Are you considering renovating your house this year? In 2023, more than 33% of American homeowners completed domestic remodeling procedures. Statistics also indicate that homeowners invest in a renovation project every three to five years.
Cape Cod reports that one of the benefits of these renovations is that your house becomes more valuable. If you live in Irvine, California, you should know that the median value of a property in your city is $900,700. However, certain upgrades to your home can easily increase the market value.
Home renovation experts discourage homeowners from investing in money-losing remodeling projects. For example, adding a sunroom may not increase your property’s value because people in the greater LA area tend to enjoy the weather outside.
Also, refrain from adding wall-to-wall carpeting as it will likely decrease your property’s value; residents in Irvine prefer tiles, hardwood, or laminated floors. Instead, focus on the upgrades mentioned below to increase your home’s value:
One of the simplest methods of increasing your property’s value is to repaint the walls in a more appealing shade. Taking the DIY route can be 60% cheaper than hiring professionals, but professionals are more likely to do a better job. And since you’ll be recovering this money when reselling the property, you’ll end up making more.
California’s water supply is affected by both the dry and hot weather and some community water systems not meeting regulatory standards. This can lead to several plumbing issues in homes throughout the state, especially in cities like Irvine located in the dryer areas.
Hence ensuring your home has good plumbing can increase its value. You can look for an emergency plumber Irvine CA online and have your home checked for clogs, leaks, broken pipes, etc.
Be sure to invest in proper filtration systems in case the water supply to your home has minerals that damage pipes and faucets. Plumbing-related projects can easily add to the value of your house. Some sources claim that these upgrades promise a 260% ROI.
Realtors have observed that, on average, homes in Irvine with epoxy floors cost $1.4 million. These floors are durable, easy to clean, not difficult to maintain, very aesthetically appealing, and resistant to fire. Epoxy flooring can cost you anything between $3 to $12 per square foot, including materials and labor. Consult an expert to identify whether you should redo certain areas or the entire home, what colors to choose, and how to get the best bang for your buck.
As per Redfin, there are four Irvine homes with a front porch on sale right now, and they are valued at an average of $1.4 million. A well-kept front porch, especially one adorned with flowers help improve the property’s curb appeal. It creates a positive first impression on potential buyers, and a place with a front porch easily becomes “hot” on the market. So, don’t forget to add this feature to your property if you can.
It’s a no-brainer that kitchen renovations are some of the most profitable remodeling projects homeowners should invest in before selling their house. Consider the following eye-opening statistics from Zillow’s site:
You can update the kitchen’s design, add more cabinets, refurbish the flooring, and install other lucrative features, such as new appliances.
As per a 2020 survey, bathroom renovations promise a 60% ROI; if you spend $10,000+ on remodeling your bathroom, you get $6,000 back when reselling the house, which is excellent for Californian residents.
You can complete a bathroom renovation in Irvine between $4,000 and $14,000 or higher if you aim for something more luxe. So, replace the oldvanity with a more modern design, upgrade the lighting fixtures, and replace the old flooring. Consider changing the shower and toilet fixtures too.
A house’s roof can take a significant beating by the weather over the years, so upgrading it before you intend to sell the property can help you get a better price. Some easy ways to care for your roof involve cleaning the gutters and ensuringthe roof is properly ventilated/insulated.
Moreover, update the roofing material; choose one with a good warranty and a longer lifespan. As per the NARI’s 2019 Remodeling Impact Report, replacing your roof gives you a 107% ROI when reselling.
For Irvine residents, a 5KW solar system is enough for the entire house’s electricity needs. Since one-fourth of Californian homes have solar panels installed, this could be a nice bonus potential might be interested in. Adding solar panels to your home can easily bump its market value by an additional $20,000.
Refurbished doors draw every eye to your property and enhance its curb appeal. This includes both the garage door and the door to the house. Experts believe remodeled doors promise an ROI of 97%, so don’t hesitate to spend on the entrance to your property. Ensure the main and garage doors are sturdy, functional, secure, and colored properly.
Irvine, CA, can be windy, dusty, dry, and all sorts of bad weather for your interior. But you can make your house dust-free, noise-resistant, and more valuable by updating damagedwindows. Installing better windows can reduce allergens and fewer the chances of UV rays harming residents’ well-being. New windows will also enhance the property’s curb appeal with a 72% ROI. Don’t forget to add some brightly-colored shutters and flowered puts for decoration.
Conclusion
Not every home remodeling project makes your property more valuable. Every region has its unique real estate trends, and Orange County isn’t an exception.
If you’re living in Irvine, complete the following remodeling ideas to help you increase your home’s market value. Be sure to call in the pros for the best results and check in with local authorities for permits.