What renovations do not add value?

John Lewis %26 Partners (opens in new tab) recently surveyed 2,000 people to reveal that one in five people had reconfigured an existing open space to accommodate multiple activities throughout the day, such as working, exercising and studying at home. However, despite the high demand for storage, you can add 15% more to your property value with additional bedrooms compared to the extra closet space. The interior tends to get most of the attention during renovations, but what about the outside? Don't you think books are judged by their covers? The outside gives others a first impression and you'll never have a second chance to make a first impression. While this is true for many home improvement projects, it rarely increases the value as much as the cost of the project.

Some don't add value and some can lower the value compared to your home before you did the work. Any addition to the kitchen is likely to increase the value of your home, as many buyers use the kitchen as a litmus test to see whether or not they can see themselves in the house. Beyond the standard upgrades that an older home usually requires, such as upgrading the kitchen or removing a bathtub that has definitely seen better days, your home renovations will generally only improve value. Once you've narrowed down your list of renovations to those that will truly increase the value of your home, it's time to make room for renovations.

Costly home renovations, such as replacing outdated appliances with state-of-the-art appliances, can make your kitchen look great, but you probably won't get a good return on investment on this project. If you're renovating your home to put it on the market, it's probably best to try other renovations that are more likely to increase the value of your home.

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