Does remodeling increase property value? Top 4 remodels that add property value

Does remodeling increase property value? Top 4 remodels that add property value

When it comes right down to it, justifying the expense of a remodel could be a sore point, even with yourself. One of the ways you can do that is by looking at how much return you’ll get for your investment. In addition to the more practical ROI of having a renovated bathroom or kitchen to enjoy, some remodeling projects in Virginia add more property value than others.

The cash return on your investment when you sell your property later is never as high as the amount that you spent on the remodel. When getting a loan to cover home or office improvements, the amount you are able to borrow is largely affected by how much the property will sell for once the remodeling is complete. This is usually calculated as a percentage of the amount spent on the remodel.

If you’re looking for ways to increase your property value, there are a few items that are going to do you the most good. If, however, you simply need that remodel, the financial ROI when you eventually sell, refinance, or obtain additional mortgages is just a bonus.

What 4 remodeling projects in Virginia add the most property value?

Remodeling can increase property values for both residential and commercial properties. For the most part, the ROI for both is about the same. In this section we will focus on residential remodeling projects and their corresponding property value increases.

What is the ROI on a mid-range kitchen remodel in Arlington?

A mid-range kitchen remodel is likely to increase your property value by up to 50-60% of the cost of the remodel. Higher-end kitchens actually have a lower ROI on average. If you’re looking at an industrial or commercial kitchen, you are probably looking at more like 45% of the cost of the renovations.

If your kitchen is out of date or just falling apart, remodeling the area to work better for you and your household is important. You can keep your budget reasonable and your ROI high by working with an experienced kitchen remodeling contractor in Virginia like Cosmo Builders. We are able to help you make logical decisions about the remodel so you get the most benefit now and in the future.

What is the ROI on a mid-range bathroom remodel in Fairfax?

A mid-range bathroom remodel will increase property values by as much as 60-70% once the remodel is complete. Bathroom remodels can actually add more property value depending on what you include. If you’re making a handicap accessible bathroom, you could be adding more like 70-80% of the remodel costs to the property value of your home.
A bathroom remodel is actually one of the least expensive remodeling projects to have done on your home in Virginia, but it is the easiest to design in a way that will give you the highest ROI possible while making the bathroom the perfect fit for you and your family.

What is the ROI on energy efficiency remodels in Northern Virginia?

The highest return on investment of all remodeling projects is improving the energy efficiency of the property. A home that saves $1,000 per year on utilities will bring up to $9,000 more to the sale price. Replacing everything with energy-saving appliances is a good first step, but it isn’t the only way you can improve the energy efficiency of your home or office in Northern Virginia.
You can remodel your home to be more energy efficient by:

1. Replace your windows with multi-pane, easy-to-clean, high-performance insulated windows. Make sure they are professionally installed and sealed by an experienced window installer in Virginia like Cosmo Builders. The better windows don’t help if they aren’t installed correctly.
2. Replace your exterior and intermediary doors with more insulated options. The door frame itself may even need to be rebuilt to ensure that the doors are sealing properly. As houses settle, door and window frames can need repair.
3. Install new flooring. If your carpets are threadbare and the carpet pads are nonexistent, replacing your flooring can help reduce the need for higher energy expenditures.

Most of these things can be done as a part of a larger remodeling project, such as when you get a kitchen, bathroom, or office remodel in Virginia.
How much property value does an add-on for an accessory dwelling unit add?
Often called a “mother-in-law apartment,” an accessory dwelling unit sell for 35% more than homes without them. Whatever you call these adjacent but separate living quarters, they are handy for all types of situations, including:

• Helping a family member get on their feet.
• Keeping a close eye on aging or ailing family members without taking away their independence.
• Giving an older teen a place to call their own while they build credit and career.
• Allowing an adult child to move back home to get on their feet.

Even if a home buyer has no immediate use for the mother-in-law apartment, they will be willing to pay more to be able to have it later. In the meantime, adjacent living quarters can be rented out through platforms like Airbnb or through average rental agreements.

Remodeling projects that add commercial property value in Virginia

The same remodeling projects that add value to residential property also ads value to commercial properties. There are some ways that you can take advantage of these and other commercial renovations to improve your space, boost employee morale, and add value to your commercial or office property when you are ready to sell.

Commercial bathroom renovations in Virginia yield the highest ROI for commercial property value

Whereas residential bathroom remodels only give you up to 68% ROI, the average commercial or industrial bathroom yields returns of up to 80% when those same improvements are made to commercial bathrooms, particularly when you order and install high-quality stalls and amenities.
Cosmo Builders can help you design the perfect bathrooms for your commercial or retail space. We can also build fitting rooms, and install security doors to limit access.

Provide more amenities for your employees

There are two ways you could help your employees be happier and more productive – remodel some wellness rooms or plan a kitchen remodel for your office space. When your employees have access to even a partial kitchen, they are able to bring food from home that is both healthier and less expensive. Being able to bring food from home also allows your employees to enjoy more of their break, instead of spending most of that time getting food.
Wellness rooms is a fairly new concept, but it is one that should be considered. You can make use of small, unused space in your retail establishment or office by making small rooms where your employees can go to be alone. Especially when working with the public, jobs can be stressful and everyone needs that moment to themselves. Wellness rooms are designed to give your employees that needed moment.

Adding living quarters to a retail or office space

f you own your own retail or office space, and your commercial property is also zoned for residential, you can add on living quarters in much the same way as you would add on a mother-in-law apartment. You have to make sure that you’re property is zoned to be used as either or both purposes. If it isn’t, you might be able to obtain an exception from your local zoning authority. Cosmo Builders can help you with that process.

Adding on the living quarters adds at least as much value to a commercial property as it does to a home. For small business owners struggling to make ends meet in this economy, building living quarters onto an already owned commercial property can be very appealing.

Ready to order your commercial or residential remodeling project in Virginia or Washington DC?

Cosmo Builders is here waiting to handle all aspects of your residential or commercial remodeling project in Northern Virginia. Contact us today, or click here to learn more about the full scope of services that we offer during your remodeling project, from design to finishing touches.