Are you looking to increase your property value? Home improvements are a great way to add value to your home while also enhancing your quality of life. In this blog post, we will explore the top 10 home improvements that can increase your property value.

From kitchen and bathroom renovations to energy-efficient windows and curb appeal, these improvements can help you get the most out of your investment. Whether you’re planning to sell your home or simply want to enjoy it for years to come, these upgrades are worth considering. So let’s dive in and explore the possibilities.

Upgrade Your Kitchen

According to statistics, 80% of buyers consider a newly finished kitchen an essential factor when selecting and valuing a property.

The cost of a complete kitchen renovation can range from $4,500 to $60,000+, with the national average being $25,500. To save costs, consider doing some of the work yourself, like painting or demolition. By hiring contractors, you can expect reasonable pricing and quality work.

A mid-range kitchen makeover’s standard return on investment (ROI) is between 50% to 60% of the total budget. For instance, if you spent $69,000, you can expect to recoup around $34,500 to $41,400. A smaller kitchen upgrade can result in a higher estimated ROI of 75% to 80%, where spending around $24,000 will result in a recoup between $16,800 to $19,200. However, the expected ROI can be location-dependent, where living in the Pacific region can result in a recoup of 93%, while the national average is 68%.

Besides the financial impact of your kitchen renovation, you also need to consider the joy score it brings. On a scale from one to ten, most homeowners, remodelers, and prospective buyers rate a newly finished kitchen a steady 10 for satisfaction.

When renovating your kitchen on a budget, prioritize cabinet refacing and refinishing, updating kitchen countertops, installing a modern tile backsplash, investing in new kitchen appliances, and improving lighting fixtures. These updates can elevate your kitchen’s aesthetics and functionality without breaking the bank.

Bathroom Remodels

Consider renovating your bathroom! While there are plenty of home improvements that can bring a good return on investment, bathroom remodeling is one of the most significant. Here are some projects that can add value to your home while also improving your quality of life:

 

• Add a bathroom: Adding a bathroom to your home can have a significant impact on its value. It doesn’t have to be expensive either! If you’re planning a larger remodel, work a new bathroom into the project. You can also create a bathroom in an underused closet or space.
• Install a walk-in shower: Swapping out a bathtub for a walk-in shower can make your bathroom more functional and appealing to potential buyers. This project is also easy for DIY enthusiasts to tackle.
• Change the vanity: Upgrading your bathroom’s vanity can make it look more modern and sophisticated. You can also add a double sink to create a high-end look.
• Add mirrors: Installing larger mirrors can make your bathroom look bigger and brighter. It’s also a cost-effective upgrade that won’t break the bank.
• Refinish the bathtub: Refinishing your existing bathtub can be a great alternative to replacing it entirely. However, it’s important to ensure that the refinishing is done correctly to avoid negative ROI.
• Upgrade plumbing: Upgrading the plumbing in your bathroom can reduce the number of potential buyers who are scared off by bad plumbing. It can also make your bathroom more functional and enjoyable.
• Upgrade lighting: Adding more or better lighting to your bathroom can create a brighter, more inviting space. This is a simple upgrade that can make a big impact.

 

While remodeling your bathroom can be a significant investment, it’s one that can pay off in the long run by increasing your home’s value and your quality of life.

Energy-Efficient Windows

In regards to home improvement, it’s easy to get caught up in the excitement of visual transformations like a remodeled room. However, it’s important to remember that practical improvements can also provide a high return on investment, such as replacing your windows. While it may not be as visually noticeable, it can add significant value to your home.

Return on Investment

According to estimates, replacing your windows can offer up to an 85 percent return on investment, which is higher than other home renovation projects like a roof replacement or deck addition. However, it’s important to understand how to calculate your ROI to make informed decisions.

Quality

When considering the cost of window replacement, it can vary based on factors such as the type of frame material you choose and the window style. While selecting less expensive aluminum frames can save you money per window, more expensive fiberglass or wood frames can offer preferred features. Similarly, a standard size double hung window is more affordable, while a large picture window could cost more to install.

Energy Conservation

One of the major benefits of replacing your windows is the potential for energy savings. Energy-efficient windows can help reduce your utility bills and provide long-term savings. Depending on the climate of your home’s location, different energy-efficient options might be better suited for you. For example, ENERGY STAR windows are more beneficial in colder climates, while windows with low-emissivity coating are more effective in warmer climates.

It’s also worth exploring incentives and rebates in your area, as many local utility companies offer rebates for energy-efficient windows. Additionally, there are government incentives available for energy-efficient home improvements.

 

Curb Appeal

The first impression that your home makes when someone sees it from the curb is crucial. One of the simplest ways to create an attractive impression is through landscaping. The term “landscaping” may bring to mind grass and plants, but it also includes things like the facade of your house and the pathway leading to it.

