Ready to Renovate? Here’s Why it Makes “Cents”

Outdoor living spaces continue to rank among the most desirable features that homeowners want to upgrade. And those renovations can also add some real value to your home.

Experts say a wood deck addition can return nearly 95% of its cost at resale, while composite decks can return close to 89%. Expanding usable living space with patios and outdoor gathering areas are also super attractive to homeowners.

People are really looking for functional, comfortable spaces these days that will improve everyday living. And that’s why renovations of decks, patios, porches, basements, and entertainment areas can make such a major impact on both your lifestyle and your home’s value.

Putting money aside for a moment – these renovation projects also increase homeowner enjoyment. A recent report from the National Association of Realtors and the National Association of the Remodeling Industry found that homeowners consistently report high satisfaction and “joy scores” after completing remodeling projects that improve comfort and entertainment space.

Covered porches, fire pit areas, and renovated lower levels have become especially popular as more homeowners look to maximize every part of their property. And who doesn’t want an amazing outdoor kitchen! You’ll be the toast of the neighborhood with one of those beautiful stone grills and elaborate eating areas.

But if you don’t want to go all in on a project like that – think about smaller renovations like improved lighting, built-in seating, updated flooring, and weather-resistant materials. They can all dramatically improve both appearance and functionality.

How about the ever-popular man-cave or she-shed? Both spaces can be a smart investment. Create a space for a home theater, sports lounge, game room, crafting room, or family entertainment space. You can really add functionality without requiring new construction.

According to opendoor.com, basement remodels can recoup roughly 70% of their cost while also increasing buyer interest in competitive markets. Experts in home renovation trends continue to say that buyers are prioritizing homes with flexible gathering spaces for family and friends.

When you’re ready to transform your home with a custom renovation project, chat with our experts at the Davenport Building Company. We have 70 years of experience building Cape Cod — from outdoor living upgrades to basement remodels and complete home improvements. Let us bring your vision to life while adding long-term value to your property.