Best Home Improvement Projects That Add Value in Virginia
The recent housing crisis has put existing homeowners at a significant advantage. If you are a homeowner, you might have wondered how much your home is worth and if you could sell it for more than your initial loan. With the current housing market, the average price of a home has increased by 88% within the last decade. It is likely that the cost of your home now exceeds the amount of your original investment.
Additionally, home renovation projects can further the value of your home leaving homeowners in an enviable position. Whether you are renovating your home for long-term comfort or putting it back on the market, the enhancements you choose can affect your home’s value and how you enjoy your living space. At Foster Remodeling, we are equipped with the expertise and knowledge of the Virginian housing market to guide homeowners toward the most beneficial decisions. Here are some remodeling projects that ensure the highest return on investment for years to come.
Kitchen Remodel
Remodeling your kitchen is a great way to boost your home’s value since it is arguably the most important room in the house. Try adding new appliances, backsplashes, countertops, or custom cabinets with functional storage. Even small changes can make a big difference, making your kitchen more appealing and useful. A well-placed island can add valuable counter space, storage, and seating to your kitchen, making it more versatile and user-friendly.
In Virginia, common styles that are sure to catch buyers’ eyes are colonial, farmhouse chic, and modern styles. When it comes to remodeling for resale, it is best to avoid bold colors and designs, and too much wallpaper can bring down resale value. Choosing a contemporary design will appeal to a larger audience of potential buyers, offering a fresh and modern aesthetic that aligns with current trends and preferences.
Update Your Bathroom
Bathroom remodels have one of the highest return on investments of most remodeling projects and is a surefire way to bring up your property value. If you’re on a budget, even minor cosmetic changes, such as freshening up the paint, redoing the tiles, getting a larger vanity or adding brighter lighting can improve the aesthetic. When it comes to bathroom renovations, it is important to keep designs universal to appeal to a wider target audience in Virginia.
Additionally, as the population ages, accessibility features in bathrooms are becoming increasingly important to homeowners and buyers alike. Switching out the tub with a walk-in shower, installing grab bars, and wider doorways can make your home more appealing to those who would like to age in place or have disabilities. These features improve functionality and demonstrate a forward-thinking approach to home design.
In-Law Suites
An in-law suite is similar to a small apartment attached or situated into a larger home, while still having its own kitchen, bathroom, living area and entrances. In-law suites are becoming more popular with multigenerational living and they are not limited to grandparents. With rental inflation and getting priced out of the market with homes, many adult children are choosing to live with their parents.
With multigenerational living on the rise, adding an in-law suite can significantly increase your home’s marketability and value. These additions offer private living spaces for family members or potential rental income, making them a highly desirable feature in today’s market. In Virginia, where family values run deep, an in-law suite can be a major selling point.
Deck, Patio, or Porch Additions
When individuals and families start their homebuying journey, they may envision becoming the host of lively parties or intimate gatherings, especially during the summer months. Outdoor living spaces are highly valued in Virginia, especially given the state’s beautiful landscapes and generally mild climate. Adding a deck, patio, or porch can extend your living space outdoors, providing an ideal setting for relaxation and entertainment. These additions not only enhance the enjoyment of your home but also attract potential buyers looking for that perfect indoor-outdoor flow.
In summary, the addition of a deck, patio, or porch in Virginia homes is more than a mere architectural feature; it’s a lifestyle enhancement and a strategic investment. These spaces not only serve as personal retreats and entertainment hubs but also significantly contribute to the overall appeal and marketability of a home.
Considerations Before Renovating
Renovating your home is an excellent strategy for keeping your property up-to-date and maximizing its market value. However, to navigate this process successfully and make the most out of your investment, careful planning and consideration are essential. Here are some considerations before you dive into your renovation project:
- ROI: If you are remodeling for resale, it is imperative to consider the current value of your home and how much renovations will increase property value.
- Budget: Set a realistic budget with a contingency fund for unexpected expenses.
- Permits: Ensure that all necessary permits are obtained to avoid any legal issues down the line.
- Professional Help: If you live in Virginia, Foster Remodeling can help you take out the guesswork. Hiring reputable contractors can save time and ensure quality workmanship. A DIY project gone wrong will lessen the appeal of your home and cost more to fix in the long run.
Schedule Your Next Home Renovation
Whether you’re updating the kitchen, making your bathroom more accessible, adding an in-law suite, or enhancing your outdoor living space, these projects can offer great returns. In Virginia’s competitive housing market, thoughtful renovations can make your home stand out and provide substantial financial and personal rewards. Contact Foster Remodeling for your next home remodeling project!
