8 Renovations to Increase Your Home’s Value
- Author:by Jessica Davidson
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Category: Home Improvement
Renovating your home is a big financial undertaking. As a homeowner, you must make sure that the home improvements you decide to pursue will increase your property’s value. That will ensure that you get the best price for your home once you place it on the market.
Since you will be spending a substantial amount on the renovations, you’ll need to evaluate the total cost and determine if it will be a worthwhile investment. To help you with the process, we’ve collected some of the best home upgrades that can add value to your home.
Table of Contents:
1. Update your kitchen
The kitchen is the center of the home, and its appearance and condition can significantly influence the decision of your prospective homebuyers. You might even yield a higher return on investment if you are renovating an outdated kitchen.
Since homeowners spend a lot of their time in the kitchen, try to enhance its beauty and functionality.
Start by giving it a fresh coat of paint. Go with neutral shades to make it look clean and fresh.
Invest in new and energy-saving kitchen appliances. Update your countertops, cabinets, kitchen tiles and backsplash, and switch out your light fixtures. Consider installing a new kitchen sink and faucet to make the space more appealing to potential homebuyers.
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2. Redo or add a bathroom.
Your bathroom is another key area of your home. If updated correctly, it could significantly increase your property’s value.
According to a report by the National Association of the Remodeling Industry, homeowners can recover 57% of bathroom renovation costs once they sell their house.
Before starting with the renovations, make sure to check whether everything works correctly. Plumbing and structural repairs can be costly, so you must focus on these issues first before addressing the cosmetic updates.
To update an outdated bathroom, you can replace the tiles, install a new vanity and light fixtures and add a few plants or art pieces. Your goal should be to make it both stylish and functional.
If you have additional funds in your budget, consider adding another bathroom to your home. You may be able to convert an unused closet or the area underneath your stairs into a half bath.
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3. Upgrade your exteriors.
For some homebuyers, the condition of the home’s exterior says a lot about the interior. If you want potential homebuyers to take an interest in your home, you need to focus on increasing its curb appeal. You can boost your home’s curb appeal by:
- a) Painting the exteriors
- b) Replacing the garage doors
- c) Updating your fence
- d) Installing a new door
- e) Cleaning your yard
- f) Starting a flower garden
- g) Adding an outdoor deck
Nowadays, families tend to spend more time relaxing at home. A well-designed outdoor living space will not only increase the appraised value of your home, but also make it more welcoming for your family and guests.
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4. Enhance your light fixtures.
You can update your light fixtures to make your home more inviting and aesthetically appealing to prospective buyers. When choosing your fixtures, make sure that they complement your home’s design and are both functional and attractive.
Switch to LED lighting, as it is a cost-effective way to save on your electricity bills.
You can also:
- a) Install dimmer switches on your light fixtures
- b) Add functional chandeliers or pendants
- c) Install under-cabinet lighting
- d) Place a decorative lamp in your living room or kitchen
Before making these changes, make sure to have a professional inspect your electrical system. Just like with your plumbing, electrical repairs can be costly, so you must address any issues first before making any enhancements.
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5. Boost your HVAC system.
One of the essential features in your home is your heating, ventilation and air conditioning system. It is responsible for making your home comfortable and it regulates your indoor air quality.
Updating your HVAC system may only give you a slight return on investment, but it will surely help attract more buyers. Many homebuyers tend to lose interest once they find out that the air conditioner or heating system is in poor shape.
It’s vital that you invest in a quality HVAC system to ensure its efficiency and durability.
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6. Replace your old roof.
Roof replacement is an expensive endeavor, so if your roof is still in excellent condition, you don’t need to have it replaced. You can maintain it by:
- a) Unclogging the gutters
- b) Removing debris
- c) Trimming the branches of nearby trees
- d) Inspecting and replacing the missing shingles
- e) Checking for moss growth
- f) Keeping it clean
However, if you have an old or damaged roof, it would be better to have it replaced as soon as possible. Installing a new roof can improve your home’s resale value and boost its curb appeal.
If your budget allows, consider installing solar panels. Houses with solar panels tend to sell faster than those without. It may be a substantial financial investment initially, but it will be a worthwhile endeavor in the long run.
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7. Enhance your home security system.
You can’t put a price tag on the safety of your family. Installing a quality home security system will not only protect your family, but also increase your property’s value. It is an especially attractive feature for buyers who have a family of their own.
When choosing your security system, make sure that it has all the elements you need for your home, such as cameras and an alarm system.
8. Replace your windows.
Just like your roofing system, your windows can be a major selling point to homebuyers. New windows can enhance your home’s appearance. When replacing them, make sure to go for energy-efficient windows so that you can save on cooling and heating costs.
Alternatively, you can also boost your home value just by ensuring that all your existing windows are in excellent condition. Make sure to fix broken windows and invest in quality glass for your home.
Knowing which home improvements will produce the highest return can help you make more informed renovation decisions. To avoid wasting your hard-earned money, remember to do your research properly. The tips above will help you get started.
