Your luxury home is not just a place to live, it’s an opportunity waiting to be tapped. For the homeowners in the Denver Metro area, the difference between a house that makes an impressive real estate offer versus an extraordinary one lies in a carefully executed remodeling strategy.
Renovating your home is not just about staying in vogue or adding aesthetic appeal. Rather, it’s about investing in remodels that enhance the functionality, increase the efficiency, and amplify the luxury of your home — all of which directly translate into increased resale value.
In Denver’s thriving and competitive real estate market for luxury homes, strategic upgrades can set your property apart, swinging your house from “considering” to “must-have” for potential buyers. Whether updating the kitchen to an open design or transforming your master suite, every remodeled corner of your luxury home is an opportunity to maximize returns on your investment.
Here are some things to consider when remodeling to increase the resale value of your home.
Areas of the Home to Focus on for Remodeling
The kitchen is where family and friends usually end up congregating, so it makes sense to upgrade that space for both functionality and elegance. Kitchen remodels with contemporary designs and high-end appliances can dramatically increase your home’s appeal.
Luxurious spa-style bathrooms are one of the biggest recent trends we’ve seen lately. The little things add up to create that luxury feel, like a rainfall shower, towel warmer, heated floor, floating extra-long counters. While you’re at it, why not throw in a built-in minibar next to your oversized claw-foot soaker tub?
The Return on Investment of Various Remodeling Projects
According to a top real estate agent in Colorado, homeowners can see 60% or more return on investment with a kitchen remodel. Bathrooms are also a significant consideration for potential home buyers. A full bathroom remodel can deliver up to 58% return on what you spend on the renovations.
Bigger projects like a pop top or other home addition can add significant value to your home as they increase curb appeal and add square footage.
Tips for a Successful Remodeling Project
The difference between a dream remodel and a construction nightmare can come down to hiring a reputable contractor who fits your needs. You’ll need to time your remodel wisely, considering factors like market conditions. This is where working with a Design-Build firm can make a significant difference. With a Design-Build approach, the contractor can help mitigate changes in cost of materials and labor and take local market influences into account.
While you want to create a space you love, keep in mind that your remodeling decisions should align with the preferences and expectations of potential luxury buyers in the Denver market. Quality over quantity rings true in remodeling: a few well-executed, larger upgrades often yield higher returns than numerous minor ones.
A strategic approach to remodeling your home is the key to unlock the full potential of your luxury property. A well-planned, professionally executed remodel not only enhances your living experience, but also adds significant value when it’s time to sell.
Now that you’re equipped with insights to increase your home’s resale value, it’s time to get your remodeling project underway.
Get inspired by some of the remodeling projects Truth Design Build has completed or reach out today to discuss how we can make your luxury home remodeling experience as seamless and rewarding as possible.