Mortgage 101: Rooms That Have the Greatest Home Value

Posted by Laine Smith on 1/27/15 12:41 PM

Topics: Home Ownership

Not all rooms are created equal. When you are looking for worth and wondering where to start on home renovations, there are certain places that hold more worth than others. Taking advice from RealEstate.com and Bankrate, we have come up with a list to help you know which rooms in your home provide the most value and where renovations will have the greatest benefit.

Kitchen-Renovation

Kitchens

Kitchens are usually the rooms that tend to have the most value in your entire house and are considered to be the heart of the home. This is where people first gravitate to when they walk in the door and it is also where everyone tends to congregate in any gathering with friends and family. Open concept floor plans allow for great entertaining space to be able to converse with company, watch TV and while also cooking and taking care of host duties.

Anything you do to improve your kitchen will add value in the end. Painting the kitchen is always the first step, whether you are doing an entire remodel of the room or just a minor facelift. Replace old, tired flooring with hardwood, laminate or nice tile instead. Changing out the countertops from dated vinyl to granite or quartz will give a wow factor for anyone who comes into your kitchen.

New cabinetry, kitchen sink fixtures and updated lighting will all also add value. Replace the kitchen faucet set and door handles with a brushed nickel or silver, for a sleek appearance. Update traditional lighting fixtures with modern, more energy-efficient ones. If you're extra handy, you can even order your own replacement cabinet doors and install them yourself instead of having someone else do it.

Bathrooms

Besides the kitchen, bathrooms tend to be the second most valuable rooms in your home. Most newer homes tend to have equal numbers of bedrooms and bathrooms to provide easier bathroom sharing. Counter space, faucet fixtures, shower/tub configurations and tiling tend to be what most people are concerned with when looking at bathrooms.

Remodeling your bathroom can also be done without a lot of money. Small things like a new toilet seat and a pedestal sink are pretty easy for homeowners to install but still make a vast difference in the look of the bathroom. Like with the kitchen, replace outdated flooring with stone tiles or even tiles that look like actual hard wood for more appeal.

You can replace grimy tubs and showers by re-grouting and replacing any broken tiles. For a greater cover-up, you can purchase a prefabricated tub and shower surround. These single-piece units might require installation by a professional, but they can still be cheaper than paying to re-do everything. If it is in your budget to completely renovate a bathroom, choose tile that is easy to clean and use a grout that contains midewcide.

Basements

Where basements can be great unfinished for additional storage space, a finished room actually adds usable square footage to your home. Transforming an unfinished basement into a functioning, attractive space is one of the best ways to increase your home’s value.

There are various different directions you can choose to go in when deciding to renovate your basement.  Adding sports memorabilia, big, comfy couches and a big screen TV is great if you want that quintessential “man cave” or sports den. For maximum entertainment space, add accoutrements like hardwood floors, a pool table, wet bar and a poker table for the ultimate party room. If you want space for the kiddos, try a children’s play area with a playset, bright furniture, arts and crafts stations and storage for all their toys and books.

Outdoor Space & Entry Ways

While not really a room, a nicely mowed lawn, some well-positioned plants and trees, as well as a tidied pathway makes a great first impression. If you don’t really have a green thumb then consider hiring a professional landscaper to install new sod, plant shrubs or flowers and give your yard a good cleaning. Not only will your neighbors love you, but when people first come to your home their perception on your home’s worth is instantly much higher.

Front-Door-Entryway-Designs1

According to Remodeling Magazine, consider replacing your garage door, siding, front door and windows when looking at improving the exterior of your home. These kinds of replacement projects will give you more added value than remodeling projects. For example, the average ROI on replacing garage doors, siding, front doors and windows is almost 72%!

Give the impression to newcomers that your house is a solid home before they even enter the inside with a well-built front door and sturdy lock-and-handle set. Replacing a current flimsy lock set and painting/staining existing doors are great renovation tips to sprucing up the look of the entry to your home.

Sometimes it seems that there is no end to the home renovation projects you want to do, but this list should at least give you a good start to knowing where to prioritize and begin with the jobs that will be the most valuable in the long run.

Please feel free to share this post and leave comments or, for more tips, check out our Rehab & Construction Guide or Pinterest Page to see more!

Download: Rehab & Construction Guide

Images courtesy of JT Construction and Vectron Studios

 

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