- Kitchen remodeling, bathroom renovations, and energy-efficient improvements can increase property value and ROI.
- Outdoor amenities such as decks, patios, fire pits, and swimming pools can enhance the home’s sanctuary-like atmosphere.
- Adding new lighting fixtures, countertops, flooring updates, and a kitchen island can add value to a kitchen.
- Improving energy efficiency with solar panels, windows, and insulation will appeal to buyers.
- Landscaping the yard with gardens, walkways, outdoor lighting, and a fence can add curb appeal.
Owning a home is a significant investment that requires financial planning and strategic decision-making, especially when it comes to home improvement. Whether you plan to sell your home or just want to increase its value, certain home improvement projects can increase your property’s value and make it more desirable to buyers.
This blog post looks at the top home improvement projects for increasing property value to help you make informed decisions for your home.
The kitchen is one of the most essential rooms in any home, so remodeling your kitchen can significantly increase your property value. The return on your investment for a minor kitchen renovation is around 85.7 percent.
Some kitchen remodeling projects with the highest return on investments include updating kitchen cabinets, replacing old appliances with energy-efficient models, and adding a kitchen island.
Other Kitchen Improvements
Other improvements can include installing new countertops, replacing the flooring, and adding new lighting fixtures. With the right kitchen remodeling ideas, you can update your kitchen to meet your family’s needs and make it a comfortable place to cook, entertain, and even relax.
The bathroom is another room in your home that can add significant value to your property when you make strategic improvements. Whether it means installing new tiles, updating fixtures, or adding a brand-new vanity unit, a bathroom renovation can significantly affect your home’s overall value.
Return on Investment
According to a study, the typical cost of a complete bathroom remodel is $26,574 in 2022. If homeowners decide to sell their property later, they can expect to recoup approximately 60 percent of their investment, roughly $15,944. In every state in the US, the return on investment from a standard bathroom renovation exceeds the project’s cost.
Bathroom Remodeling Ideas
Consider installing a separate shower cubicle, as most homebuyers place this as a must-have in their checklist. Adding better lighting and a new vanity unit can also help make your bathroom feel more spacious and inviting. Lastly, ensure you don’t forget the finishing touches, like adding mirrors, artwork, plants, or even replacing your old blinds with something more modern.
Increasing the Living Spaces
Creating outdoor spaces that complement the interior of your home can add value to your property. Consider adding outdoor decking, a patio with an outdoor dining area, a fire pit, or a swimming pool. These outdoor amenities can transform your home into a sanctuary and increase its value.
Add to the Indoor Living Area
If you have space in the property, consider adding to your existing indoor living area. If expanding the existing structure is necessary, you should work with a company offering reliable as-built surveying services. The service checks if the actual structure is consistent with the project blueprint. Checking the consistency allows you to decide whether or not to modify the existing structure to accommodate the expansion.
With many homebuyers increasingly focusing on sustainability and lowering energy costs, improving your home’s energy efficiency can make it more valuable. Energy-efficient home improvement projects can include installing solar panels, energy-efficient windows, smart thermostats, and insulation in your walls and roofs.
Replacing older appliances with newer Energy-Star-certified models is another great way to make your home more energy efficient. Investing in these projects can help you save money on your energy bills and make the home more attractive to buyers when you decide to sell.
Landscaping your yard can add value to your property’s overall aesthetics, making it more appealing to buyers. Consider adding a beautiful garden with various plant species, installing outdoor lighting, mowing your lawn, and creating walkways in your backyard.
You can also improve your home’s curb appeal by painting the exterior or repairing the roof to make your home more marketable. Adding a deck or patio can also increase your home’s value and appeal to potential buyers. Finally, consider installing a fence around the perimeter of your yard for additional security and privacy. With these tips, you can make an attractive and valuable outdoor space attractive to potential buyers.
Home improvement projects can be daunting yet worthwhile, especially when focused on increasing your property’s value. The top home improvement projects for increasing property value include kitchen remodeling, bathroom renovations, added living spaces, energy-efficient improvements, and landscaping. These projects beautify your home and make it more efficient and functional, providing you and potential future buyers with greater value. You can increase your property value and enjoy the rewards with careful consideration and thoughtful planning!