Ways to help add value to your home
Check out some ways to add value to your home, whether you are looking to stay and upgrade or enhance and sell.
Even if you don’t think about them as investments in the future value of your home, these home renovations and upgrades can still help make your home more attractive, comfortable and efficient.
Remodel your kitchen
A minor kitchen makeover, like updating cabinets and replacing older appliances with new, more energy-efficient models, often has a higher return on investment (ROI) than a complete overhaul. Even a single upgrade, such as adding granite, quartz or other high-quality countertops, can potentially yield more resale value than the cost of the materials and labor.
Add or upgrade a bathroom
Adding a bathroom in homes where the number of bathrooms is lacking can be a smart strategy. If that’s not possible, replacing outdated fixtures, tiles and lighting can help boost the overall value of your home.
You might want to tackle some of these bathroom renovations on your own and others may call for the services of a professional. Read more about when to DIY and when to go pro.
Spruce up the outside
First impressions matter. Increase the curb appeal of your home with upgrades such as refreshed landscaping, fresh paint, new siding or an attractive front door. These updates can often recoup a substantial portion of their cost. Decks and patios tend to be sought-after amenities and can help enhance your home’s desirability when it’s on the market.
Create more space
Consider utilizing every square foot by turning unused areas such as attics and basements into livable spaces. Adding a bedroom or expanding the primary living area can pay off when it comes time to sell.
Buyers frequently look for energy-efficient homes with better insulation and a heat pump for heating and cooling. Depending on the location of your home, solar installations can offer energy savings and be a major selling point. Another useful idea is to make your windows energy efficient, keeping your home warmer in winter and cooler in summer.
Modernize the interior of your home
Modern lighting can brighten and help make spaces more attractive. New knobs, handles and faucets can subtly enhance the aesthetic of a room at relatively little cost.
Refreshing walls with neutral shades can enhance the perceived value and enable potential buyers to visualize their own belongings in the space.
Make your home smarter
Explore ways to create value with the use of smart home technology. Smart thermostats, Wi-Fi controlled lighting and digital security systems can help make a property more appealing to tech-savvy buyers.
Consider local market trends and consult with experts to understand which improvements are most valued in your area. Remember that while some renovations can significantly increase value, others might be more about personal enjoyment and utility during your time in your home.
Need more room in your home? Check out our article on micro-dwellings to learn about ways to add value and space to your home.