Making home improvements for your family’s greater comfort is wonderful. And when that improvement also increases your house’s value? Better yet! Most renovations – and especially additions – increase your house’s value when time comes to resell it (hey, you never know). And this is especially true in North Virginia. Remodel magazine is appropriately enough a recognized authority on remodeling. Every year it releases a Cost vs. Value report. We took a look at the 2016 edition and found some valuable improvements North Virginians can make today to increase the value of your home.
For example, adding a new family room is great for growing families. And it’s a great bonus that this addition’s improvement to your home’s value pays for 68% of the family room’s cost. The addition of a second story also pays for 68% of its cost. Similarly, a master suite addition pays for itself 66%. And the addition of a deck pays for a whopping 80.2% of its cost.
It’s not all about percentages, though. For example, the addition of a bathroom increases your house’s value by only 57.8% of the bathroom’s cost. At the same time, an extra bathroom is such a huge benefit to those who need to use it that it’s overall value should never be underestimated. Anyone with a big family (or relatives coming over) can testify to the value of an extra bathroom. Moving beyond additions, a minor kitchen remodel pays for 86.9% of its cost (in addition to making every meal more special). Just the remodeling of your bathroom pays for itself over 70%. And the way old bathrooms get moldy, a remodel is always a great idea. And that basement remodel you’ve been putting on hold forever? Maybe a 73.5% cost recovery will get you to finally make a cozy living space out of that old basement.
Among the many reasons why it’s so great to live in Northern Virginia is that the value of every home improvement in the South Atlantic is higher than the national average. So see which renovations catch your eye here or (if you already have something in mind) get a free consultation.