There are many ways that homeowners try to make their homes more comfortable or suited to their personal tastes including the addition of certain luxuries, whether it be nice furniture or electronics, as well as home remodeling services to improve certain areas of the house. While adding luxuries to a home such as furniture, stereos, and theater systems is nice, this move rarely if ever adds anything to the value of your home. Remodeling work, however, does add value to your home as the results of the remodel will stay with the house to be used by future owners. Therefore, the best way to boost the value of your current home is with remodeling work.
Newly painted exterior of a North American home during summertime with green grass and flower beds
Home Theater Systems: Adding Entertainment, Not Value
The addition of a home theater system can be exciting as it will enhance the experience of watching sports, movies, TV, and listening to music, but it does not add to the value of the home. Some homeowners may hang on to the misconception that electronic amenities such as a new TV or stereo system improve the value of the home itself, but because these items usually move with the owner, they are not actually part of the house and therefore contribute very little to the overall value of the home. Of course, everyone has a right to buy what they want for their own homes to create a suitable living space, but it is important to know that stereo equipment and home entertainment systems are not effective investments in the value of your home.
Boosting the Value of Your Home with Remodeling Services
Most remodeling projects will yield some return on investment by adding to the value of a home but some add more value than others. According to remodeling.hw.net, the midrange remodeling projects that bring the highest return on investment are attic bedrooms, basement remodels, bathroom additions, bathroom remodels, deck additions, and entry door replacements. Midrange attic bedroom remodeling projects bring over a 77 percent return on investment, basement remodels are good for about a 72 percent return, and bathroom remodels can bring up to a 70 percent return on investment.
According to the same statistics, the top upscale remodeling projects for return on investment include bathroom addition, bathroom remodel, deck addition (composite), garage addition, garage door replacement, grand entrance, major kitchen remodel, and master suite addition. Garage door replacement can bring up to an 82 percent return on investment while upscale bathroom additions, bathroom remodels, and major kitchen remodels bring about a 59 percent return on investment. No matter how you look at it, remodeling projects are an investment in the value of your home while electronic amenities are an investment in your entertainment that does not add value to your home.
If you are considering any type of remodeling project for your home such as an addition or a full or partial remodel of your basement, bathroom, or kitchen, look into the potential return on investment that you can get in added value to your home for each project. Remodeling projects are often more expensive than home theater systems but the majority of the money spent on these projects will be recouped in added home value. Patrick A. Finn, Ltd. provides a variety of home remodeling services to the North Chicago suburbs such as home additions, bathroom remodeling, basement remodeling, and kitchen remodeling and we have won 12 awards for Excellence in Design and Construction from the Home Builders Association of Greater Chicago. You can contactus at (847) 358-4133 to learn more about our remodeling services.