When it comes to homeownership, remodeling projects usually come with an ulterior motive. They surely are a way of improving the appearance and homelike feeling of a property, but everyone knows that renovations can often lead to a boost in a home’s value as well. Although changes can be made in pursuing that goal, it’s important to note that not all renovations are created equal. Some will provide a much higher return than others, so understanding which upgrades are the most valuable is crucial.
Yes, many people will find a backyard gazebo to be a plus that conveys a nice vibe to their property; however, is it really something that is popularly valued within the expectations of other potential buyers? Whether you’re planning to stay long-term living in this place or thinking of selling soon, making smart renovations (those that will also offer a return on investment (ROI)) can pay off the day you decide to sell.
While it is important to make the necessary adjustments in your property to feel more comfortable (and this will depend entirely on your taste and what makes you feel good), if what you really want is to invest in changes that will be most valued in today’s market, this guide is for you. Here we have gathered the most popular recommendations for house improvements. And if they are popular, it is for a reason, as they can help increase your property value ensuring you make the most of your investment without overspending.
1. Kitchen Remodel
The kitchen is often considered the heart of the house, and for good reason: it is an essential part that transmits homely warmth, as it is directly related to the care of the people who inhabit the space, through home-cooked food. A well-designed kitchen motivates people to spend more time at home and cook their favorite meals.
A modern kitchen equipped with the right tools and appliances can be a major selling point, increasing your house’s marketability and its overall value. When renovating the kitchen, you don’t need to gut the entire space to see a significant return. Small updates can go a long way.
Smart upgrades:
- New countertops: Installing granite, quartz, or marble countertops can give your kitchen a high-end look. These materials are durable and attractive, making them a popular choice among homebuyers.
- Energy-efficient appliances: Upgrading to energy-efficient appliances, such as refrigerators, dishwashers, and ovens, not only enhances the aesthetic appeal of the kitchen but can also lower utility bills, which is a desirable feature for potential buyers. Although the potential cost of these replacements can be expensive, consider that they’re an investment that is usually well-valued, especially since these appliances have, usually, a long lifespan.
- Modern cabinets and hardware: Replacing outdated cabinet hardware or refinishing cabinets can give the kitchen a fresh, updated look without the cost of full cabinet replacement.
- Custom lighting: Lighting has a huge power over home decor. It is commonly recommended to avoid absolute white light bulbs and, instead, combine them with dimmer LED lighting in warm temperatures.
According to different sources, kitchen renovations can offer one of the highest returns on investment among home renovations.
2. Bathroom Renovation
Like the kitchen, the bathroom plays a big role in how potential buyers perceive your home since it’s a space frequently used by all family members. You don’t need to invest in a computerized toilet, though. Keeping your bathroom appealing, clean, and without any humidity problems, will do the job. So, a well-executed bathroom renovation can be relatively low-cost but still deliver an impressive return.
Smart upgrades:
- Updated fixtures: Swapping out old faucets, showerheads, and light fixtures for modern, sleek designs can make a huge difference.
- New flooring and tile work: Replacing worn-out floors with durable materials like porcelain tile can instantly refresh the space.
3. Outdoor Enhancements
Many people will tell you this: the exterior of your home is key, as it is the first impression people get. When you see a house with a poorly maintained front yard, a lawn that hasn’t been trimmed in a while, unkempt plants, and overgrown weeds, the first thing you probably think is that the inside of the house must be just as untidy.
In addition, something that the pandemic showed at the time was the positive effect that a beautiful garden has on people. It can become a place to relax or even develop a new gardening hobby.
In this sense, the curb appeal plays a significant role in attracting buyers. Improving the exterior of your home is an effective way to increase its value, and the upgrades you can make are relatively simple and affordable.
Smart upgrades:
- Landscaping: Adding new plants, flowers, shrubs, or trees can immediately enhance the look of your property. Trim overgrown bushes and create defined garden beds for a neat, inviting appearance.
- Fresh coat of paint or new siding: Repainting the exterior or replacing old, damaged siding can give your home a fresh, modern look. Neutral colors are always a safe bet for broad appeal.
4. New Updated Flooring
There’s no denying that replacing your flooring can be a big-ticket item (which is probably the reason why many people keep postponing it for years); but the truth is that worn or outdated flooring can detract from a home’s appeal. Replacing old carpets with hardwood or high-quality laminate flooring can make spaces feel larger and more modern. In this case, investing more is, definitely, investing smart.
5. Smart Home Features
Homebuyers today are increasingly interested in smart home technology. Adding smart features to your home adds a modern, high-tech feel that can increase value. Note that these improvements don’t have to be expensive. Opting for small renovations that help make a home more functional and safer is an excellent option.
Smart upgrades:
- Smart lighting and locks: Programmable lights, smart locks, and doorbell cameras can make your home more convenient and secure.
- can make your home more convenient and secure.
As we mentioned at the beginning, all these improvements indeed depend on people’s lifestyles and tastes, but they have in common that most of them appeal to covering the comfort needs that make people feel at home. By making thoughtful, strategic renovations like the ones mentioned in this article, you can improve your living experience (if these improvements are meant for you and your family), and also maximize the potential resale value of your property in the long run, if one day you decide it is time to make a profit out of it.
