What Value Does a Remodel Add to the Sale Price of a House?
There are several reasons homeowners consider remodeling their homes, including lifestyle enhancement, increased accessibility, or accommodating a growing family. What homeowners need to keep in the forefront of their minds is what will increase the sale price of a home when they finally decide to sell.
What increases home value the most?
According to the 2022 Cost vs. Value report bathrooms, kitchens and bedrooms see high investment returns when remodeled. Bathroom remodels usually increase a home’s sale by $15,990, almost 60% of the total project cost so you get to enjoy it AND increase the value of your home. Remodeled rooms see an ROI due in part to involving many products that strongly appeal to the client making the selections
When asking yourself, “What adds the most value to a house?,” flexible design should be top of mind. Lifestyle enhancement to a room and the ability to accommodate a growing family is highly valuable. Additional variables that influence an existing home’s sale price are the exterior condition, architectural features, and lot size. Resale value is an essential factor among many that a homeowner needs to take into account when remodeling.
Does renovating a home increase its value?
Due to the value of homes increasing, you may not be able to recover all of your home improvement dollars, but you are still adding to your home’s overall value while also enjoying those improvements. The value of a home renovation depends on various factors, including the condition of the whole house, the value of homes nearby, and the rate at which property values in the surrounding area fluctuate.
When it comes to home remodeling cost vs. value in Minnesota, the most important thing to consider is happiness. What makes you happy? What will make others feel happy and comfortable in the space? This attention to detail can only come from an in-house design-build team with decades of experience. Discover the potential of a home renovation with Ispiri. Whether you’re looking to stay or sell your Minnesota home, we’ll exceed your architectural and design expectations and add value to your house.
Considering a home renovation but unsure of what your next step should be? Get in touch with our team today to chat about our process and renovation ideas for your house!