When renovating or remodeling your brownstone or town house in Jersey City, the question most homeowners ask is: “Will the money I’m spending increase my home’s value?” or, “Will I make this money back if I ever decide to sell?”.
There are many factors that lie between making updates that add instantaneous value and updates that provide absolutely no return on investment. For instance, installing a new roof, updating utilities, updating your heating and cooling system will not increase value. Landscaping and swimming pools are also upgrades that you should think twice about. While these items may be important to the overall condition and functionality of your home, it is highly unlikely to profit or make enough of a return with these upgrades. Instead, here are some remodeling enhancements that will automatically add value to your home:
Kitchens
- Kitchens are not cheap. Upgrading your kitchen will make for a more enjoyable and functional environment for you and your family. It will impress your guests. Above all, it will impress buyers in the event you ever decide to sell. Kitchen upgrades can be costly, overwhelming and can take a considerable amount of time to complete. Because of the work and expenses associated, upgraded kitchens can be very appealing to potential buyers. This is why Kitchens add value to your home.
Bathrooms
- The steps involved when renovating or remodeling a bathroom properly are extensive. For instance, there is rough plumbing work, finished plumbing work and waterproofing work. There is also cement board, drywall, lighting, vanities, fixtures, and tile material itself that all add up quickly. Subsequently, there is also the inconvenience of not being able to shower or take or bath when this work is being conducted. In short, bathroom remodels are expensive and can be a pain. This is why new updated bathrooms are very appealing to buyers and why it adds much value to a home.
Hardwood Flooring
- If you live in Jersey City, the chances are you live in an old brownstone or row house. Installing new hardwood flooring or refinishing your existing hardwood flooring can add tremendous value to your home. The amount of money you would spend on installing new wood floors or refinishing your existing wood floors is minimal when comparing to the amount it would cost to remodel a kitchen or bathroom. Not only is it the least expensive option, it is also the option that will deliver the best return on investment. If you are a homeowner looking to upgrade your home with a limited budget, installing new hardwood floors or refinishing existing hardwood floors is by far your best bet.
