Increasing Your Home Value: Top Renovations in SWFL
Boost Your Home Value With the Best Renovations for 2024
If you’re looking to boost your home value in 2024, you’re in the right place. Our comprehensive chart outlines the most effective strategies tailored to the SW Florida market. Whether you’re looking to sell your home or simply enhance your living space, these insights will guide you in making informed decisions that align with our area’s unique preferences and trends.
Explore how these strategic improvements can elevate both your property’s value and your overall quality of life in sunny Southwest Florida.
Adding A Pool
Will it add value?
Long Term Value - Only In-Ground Pools
Adding an in-ground pool can boost the value of your home by around 7%. Pool homes are highly desirable in SWFL and a key selling feature to any listing.
Costs Vs. Additional Home Value
Initial Installation: $65,000 - $70,000
Ongoing Monthly Expenses: $80 - $200 month
Added Value to Home: Add 7% to home value
*This would increase a $400,000 home's value by $28,000
Adding A Bedroom
Will it add home value?
Long Term Value - Yes
Adding a bedroom by increasing the square footage of your home can increase the value of your home between $30k - $50k per additional bedroom.
Cost vs Additional Home Value
Bedroom Addition Cost:
Added Value to Home:
Remodeling Your Kitchen
Will it add home value?
Long Term Value - Yes
New appliances, countertops and cabinet replacement can add 4.8% to your home value. Kitchens can be deal-breakers when it comes to selling and you'll enjoy the remodel immediately!
If you're working on a limited budget you can choose elements to "refresh" instead of replacing, like repainting cabinets and choosing new handles instead of a full cabinet replacement.
Cost vs Additional Home Value
Kitchen Remodel Cost: $14,000 - $40,000
Added Value to Home: $20,000 - $50,000
Adding A FENCE
Will it add value?
Long Term Value - With Proper Upkeep
A privacy fence adds the most value, when compared to other types of fencing. Cast iron, polyvinyl and wooden fences can often bring an ROI of 50% or more when the home is sold.
Be sure your property or back yard is completely fenced in, and your fence is properly maintained.
Cost vs Additional Home Value
Wooden Fence Installation Cost: $3000 - $10,000
Added Value to Home: $5,000 - $15,000
Adding Hardwood Floors
Will it add value?
Long Term Value - Yes
Hardwood floors remain synonymous with quality, lasting through trends and style changes. According to the 2022 Remodeling Impact Report from the National Association of Realtors, installing hardwood floors recovers almost 120% of the project cost, so it is a smart move that will immediately change the entire ambiance of your home.
Cost vs Additional Home Value
Kitchen Remodel Cost: $14,000 - $40,000
Added Value to Home: $20,000 - $50,000
Best Home Improvement Loans
The best home improvement loans will provide you with the means to cover expenses related to home renovations and repairs without dipping into your savings. You can use this type of loan to undertake various projects, whether it’s remodeling your kitchen, adding an in-ground swimming pool, or addressing essential roof repairs.
Home improvement loans stand out for their flexibility, as they typically do not require you to pledge your home as collateral. Additionally, they often feature expedited funding processes, making them a convenient choice. To make the most informed decision for your project and financial circumstances, it’s wise to compare offers from multiple lenders.
Top home improvement loan options include:
- SoFi – Ideal for joint loans.
- LightStream – Offers extended repayment terms.
- Upgrade – Provides credit-building tools.
- Best Egg – A great choice for secured loans.
- Discover – Especially suitable for borrowers with excellent credit.
- Wells Fargo – Particularly advantageous for existing bank customers.
- Rocket Loans – Known for swift approval processes.
- Navy Federal – An excellent option for credit union members.
These reputable lenders offer diverse solutions to cater to your specific needs and preferences when embarking on home improvement projects.
Investing Questions?
Are you ready to begin (or continue) your investment journey?
Contact me today! I’m here for you every step of the way.
