Renovations that add value
When starting a new project at home, it can be challenging to determine which spaces to prioritize. Consider asking yourself a few questions: Where does my family spend the most time together? What home renovation project would be most beneficial for us? By focusing on areas of the home that offer significant utility and functionality to your family, you can make smart investments while also adding value to your property. Here are three family-centric renovation ideas that are both practical and can enhance your home's value.
Primary Bedroom/Bathroom
Popularized after World War II, the importance of the primary bedroom has continued to rise. Prior to the war, most people lived in cities or rural ranch homes, which lacked what we now see as the traditional type of primary bedroom (formerly called the "master bedroom"). Following the war, the growth of the middle class and the expansion of suburbia sparked the beginning of the primary bedroom trend.
Typically the largest bedroom and bathroom in the home, the primary bedroom is usually occupied by the homeowners. It has evolved from being located on the second floor to the first floor, to accommodate the fact that people are staying in their homes longer as they age. Another incentive for having the primary bedroom on the first floor (or just a bedroom in general) is its potential to increase resale value. A first-floor bedroom appeals to buyers and homeowners with aging family members or those considering the future.
Here are some ideas to enhance home value and give the primary bedroom a refreshed, updated feel.
One great design feature that can completely change the way a room feels are cathedral ceilings, which can give the room a bigger, more open feel. These types of ceilings can also improve air flow and ventilation, and are a relatively simple design feature which most buyers are willing to pay extra for.
Update the color scheme of the room, going for timeless color combinations to avoid having to repaint if colors become tacky or outdated, or just don’t match what you were going for. In a similar sense, adding accents within the room also keeps the room from being too “boring” and makes the house flow better as a whole.
Adding in a skylight can also bring in a lot of natural light that can make the room feel more open, while also acting as a “wow” factor within the room, increasing value.
Finally, including an attached primary bathroom, gives a feeling of ease and luxury and adds value as home buyers are willing to pay for the ease and comfort of having an attached bathroom.
Kitchens
The average ROI for remodeling kitchens in the USA is between 50% and 71% (according to Remodeling Magazine's 2022 Cost vs. Value Report.) This can be translated into a 4% - 6% increase on the value of your home. In addition, new appliances not only appeals to any future buyers, but also makes the kitchen a focal point of the home.
When focusing on family-centric design, kitchens often become a focal point in the design process, serving as a unifying space for the family. There are many different ways to renovate your kitchen, ranging from big to small projects and varying price points. Potential renovations may include:
Including an island. The inclusion of an island in your kitchen (space allowing) makes the center of the kitchen a gathering point for entertaining and for the day to day living routine.
Updating your cabinetry. Picking cabinets that are more simple and neutral can add a timeless feel in the kitchen, giving it a sleek clean look and feel, as opposed to cabinetry that is overbearing or loud.
Changing hardware and layering lighting can also add to the elegance of a kitchen, making it more likely to be a focal point in the home. In many cases, this brings the highest return in terms of look and feel in addition to adding more value to the effort the change requires.
Coordinating appliances and picking timeless design trends that will not feel out of date or tacky in the years following its installation will also help with the longevity of build and renovation. For example, picking a subway tile backsplash, which has been “trendy” for a few years now, will continue being on trend and something that will not feel garish as time passes.
Having a good architect and a good designer when it comes to kitchens is key to increasing return and for the longevity of the project. It helps having a timeless kitchen that will still match your original design intentions in a few years which ensure a smaller necessity for renovation.
Mudrooms
Believe it or not, these days, one of the most sought after renovations are mudrooms, which are a space set aside in the front of the home, typically serving as a type of second entrance. In this space, sports equipment can be stored, any jackets or outer clothes can be removed, keeping the rest of the home cleaner than if dirt and muck was tracked in.
Mudrooms not only add value to homes but also increase functionality, especially as younger family units purchase homes. Essentially, mudrooms are a key design element of family-centric homes, aiming to contain the mess and clutter associated with young children. With a mudroom, your house can be better organized, and messes can be more contained. Simultaneously, it provides a space to use as a 'launchpad' before exiting the home, particularly useful for households with young kids and pets prone to making messes.
Mudrooms serve a crucial role in the home, offering added functionality while also increasing value. This makes a mudroom a smart investment, whether as a renovation or part of the original design plans. Homes with mudrooms hold significant appeal to potential buyers, making them more inclined to purchase or make offers on a home with one compared to those without. Some individuals may even purchase newly built homes without mudrooms and renovate to include one due to their popularity. A mudroom addition can significantly increase resale value and attract a greater number of potential buyers, particularly families with children.
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