Fire damage cleanup costs anywhere from $800-$93,000. The best way to increase the value of your home is to add space. Adding an extra bedroom will earn you the most money, adding roughly 8.8% to your home’s value. So what’s putting people off carrying out home improvements? Well, as you can probably guess, for the overwhelming majority (63 per cent), it’s a lack of funds. 17 per cent said they didn’t have enough time, and six per cent claimed their partner was holding them back.
High house prices, the hefty cost of moving home and the increase in stamp duty on more expensive homes are encouraging home owners to improve their homes rather than move. Recent research from Halifax Insurance found that planning applications have risen by a quarter in the last five years, and by as much as 60pc in London. Owners, on the other hand, usually take a less strategic method when sprucing up their houses. In an effort to assist avoiding bad surprises due to constructions and renovations, we are sustaining the following record of Japanese sightseeing spots that are at the moment (or have recently been) affected by major renovation or building works.
Before we look at which improvements are (and aren’t) worth making, let’s just consider why now may be a good time to take action. We may have reached the bottom in terms of value and with little construction over the last 5 years, demand is now starting to grow. With growth, buyers will have more choice and – naturally – will look for homes with the features they really want. By adding those features now you can ensure your property is more saleable – and more valuable – later. What’s more, even if prices stay static, you will still be better off. The right improvements will always add value.
An unfinished basement can save money on buying a house but a finished basement instantly adds value to the home. The amount of added useable square footage comes at a lower cost usually than an addition. Plus, the space can be reimagined for uses by the buyers. An extension can add more space to your property by either expanding a room or adding moer. Adding inexpensive new lighting fixtures in areas with a lot of visibility in the house can have a large impact on a home’s value,” says Shayanfekr. Adding a few sconces and possibly an inexpensive chandelier—something around the $300 price point—can make a huge difference in a hallway, living room, or kitchen,” he says.
Stay within the price range for similar homes. From a practical perspective, you shouldn’t expect to recover as much from improvements to a modestly priced home as you would for improvements to a high-end home. Spending $30,000 remodeling a kitchen with top-of-the-line appliances in a home that costs $150,000 won’t have nearly the return the same remodel would in a $500,000 home.