Making home improvements is a great way to increase the value of your property. Whether you’re looking to sell or just want to improve your living space, there are certain upgrades that can add more value than others. From small-scale repairs and updates to large-scale renovations, here are some of the best home improvements that will give you a return on your investment.
For small-scale repairs and updates, focus on improving the curb appeal of your property. Upgrading old windows, siding, and doors will instantly give your home a fresh look. Smaller touches such as landscaping, pressure washing, and painting can also help to make your home stand out from the rest.
Another great way to add value is by renovating the interior of your home. Adding an extra bedroom or bathroom, remodeling your kitchen, and updating fixtures and appliances are some of the most cost-effective improvements you can make. Homebuyers also tend to appreciate more modern features such as energy-efficient windows, solar panels, and smart home technology that help lower utility costs.
If you’re looking to make more significant changes, consider converting an attic or garage into a new living space. This type of renovation can be expensive but will add a considerable amount of value to your home, especially if you choose to rent it out. Similarly, adding a deck, patio, or outdoor living area can be a great way to boost your home’s value.
When it comes to home improvements, there are plenty of upgrades that can add value. From smaller repairs and updates to larger renovations, consider the return on investment before deciding which improvements make the most sense for you and your budget. With the right planning, you can create an inviting and valuable space that you’ll love coming home to.
Home improvement and remodeling
Home improvement and remodeling projects can add significant value to a home, both in terms of functionality and resale value. However, not all home improvements are created equal when it comes to adding value. Here are some of the top home improvements that can increase the value of your property:
1) Kitchen Remodel: The kitchen is often considered the heart of the home, and as such, it is one of the most important rooms in terms of resale value. A minor kitchen remodel can have an average return on investment (ROI) of around 82%, while a major kitchen remodel can have an ROI of up to 91%. Upgrading appliances, countertops, cabinets, and flooring can all make a significant difference.
2) Bathroom Remodel: Bathroom remodels can also have a high ROI, with an average of around 70%. Upgrading fixtures, replacing a bathtub or shower, and updating tile and flooring can all make a big impact.
3) Outdoor Living Spaces: Outdoor living spaces, such as patios, decks, and outdoor kitchens, are becoming increasingly popular and can add value to a home. Adding a deck or patio can have an ROI of up to 90%, while an outdoor kitchen can have an ROI of around 71%.
4) Energy-Efficient Upgrades: Installing energy-efficient upgrades, such as new windows, insulation, and HVAC systems, can not only save money on energy bills but can also increase the value of a home. These upgrades typically have an ROI of around 70-80%.
5) Curb Appeal: First impressions are important when it comes to selling a home, so improving the curb appeal can be a wise investment. Projects such as adding a new front door, updating landscaping, and repainting the exterior can all improve a home’s curb appeal and increase its value.
Overall, home improvements and remodeling projects can be a worthwhile investment, especially when it comes to increasing the value of a property. However, it’s important to carefully consider which projects to tackle and to budget accordingly to ensure a good return on investment.
Home Renovation
Home renovation refers to the process of improving or updating a home’s interior, exterior, or both. While there are countless ways to renovate a home, some upgrades add more value than others.
One of the most popular upgrades that can increase a home’s value is kitchen renovation. Upgrading appliances, countertops, and cabinetry can give your kitchen a modern look and make meal preparation more convenient. According to Remodeling Magazine’s 2021 Cost vs. Value Report, a minor kitchen renovation can have a return on investment (ROI) of over 72%, while a major kitchen remodels can yield an ROI of up to 61%.
Bathroom renovations can also add value to a home. Upgrading a bathroom’s fixtures, such as the toilet, sink, and shower, can increase the home’s appeal and functionality. Installing new tiles, a new bathtub, or a walk-in shower can also modernize the bathroom and improve its aesthetic. According to the same report, midrange bathroom remodels can have an ROI of almost 62%.
Another home renovation that can add value is a basement remodel. Finishing a basement can increase a home’s living space and provide an additional area for entertainment or storage. Adding a bedroom or bathroom to a basement can also increase a home’s value. The average ROI for a basement remodel is over 63%.
Finally, exterior upgrades such as landscaping, new siding, and a new roof can also increase a home’s value. Improving a home’s curb appeal can make it more attractive to potential buyers. Adding a new coat of paint or upgrading entry doors can also have a positive impact on a home’s value.
Overall, home renovation can be a smart investment for homeowners who want to improve their quality of life and increase the value of their homes. By focusing on upgrades that have a high ROI, homeowners can ensure that their renovations will pay off in the long run.
Home Remodeling
Home remodeling, if done correctly, can add significant value to your home. Some of the home improvements that add value include kitchen and bathroom renovations, adding extra living space or bedrooms, and improving the energy efficiency of your home.
Kitchen renovations are generally considered one of the most valuable improvements you can make to your home. According to Remodeling Magazine’s 2021 Cost vs. Value Report, a minor kitchen remodel costing around $26,000 can recoup about 72.2% of its cost at resale. A major kitchen remodels, which can cost around $75,000, can recoup around 57.1% of its cost.
Bathroom renovations are another popular home improvement project that can add value. According to the same report, a mid-range bathroom remodels costing around $28,000 can recoup around 60.1% of its cost at resale.
Adding extra living space by finishing a basement or adding a deck, can also add value to your home. According to HGTV, adding a deck can offer up to an 80% return on investment while finishing a basement can offer up to a 70% return on investment.
Lastly, improving your home’s energy efficiency can also add value. Upgrading to energy-efficient windows, adding insulation, or installing a smart thermostat can help save money on utility bills in the long run, while also increasing the value of your home.
It is important to note that not all home remodeling projects will add value to your home, and some may even decrease it. Consult with a professional before embarking on any major home improvements to ensure that you are making wise investment decisions.