Today’s home buyers want low-maintenance landscaping that’s effortlessly attractive. With that in mind, here are nine low-maintenance landscaping ideas and exterior home improvements that can help you succeed when it’s time to sell:

 

• Power wash your walkway and siding.
• Give your home a fresh coat of paint.
• Repair or replace your pathway.
• Check the status of your roof and gutters.
• Give your lawn some TLC.
• Choose an attractive mix of easy-maintenance landscaping.
• Add lighting for a dramatic effect.
• Create a focal point.
• Add some accessories.

A Fresh Coat of Paint

One of the most cost-effective ways of increasing the value of your home is to give it a fresh coat of paint. Painting the interior of your home has an impressive 107% return on investment (ROI), while painting the exterior leads to a 55% ROI. A 2012 HomeGain survey found that the average cost of painting the interior is $967, and it can increase your home’s value by $2,001. Painting the exterior costs on average $1,406 and can increase your home’s value by $2,176.

To make your home more appealing to potential buyers, it’s best to use warm neutral colors for the interior. Beiges, tans, golds, grays, and greige are good choices as they go well with any furniture style. Neutral colors also make it easier for buyers to imagine themselves living there. Paint types matter too! Fallyn Flaherty-Earp, a marketing manager for the Paint Quality Institute, recommends using flat or eggshell sheens on broad walls and semi-gloss sheens on trim and doors to make them easier to clean.

The exterior of your home is the first thing potential buyers will see. When painting the exterior, it’s best to stick to no more than three colors. Remember the 60-30-10 percentage rule. Sixty percent of the home’s exterior should be the body of the home, thirty percent is the garage doors and trim, and the final ten percent is the front and shutters, with just a pop of color.

Add a Deck

Adding features like a timber deck or stylish outdoor blinds can be a great way to add an extra selling point to your home. Buyers love the idea of purchasing a house that they won’t need to renovate, and a well-designed outdoor living area can make your home stand out from the rest.

One of the most popular outdoor renovations is to add a timber deck. A deck can add warmth and comfort to any outdoor space, and when combined with a pergola, it can create an inviting and cosy atmosphere. Adding a deck also helps to create a seamless transition between your indoor and outdoor living spaces, which is a big selling point for many buyers.

One of the best things about adding a deck is that it’s relatively low maintenance. With a weatherproofing stain, your deck will stay protected for years, and you only need to clean it once a year to keep it looking great.

To really make your deck stand out, consider adding outdoor furniture, lighting, and accessories. Creating a cosy and inviting outdoor room will help buyers see the space as an extension of the house, and they’ll be more likely to pay extra for it.

Smart Home Technology

While renovating a home can be an overwhelming task, upgrading to smart technology is a cost-effective way to add value to your property.

Automated blinds and curtains, smart lighting, climate control with smart thermostats, built-in speakers with app control, smart locks, smart garage door openers, smart appliances, and smart home security systems are just a few of the upgrades that can attract buyers to your home.

But it’s important to note that while these upgrades may impress potential buyers, they may not necessarily translate to a higher sale price. In fact, a recent New York City condo on the market had high-end smart technology but buyers focused on the layout, light, and age of the renovation instead. However, having current, high-end technology can signal that the wiring is up-to-date and that the seller took pride in maintaining the home.

If you’re looking to upgrade your home for future buyers, choose less expensive options that give your home a neutral yet updated look and feel. But if you’re renovating for yourself, don’t be afraid to choose colors, materials, and technological embellishments that you like and will enjoy living with.

Create a Home Office

The pandemic has forced many people to work from home, making home offices more valuable than ever. Even before the pandemic, homes with a designated office were considered an advantage in the real estate world. Adding a home office to your property can increase its worth by as much as 10%. Home offices are attractive to buyers because they offer a dedicated area for work, making it easier to transition from work-life to home-life.

Creating a home office can be done in three ways: repurposing existing areas, building an addition, or making use of a garden dwelling. Repurposing existing areas is the cheapest way to add a home office, while building an addition is the most expensive and complicated option. It’s worth noting that garage conversions bring the least profit, while attic conversions offer the highest return on investment.

Having an area separated from the rest of the house can make it easier to concentrate on tasks at hand. An office can also function as a study room for adults and children alike. With an enclosed or private workspace, your household members will be less likely to interrupt important Zoom meetings or conference calls. Adding an office space can also increase the size of your home, making it an even better investment. Ultimately, a home office helps keep work equipment and documents from cluttering the rest of the house. By incorporating desks, shelving, and cabinetry into your custom workspace, you can store the items you use regularly.

Frequently Asked Questions

What is the average cost of a kitchen renovation?

The cost of a complete kitchen renovation can range from $4,500 to $60,000+, with the national average being $25,500.

What is the expected return on investment for a mid-range kitchen makeover?

A mid-range kitchen makeover’s standard return on investment (ROI) is between 50% to 60% of the total budget. For instance, if you spent $69,000, you can expect to recoup around $34,500 to $41,400.

Can replacing windows add value to your home?

Yes, replacing windows can add significant value to your home, and it can offer up to an 85% return on investment, which is higher than other home renovation projects like a roof replacement or deck addition. Additionally, energy-efficient windows can help reduce your utility bills and provide long-term savings.