Hey everyone! My husband and I are thinking about a renovation for our home that includes installing a gas fireplace and built-in shelves. The estimate for this project is around $15,000. While we're okay spending this money, it would really help if we knew whether this improvement would actually add to the property value. Currently, we have a plain wall with two small windows, which we plan to remove for the new features. What do you all think? Would this renovation make our home worth more? Thanks in advance for your insights!
3 Answers
Keep in mind that the return on investment for renovations can vary. While it will make your space cozier and might help with selling, you probably won't see a full $15k added to your home's value. Just make sure it fits well with your home's style!
It might help with selling, but if you’re looking for an increase in appraisal value, this probably isn’t the way to go. Factors like location and size matter much more when it comes to value.
Honestly, short answer is no, it won't add much value, if any. Even if it makes your home more appealing to buyers, it won't necessarily reflect in an appraisal. You might get a quicker sale, but don’t expect a dollar-for-dollar return on your investment.