3 Renovations Could Add $20K to the Value of This House

kitchen before and after

The reasons behind home renovation vary – sometimes it’s an issue of aesthetics, like creating the bathroom you’ve dreamed of since those communal bathrooms, dorm room days you’d like to forget. Other times, it’s a matter of getting the most money for your home when you sell. And in some cases, it’s that something is broken and desperately needs to be fixed. Reasons aside, one commonality exists among all renovation projects – they change the value of a home, and knowing whether that’s a good or bad thing before walls start coming down and floors start coming up can help any homeowner make smart home improvement decisions. Take this Mountain View, California, home for example. Three simple renovations – a kitchen, a bathroom, and a hallway – could add more than $20K to its value. See how we found that out, and check out the before pictures along with the renders of what these spaces could look like after a little TLC.

Details of the House

Listed price: $1,198,000

Bedrooms: 3

Bathrooms: 1.5

Square footage: 1,100

Lot size: 6,083 sq.ft

Year built: 1950

Kukun’s Personalized Estimate feature makes it easy to find out what your specific project will cost, with 29 different project types to choose from, three finish level options for each part of your project (from HVAC to paint), and options for a partial room renovation.

Hallway Renovation

For this house’s hallway renovation, the following information was used:

  • Overall renovation level: Best
  • Remodel (as opposed to an addition, which increases the square footage of a home)
  • Small size (5’x20′ = 100 sq.ft.), no room increase

Finish levels:

  • Demolition: Better
  • Electrical: Better
  • Lighting: Best
  • HVAC: Better
  • Drywall: Good
  • Paint: Best
  • Flooring: Good
  • Trim: Best

Once a personalized renovation cost estimate is complete, Kukun’s Projected Home Value tool quickly calculates that project’s return on investment. Here’s how the numbers shook out for this project:

  • Estimated cost: $3,900
  • Estimated equity gain: $5,850

All of this info was sent to a professional renderer, who did some visual magic to create “after” images of the three projects estimated for this property (check out those beautiful built-ins!).

Before renovation:

Hallway before renovation

 

After renovation:

hallway with wood floors after renovation

Image Credits: Arq. Maria Gabriela Saldivia

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Kitchen renovation

The kitchen is next up, with the following information used for the renovation cost and ROI estimates:

  • Overall renovation level: Better
  • Remodel
  • Medium size (10’x14′), no room increase

Finish levels:

  • Demolition: Good
  • Plumbing: Good
  • Plumbing fixtures: Best
  • Electrical: Good
  • Lighting: Better
  • HVAC: Good
  • Drywall: Good
  • Paint: Better
  • Countertops & cabinets: Best
  • Flooring: Better
  • Trim: Good

Estimated cost: $14,600

Estimated equity gain: $12,400

Before renovation:

Kitchen before renovation

After renovation:

kitchen renovation after

Image credits: Arq. Maria Gabriela Saldivia

Bedroom renovation

Last, but definitely not least, one of the house’s three bedrooms also received a light virtual makeover.

  • Overall renovation level: Good
  • Remodel
  • Medium size (12’x14′ = 168 sq.ft.), no room increase

Finish levels:

  • Demolition: Good
  • Electrical: Good
  • Lighting: Good
  • HVAC: Good
  • Drywall: Good
  • Paint: Better
  • Flooring: Better
  • Trim: Good

Estimated cost: $2,730

Estimated equity gain: $2,040

Before renovation:

Bedroom renovation before

 

After renovation:

Bedroom renovation after

Image Credits: Arq. Maria Gabriela Saldivia

All of these numbers come out to a total estimated cost of $21,200, with an estimated equity gain of $20,290. The house originally listed for $1,198,000, and after these three virtual renovations, it’s valued at $1,239,000. Sure, it’s not an exact science, but Kukun’s patent-pending algorithms take a number of factors into account and use data sets for each geographic area to be at least 80% accurate. With this knowledge, homeowners can easily see how a higher-end faucet, less-fancy paint, and other finish levels can help them make the most of their budget, and see how those projects alter the value of what is often a person’s biggest investment – a home.

3 Renovations Could Add $20K to the Value of This House was last modified: July 18th, 2017 by Kukun staff
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