All the discussion about the hot housing market is causing homeowners to put more thought into the value of their existing homes. Even if you are not considering a sale of your Magnolia real estate, the current low-interest rates create an opportunity to add value to your home. Investing in your home is a terrific strategy but it’s essential you choose the right upgrades to be strategic.
Simple upgrades can create dramatic changes. The layout of your kitchen is critical to the flow of traffic in your home, and if it's working and you just need stylistic upgrades, keep it as is. Resurfacing cabinets, adding new hardware, changing out your sink or faucet, adding a backsplash, and installing new lighting fixtures can add style and function to the space. In addition, these are typically lower-cost items with a return of approximately 80% when you sell your home.
Gutting the kitchen is a big step but you could be rewarded with the kitchen of your dreams and realize an 80% - 85% return on your investment. Change the layout, install high-end appliances, remove walls to create an open concept – or add walls to close it in, and install the perfect island. If you are living in the home, be prepared to have things turned upside down for the duration of the project. A temporary kitchen may offer a solution to lessen the challenges of this upgrade.
Roof repairs and replacements
A leaky roof could wreak havoc on a household, ruining prized items, floors, cabinets, and anything the water or snow could drip onto. Replacing a roof can be an expensive project but homeowners will be rewarded with almost a 100% return on the investment. Today, there are a large variety of roofing options available adding style, function, and sustainability to the home. Sustainable roof panels offering solar energy could not only add value to the home but also decrease energy costs.
Installing new garage doors
Hidden upgrades help the environment
Additionally, outdoor lighting adds warmth, security, and function to your outdoor space while planting a few trees in your yard creates natural shade and an ideal place to hang a hammock. Work with a landscape designer or your local nursery to ensure you select trees best suited for your property. To truly go all out, designing and constructing the perfect outdoor kitchen with comfortable seating will make your yard the envy of any future buyers.
Adding square footage
Bump out the kitchen to gain a walk-in pantry
Add on a four-season room to enjoy nature year-round
Convert the basement to living space for a growing family’s needs
Having communal spaces functional for everyone in the family adds value beyond dollars. Providing an energy-efficient home lowers the property’s impact on the environment and your annual utility costs. If you want to learn about more remodels which will increase your home’s property value or about Magnolia real estate, please don’t hesitate to reach out to trusted agents at The Mr. Magnolia Team for expert guidance.