
Generally speaking, the larger a house is, the more it will be worth. So if you can make your house bigger, you've increased your net worth via your home. With that being said, what better way to nearly double the size of your home than by adding a second floor.
You may not be looking to sell your home now, but chances are you will one day. By adding a second story, you can demand a larger selling price in any real estate market simply because you've added more house to your home.
2. Redo your siding with Fiber-Cement (ie. HardiePlank)
Adding a second story is a great way to add a lot of new value to your home, but it can be costly. Another strategy to increase your home’s value that doesn’t quite as much as adding a second floor is to replace your siding with a fiber cement siding such as HardiePlank.
At Reliant Construction, we only use high quality brands and materials such as HardiePlank. It may not be the cheapest siding option, but a fiber-cement premium siding will resist rot and keep its color over time very well. So it is well worth the cost.
3. Significant Kitchen Remodeling
Very nice kitchens are one of the strongest selling points of homes. Many people, both men and women, take great pride in the quality of their kitchen. So a full kitchen remodel is a great way to increase your home’s value and to make it more attractive to buyers. Of course, you wouldn’t have to sell it immediately, so you and your family could enjoy your kitchen upgrade for yourselves for a while also.
A total kitchen remodel involves swapping out the kitchen appliances, the counters and everything else in there. For further customization and value, you may want to consider high end materials such as granite, Tuscan tile and stainless steel.
4. Build out a family room
Adding a family room to your home is less expensive than the other items mentioned in this article, but it is still a great value-adder for your home. The room would need electricity and AC, but you won’t need to invest into plumbing, tiling or high end fixtures (unless you wanted to). A family room is simply a room where the family can hang out. You can put a TV in there, games, bean bags, a dartboard or anything else that families do for fun. This extra room adds some square feet to your home, increasing its value, and making it more appealing to family who like to recreate in the home.
To learn more about Reliant Construction’s home remodeling services, click HERE or call us at 281-786-5199.