While our most common remodeling projects are fairly large in scope – in the form of meaningful expansions to living space or a truly transformative and full-home remodeling project – clients frequently DO want to know what home improvement projects will also improve resale value or curb appeal.
In fact, project cost compared to project outcomes is a common point of conversation for us when talking to prospective clients about renovating their existing space versus building new. Here’s what twenty years as a custom home builder and contractor has taught us about the home improvements with the biggest payoff: for your quality of life, curb appeal, and resale value.
Highlights
- We specialize in custom homes and renovations, generally working on larger projects like additions, master suites, new kitchens, new garages, and full-home renovations.
- When it comes to cost-effective home improvements, these all generally WILL increase home value, though they may not always be dollar-for-dollar immediately.
- More importantly, we generally caution clients to focus on how they’ll use their home and what they’ll love, rather than financial ROI. If you’re in a home for more than a decade, quality of life is a critical factor, and we advise building or renovating in a way that you’ll love.
Our Top Renovations For Enjoyment, Value, and Return on Investment
It’s worth establishing something up front in this conversation: Ironstone Homes is a custom home builder in Lancaster County, PA, and we’ve been building new homes and tackling larger renovation projects since 2005.
While we love helping homeowners and prospective homebuyers or builders turn their house into the home of their dreams, we mostly do larger home improvement projects. While a bathroom remodel might be a great way to upgrade your home, we primarily work on remodeling projects that touch more square footage: that could be through additions, additions & renovations, or simply more comprehensive interior remodeling. For that reason, I’ll mostly focus this article on the kinds of larger and more custom renovations that we do most frequently!
And… Return on Investment Isn’t Always About Dollars and Cents
One other point: as custom homer builders, we know first-hand that ROI isn’t just about average cost or how to boost home prices.
Working with dozens of clients over the years has helped us understand that it’s really about the enjoyment and love of your home. If you plan to be in your home for more than a decade, working hard to save money by skipping amenities may turn out to be a regret for years to come.
If a renovation is important to how you use and enjoy your home, and you have the means to make it happen, go for it!
Alright, let’s jump in.
Kitchen Renovations
From a home value perspective, a stylish, updated and modern kitchen is one of the most attractive features for potential buyers and for your resale value, often providing a high return on investment.
Because the kitchen is often the heart of a home, it’s also one of the absolute best home improvements for quality of life – particularly if your current kitchen is significantly dated. Why? A modern kitchen makes cooking and entertaining more enjoyable AND more efficient, enhancing functionality with better storage solutions, improved lighting, upgraded appliances, improved energy efficiency, and the list goes on.
If you’re never experienced a modern kitchen with soft-close cabinets and other modern amenities… trust me – this one is a no-brainer for your tired out kitchen. And, kitchen renovations can be as involved or simple as you like: a complete demolition and rebuild (new custom cabinets, appliances, flooring, new windows, etc.) or small updates, like replacing countertops, hardware, and energy efficient windows can both move the needle on your home enjoyment.
“Upgrading to energy-efficient models for appliances can lead to significant energy savings and potential rebates, making them an appealing choice for buyers looking to realize some immediate cost-savings.”
– Trevor Eby, Ironstone Homes Founder
Master Bed and Bath Additions or Renovations
The addition of a master suite is a great way to create a feeling of sanctuary that enhances your daily living experience, particularly for smaller homes with limited square footage currently, and especially for parents of small kids.
Our master bedroom and bathroom additions or renovations are designed to create a luxurious and private retreat within your home. We have experience expanding bedrooms, adding walk-in closets, and upgrading or adding bathroom with double vanities, soaking tubs, and spacious showers. These improvements will all significantly boost your quality of life by offering a comfortable and serene space to relax and unwind.
From a financial standpoint, a well-designed master suite addition or renovation project is a highly desirable feature that can substantially increase your home’s market value, often making it an excellent investment if you have the space and means.
Great Room or Living Room Additions
Who doesn’t want high-quality entertaining space?
Great room or living room additions are excellent for creating large, open space that can combine the functions of a living room, dining room, bathrooms or storage, and sometimes a kitchen. Since they tend to be larger additions, we love that they create opportunity for other uses while they add square footage.
Modern, more open-concept designs improve the flow of your home, making it feel larger and more inviting.
Garage Additions with Bonus Rooms
If you don’t have an attached garage currently, building a garage is a fantastic way to create more storage on your property, improve convenience (imagine carrying groceries right into your kitchen), while opening opportunities for bonus rooms on the second floor above your new garage. Your bonus room can be used as a home office, guest suite, or entertainment area, adding flexibility to your living arrangements.
Financially, this addition increases home value by adding both functional garage space and versatile living areas, which are attractive features for potential buyers.
Outdoor Living Spaces
Creating outdoor living spaces such as decks, patios, or outdoor kitchens extends your home’s living area into the outdoors – for use and beauty. These spaces are perfect for relaxing, dining, and entertaining, often with lower costs than similar upgrades (in terms of square foot of space) to indoor equivalents.
We’ve heard from clients time and time again that a comfortable and stylish area to unwind and host gatherings has been invaluable, whether that’s a new composite deck or an expansive outdoor patio and kitchen. Today, outdoor living spaces are highly sought after by buyers who appreciate the added functionality and aesthetic appeal, often resulting in a higher market value when you go to sell.
Comprehensive Home Interior Renovations
Old farmhouses and 60’s-era ranchers are everywhere in Central PA, where we operate. And a total overhaul is often what our clients are looking for to take their home up a level.
A comprehensive home interior renovation can involve all sorts of aspects: flooring, lighting, moving or removing walls, additions, kitchens, bathrooms, and more. Whatever the scope, our goal is to help you turn your home into a cohesive and comfortable living space for the modern family.
The best part? Starting over from scratch creates the opportunity to make a house truly yours: functionality, aesthetics, and comfort.
From a financial standpoint, a thoroughly updated interior won’t always provide day-one ROI on the price, but it will definitely provide a more enjoyable lifestyle.
So, Where to Begin?
For inspiration – in both cost, outcomes, and LOOKS – pictures and stories are a great starting point.
- Ask your friends for their advice on renovating! What have other recent home buyers experienced, what have costs been like, and what do your family/friends also value most in their home?
- Pick up a remodeling magazine or check out publications and examples from suppliers in the remodeling industry (all free!), like paint stores, home improvement stores, or even from groups like the National Association of the Remodeling Industry (NARI) for some ideas.
- Remodeling companies, ourselves included, provide free consultations and estimates for projects like the above. We can provide references, examples for inspiration, and help you come up with a rough project budget before you make any major decisions.
Get In Touch for a Free Conversation!
Have questions about a new home build, renovations, or addition you’re considering? Give us a call to schedule a free in-person consultation. My team is dedicated to transparency, great communication, and outcomes that will transform how you use your home.
FAQs
What’s the best way to pay for home renovations?
While budget is a significant part of the conversation with our clients, we don’t get too far into the weeds of HOW our customers are paying for their upgrades or new homes. Home equity loans are a common approach, which usually have locked interest rates, or home equity lines of credit (HELOC), which generally have a floating interest rate. A home loan will usually have lower interest rates. Our new home-builders also access building loans from banks, which can be turned into a traditional mortgage later.