A lot of people get excited at the idea of a home renovation. They have grand ideas of how they want their home to look. But one thing to keep in mind is how those ideas will affect your home’s value once it comes time to sell after a tenure of nine years, according to the National Association of REALTORS®.

It’s important that you do some research before committing to any home renovation project. A good place to start is with a cost versus value report. The report is based on information gathered from real estate agents and RemodelMAX, an online remodelers estimator tool. It will will help you outline the average cost, resale value, and cost recouped for a number of home renovation projects, providing both national and regional estimates. City estimates are also available, but you have to register to access these reports.

To help you determine what renovation projects could add value to your home, here are seven renovations that are worth considering:

Bathroom

When renovating a bathroom there is no need to go overboard with a complete overhaul. In fact, according to Remodeling’s 2016 Cost vs. Value Report simple low-cost renovations on average yield a 10% higher return on investment compared to upscale renovations. Instead, consider adding new light fixtures and some paint to revitalise your bathroom.

Kitchen

According to the Consumer Reports National Research Center, 53% of real estate professionals believe that the kitchen is one of the most important rooms to prepare before putting your home on the market, so this isn’t a room that you want to ignore. However, the national average for a minor kitchen renovation is likely to set you back $20,122 with a resale value of $16,716. Since you’re only likely to recoup 80% of the cost, be sure to consider minor repairs and a gentle spruce up before undertaking any major kitchen renovations.

Income Suite

One of the most direct ways of adding value to a home is to have an income suite. Whether you have a beautifully finished basement or an attic/apartment living space, having the option for a tenant (or even just a guest room), will no doubt boost your value.

Make A Good First Impression

First impressions count and they also generate a higher return on investment. Entry and garage door improvements feature near the top of the Cost vs. Value rankings, so if your entrance way  looks a little dated this may be a good place to start.

Energy Efficient Windows

The real estate world continues to go green, so the more energy efficient your home is, the better. Energy Star claims that adding Energy Star-rated windows can save you up to $500 a year. If your windows look like they’re from the 1970s, it could turn off potential buyers.

Energy Efficient Insulation

Attic insulation has the highest return on investment of any project listed on the 2016 Cost vs. Value Report, with a 116.9% return on investment. If your attic lacks proper insulation, the average cost of installation is estimated at $1,268 with a resale value of $1,482.

Do some research before making any major renovations and you’ll be more likely to make decisions that will pay off when it comes time to sell.

A unique home in the Spring Garden section of Nutley. This wonderful 3BR/2.2 Bath Tudor-style home has large rooms, and is situated in a very convenient location to NYC, bus major highways and local restaurants and shopping. Home has a recently updated chef's kitchen with granite counters and stainless steel appliances, formal Dining Room, Living Room with a wood-burning fireplace, and a finished basement with with a summer kitchen that can also be used as an in-law suite. This home offers a unique master bedroom suite, a private backyard for entertaining, and a large driveway that can park 4-5 cars. Home also includes a walk-up attic with another guest bedroom.

FOR MORE INFO CONTACT:
Carmela Pereira
Realty Executive Elite Homes
973.580.1991
carmelapereira@realtyexecutives.com

232 High St. Nutley

Totally updated 3BR/2BA cape in the Spring Garden section of Nutley. New kitchen with granite counters and stainless steel appliances, hardwood floors throughout, open floor plan, finished full basement, and large yard with paver patio. Walk to NYC bus, close to restaurants, shopping and schools. Message me for more details or a showing!

Carmela Pereira

Realty Executive Elite Homes Nutley

973.580.1991

JUST SOLD! I'd like to congratulate my sellers Stacie & Rick on the sale of their home in Sparta. This transaction had its ups and downs, but we finally got the deal done and house sold. In the end, everyone was pleased with the outcome. If you or someone you know needs to sell your home, let's get together and talk soon!

About Sparta
parta Township is a thriving community situated in rural Sussex County, New Jersey approximately 45 miles northwest of New York City. Sparta covers more than 38 square miles with rolling hills, beautiful lakes, picturesque farms, and inviting residential developments.

Sparta has 11 private lake communities; the largest of which is Lake Mohawk. The Lake Mohawk Boardwalk and Plaza are listed on the State and National Historic Registers.

Sparta was organized as a township by an act of the New Jersey Legislature on April 14, 1845 from portions of Byram Township, Frankford Township, Hardyston Township and (the now-defunct) Newton Township. The township was named after the existing community of Sparta, which had been settled and named years before, the name likely coming from Sparta, Greece. Ogdensburg Borough was incorporated on February 26, 1914, when it separated from Sparta Township.

The Lenape Native Americans occupied the land at the time of its discovery by European colonists. Early Dutch explorers and traders discovered red ores in the area and attempted to mine them as early as 1750, but were unsuccessful in their mistaken attempts to extract copper from the ores. No permanent settlers arrived until 1778, when Robert Ogden built his home and constructed an iron forge on lands he had acquired. The first public building in Sparta was the Presbyterian Church which was incorporated in 1786. Schools were established in Ogdensburg by 1806 and in Sparta by 1812.

Iron, zinc, and limestone supported a mining industry for over 100 years, but today the mining operations have ceased and the township is now a residential community served by retail, professional, and service small businesses.