Remodeling your home can not only make it more enjoyable for you and your family, but when done right, it can also increase your home’s overall value. Which is especially beneficial if you choose to sell your home down the road. However, not all renovations are necessarily in your best interest. While some may add significant value to your home, other projects can actually decrease it.
So which ones should you focus on? One of the most important things to keep in mind during a home improvement project is that above all, your home should serve the needs of you and your family first. Once you’ve decided on that, choose your project accordingly.
If you’re unsure where to start, here are some of the best home improvement projects that will not only improve the lives of your family, but can boost your home’s overall value.
A simple and inexpensive way to refresh your home while also increasing its value is by painting. Giving the interior as well as the exterior of your home a fresh coat of paint can easily update the look of your home and enhance curb appeal, while greatly increasing its overall value. When it comes to paint colors, however, for the most bang for your buck, it’s best to leave personal taste and trends out and instead stick to timeless, neutral colors that appeal to the majority of homebuyers and won’t look dated in a couple of years. Add pops of color throughout your home with accessories and pillows that you can easily switch out depending on your mood or the latest trend.
Add a Deck
For those that enjoy spending time outside entertaining friends and family, a deck is a no-brainer when it comes to home improvement projects. Adding a deck onto your home is practical, cost-effective, and functional. It also has a high return on investment making it a great home improvement project that you can thoroughly enjoy while reaping the benefits downs the road. Research shows homeowners can regain roughly 75% return on investment (ROI) by adding a deck to their home. One of the main reasons for this is that decks increase the living space of your home but cost a lot less to build than an actual add-on.
Focus on Curb Appeal
Before a potential buyer even steps through your front door, your home has already made a first impression. A tidy and attractive exterior, also known as curb appeal, reflects positively on your home and can increase its value by 5 to 11%. When it comes to curb appeal improvements, start by giving your home a good wash and a fresh coat of paint to the exterior. Other projects include replacing dingy hardware, painting your front door a bold color, and enhancing your yard with landscaping.
Updating your bathroom is another easy way to increase the overall value of your home, and it doesn’t necessarily have to cost an arm and a leg if you have a strategy in place and make smart upgrades in your bathroom. New flooring, an updated vanity area, updated cabinets, and new showers or tubs are all upgrades to consider for the highest return on investment. If you’re working with a smaller budget, you can easily increase the value of your home with inexpensive DIY renovations by giving the bathroom a fresh coat of paint, updating fixtures, replacing old mirrors, adding shelving, and swapping out old light fixtures.
The kitchen is ultimately the hub and focal point of your home, so functionality and appeal is vital, and also why a kitchen remodel is one of the smartest home improvements you can make. Most homebuyers are looking for modern and updated kitchens when looking at homes. While kitchen remodels can be pricey, the good news is that the return on investment is high for kitchen renovations, with reports showing that homeowners can recover up to 52% of the cost of a kitchen upgrade upon selling the home. Some of the best upgrades to add for the highest return on investment are kitchen islands, new countertops, updated or freshly painted cabinets, energy efficient appliances, and a fresh coat of paint on the walls.