Adding Value to Your Home: 6 Renovations
Whether you’re purchasing a new or old home, you can always make renovations to improve the space. From a full kitchen remodel to landscaping upgrades, home renovations can help increase your home’s resale value and add convenience and comfort.
Here are six low-cost, high-value home renovations to consider.
1. Kitchen Remodels
A clean, pleasant, and attractive kitchen is essential for you and your prospective buyers. Before renovating your kitchen, consider its position, size, and shape and determine if you want to relocate it elsewhere or make structural changes to the space. Here is a list of inexpensive kitchen upgrades you can consider:
- Change faucets
- Add an island
- Replace cabinets
- Update light fixtures
- Update light fixtures
- Install new countertops and backsplashes
- Install new flooring in tiles, wood, or laminate
Be sure to stick with a look that blends well with the rest of your house. For example, if you live in a modern house, a vintage or rustic-style kitchen can look out of place and keep off potential buyers.
2. Install Hardwood Flooring
Carpets are popular for bedrooms but still look impractical elsewhere. Replace older carpets with neutral ones or install hardwood flooring in general. Hardwood flooring is elegant, classy, and clean and adds one of the best values to your house. Installing hardwood flooring gives an ROI of 106%. Remember that proper hardwood floor maintenance can also significantly increase your home’s value.
3. Smart Home Automation
Nowadays, smart home technologies are increasingly becoming more affordable and accessible. Smart upgrades make your home more attractive to potential buyers and add value. Some of the most installed smart home upgrades include:
- Smart lights
- Smart thermostats
- Smart smoke, radon detectors, and carbon monoxide
- Smart home security systems like doorbell cameras
4. Bathroom Upgrades
Serene, spa-like bathrooms add your home’s resale value and capture the attention of prospective homebuyers. The following renovations can make your bathroom looks hygienic and fresh, besides adding your house’s resell value.
- Upgrading lighting
- Adding a storage space
- Putting in a mirror or vanity
- Retiling, re-flooring, or painting
- Installing new tubs, toilets, sinks, or showers
Another idea is to add another bathroom to your home. Houses with multiple bathrooms are a hot deal in the real estate market. You’ll also appreciate the convenience.
You can add a bathroom by adding an ensuite to your master bedroom or turning unused space into a half bath on the main floor. Keep in mind that adding a bathroom where one doesn’t exist can be an expensive project.
Remember that you need a bathroom renovator to handle your complex bathroom upgrades, like lighting fixtures. Approximately 50,000 fires are caused by electrical faults in homes annually.
5. Update an Unused Space
Many homes have unfinished, extra spaces just waiting to be used, such as bonus rooms, attics, and basements. Make the most of those unused spaces to help increase your living space and make your house appealing to prospective buyers. You can convert unused spaces into a:
- Home gym
- Home office
- Game room
- Guest bedroom
- Separate suite
- Second living room
Landscaping your home adds curb appeal and makes it look more appealing to prospective buyers. Here are potential landscaping projects:
- Planting trees
- Replacing old mulch
- Weeding planters and flower beds
- Raking up old leaves and grasses
- Removing dead bushes and trees
- Reseeding your lawn
- Adding hanging planters, or flower beds
Many of these upgrades are inexpensive and DIY-friendly. The potential ROI of landscaping upgrades is 150%, meaning they can pay off handsomely.
Home improvement upgrades might be difficult to budget for and prioritize. That’s why choosing the ones that offer the most benefits is necessary. If you intend to sell your house, focus on renovations that can boost your apartment value instead of decreasing it. And remember, a real estate transaction process, especially buying and selling, can be daunting and complicated. Therefore, work with a realtor to determine where to start as you prepare to list your property.