Renovations and Design Features to Increase Property Value

For many homeowners, the idea of a renovation is exciting—a chance to personalize their space and create the home of their dreams. But beyond personal satisfaction, strategic renovations can significantly increase your property's value. Not all improvements are created equal in terms of return on investment. This blog post will explore key areas for renovation and highlight design features that offer the most value when looking to enhance your property's worth.

Key Renovation Areas for Value Addition

When planning a renovation with an eye towards increasing property value, focus on areas that are most frequently used and visible to potential buyers.

Kitchens: Often considered the heart of the home, an updated kitchen can be a major selling point.

• Bathrooms: Modern, clean, and functional bathrooms are highly sought after.

• Basements/Attics: Finishing these spaces can add significant square footage and functionality.

• Exterior and Landscaping: First impressions matter! Curb appeal can greatly influence a buyer's perception.

Most Valuable Design Features

While trends come and go, some design features consistently add value due to their functionality, aesthetic appeal, and broad desirability.

Kitchens

When renovating your kitchen, prioritize functionality and a timeless aesthetic.

• Open Concept Layout: Creating a seamless flow between the kitchen, dining, and living areas makes a home feel larger and more sociable.

• Modern Appliances: Energy-efficient, stainless steel appliances are a standard expectation in updated homes.

• Durable Countertops: Quartz or granite countertops are popular choices for their longevity and sophisticated look.

• Ample Storage: Built-in pantries, clever cabinet solutions, and island storage are highly valued.

Bathrooms

Cleanliness, functionality, and a touch of luxury are key in bathroom renovations.

• Walk-in Showers: Especially in master bathrooms, a spacious walk-in shower with good water pressure is a desirable feature.

• Double Vanities: For shared bathrooms, double sinks offer convenience and appeal.

• Updated Fixtures: Modern faucets, showerheads, and lighting can instantly refresh a bathroom's look.

• Efficient Toilets: Low-flow or dual-flush toilets are environmentally friendly and can appeal to eco-conscious buyers.

Basements and Attics

Transforming unfinished spaces into functional living areas can dramatically increase your home's usable square footage and value.

• Additional Bedrooms/Bathrooms: Adding these can turn a two-bedroom home into a three-bedroom, significantly broadening its appeal.

• Recreational Rooms: A home theatre, gym, or play area adds a versatile living space.

• Proper Insulation and Ventilation: Ensuring these spaces are comfortable year-round is crucial for their functionality and appeal.

• Egress Windows (for Basements): Essential for safety and for legally counting basement rooms as bedrooms.
  Exterior and Landscaping

  The exterior of your home is the first thing a buyer sees.

  Well-Maintained Siding/Paint: A fresh coat of paint or updated siding can dramatically improve curb appeal.

  Inviting Entryway: A well-lit path, a welcoming front door, and potted plants can create a positive first impression.

  Low-Maintenance Landscaping: Attractive yet easy-to-care-for gardens are often preferred by busy homeowners.

  Outdoor Living Spaces: Decks, patios, or even a simple fire pit area can add significant value and appeal.

Important Considerations Before Renovating

• Budget: Set a realistic budget and stick to it. Overspending on renovations can negate the potential return on investment.

• Neighborhood Comparables: Research similar homes in your area. Over-improving for your neighborhood may not yield the desired return.

• Professional Help: For significant renovations, consider hiring experienced contractors and designers to ensure quality work and informed decisions.

• Permits: Always check with your local municipality for required permits before starting any major renovation project.

By focusing on these value-adding renovations and design features, you can enhance your living space for your enjoyment today and ensure a stronger return when it's time to sell.

Call Black Knight Capital or email us at diana@bkcapmortgage.com for a complimentary call for a Renovation and Design Mortgage Strategy.