8 Top Home Renovation Projects to Increase Your Homes Property Value.
April 12, 2023
Are you looking to increase the value of your home? Whether you’re planning to sell your home in the near future or simply want to improve your living space there are a lot of factors to consider. From the overall condition of your home to its location and local housing market, there are many variables that can impact your home’s value.
When looking to sell your home, you obviously want the greatest value for your home. There are endless projects you can undertake to make your home more comfortable, functional, and visually appealing. However, not all home renovation projects will increase property value.
A pool is a great example, whilst you or your family might love a dip every chance they can get, there are a lot of ongoing maintenance and energy costs involved in owning a pool, and if a buyer isn’t too interested in swimming, a pool can have the potential to detract buyers.
If you’re looking to increase your home’s property value, it’s important to focus on projects that will not only enhance your enjoyment of your home but also appeal to potential buyers.
Here are some top home improvement projects that can increase your home’s property value:
A New Kitchen
The kitchen is the heart of the home, and for good reason, it’s a place where everyone one gathers to cook, eat, and socialise.
A kitchen remodel can make a big impact on the overall value of your home. Updating this space can significantly increase your home’s value, and it doesn’t have to break the bank. Replacing or updating cabinets, countertops, and appliances can instantly give your kitchen a fresh look and make the property look more modern and attractive.
When renovating your kitchen, it’s important to consider the layout and flow of the space. A functional and efficient kitchen can be a major selling point for potential buyers.
Additionally, consider the materials and finishes you choose. Will it appeal to a wide range of potential buyers? Opting for high-quality, durable materials can add value to your home in the long however, high-end upgrades may not always yield a high return on investment.
Bathroom Remodelling
The bathroom is another essential room in a home that buyers look at when choosing a home. Simple upgrades like replacing outdated fixtures and adding new lighting can make a huge difference, but a full bathroom remodel can add significant value to the property.
Upgrading the flooring, replacing the vanity and sink, and installing a new shower or bathtub has the largest impact on the look and feel of the property.
When remodelling your bathroom, consider the size and layout of the space. If possible, adding a second bathroom or converting a half-bath into a full bath can add significant value to your home. Additionally, choose finishes and fixtures that are both stylish and durable.
Outdoor Entertainment Areas
Outdoor living spaces, such as patios, decks, and outdoor kitchens, have become increasingly popular in recent years. These spaces allow homeowners to enjoy the outdoors and entertain guests.
Adding a deck or patio to your home can increase your property’s value and improve your quality of life. An outdoor kitchen can also be installed for that complete recreation hub.
When adding outdoor living spaces, it’s important to consider how often you’ll be able to use the space. For example, you may want to invest in a patio heater or an outdoor fireplace to extend the use of the space into the cooler months.
Additionally, consider the materials and finishes you choose. Opting for high-quality, weather-resistant materials can ensure the space looks great for years to come.
Landscaping
A well-maintained yard can add significant value to your home. Landscaping can include planting trees and shrubs, adding flower beds, and installing hardscaping, such as a retaining wall or a walkway.
Maintaining a lush lawn and keeping your yard tidy can also increase your home’s curb appeal.
When landscaping your yard, consider the maintenance required for the plants and features you choose. Low-maintenance landscaping can be a major selling point for potential buyers, especially those who may not have a lot of time to spend on yard work.
Additionally, consider the climate in your area and choose plants and features that will thrive in that environment.
Sustainability
Energy-efficient upgrades can not only save you money on your utility bills but also make your home more attractive to buyers. Buyers are becoming more and more sustainability focused and seek to reduce their energy bills and minimize their impact on the environment.
Look to upgrade insulation, replacing windows and doors, and installing a programmable thermostat. These updates are extremely cost efficient and make a huge impact on your home’s overall energy efficiency.
Installing solar panels can also add value to your home, as more and more buyers are looking for energy-efficient homes, however, consider the return on investment for solar as you may not see an Immediate return.
Home Automation
With the recent popularity in services such as Google Home and Phillips Hue, Home automation has become increasingly popular, and can add value to your home.
Smart home technology can include automated lighting, smart thermostats, and security systems. Adding these features can make your home more attractive to buyers, especially younger buyers who are more likely to embrace this technology.
When adding home automation features, consider the cost and complexity of each feature. Some features, such as a programmable thermostat, may be relatively inexpensive and easy to install, while others, such as a whole-home automation system, may be more complex and costly.
Additionally, consider the age and preferences of potential buyers. Younger buyers may be more interested in smart home technology than older buyers.
Fresh Coat of Paint
A fresh coat of paint can do wonders for your home’s appearance and value. Painting your home’s interior and exterior can make it look new again and increase its curb appeal. Choose neutral colours that will appeal to a wide range of buyers.
When choosing paint colours, consider the current trends and what will appeal to potential buyers. Neutral colours are a safe bet and can make the space feel larger and more inviting.
Additionally, consider the quality of the paint you choose. Opting for high-quality paint can ensure that the space looks great for years to come.
Flooring
Replacing your old, worn-out flooring can also increase your home’s value. Hardwood floors, for example, are a popular choice among buyers and can add significant value to your home.
When choosing flooring, consider the durability and maintenance required for each option. Hardwood floors are a popular choice and can add significant value to your home, but they may require more maintenance than other options and turn off some buyers.
Additionally, consider the style of your home and choose flooring that complements the overall aesthetic.
Overall, there are countless home renovation projects you could undertake to increase your home’s property value. However, the projects mentioned in this article are among the top home renovation projects that can give you the most bang for your buck.
By undertaking one or more of these projects, you can increase your home’s value, improve your quality of life, and make your home more attractive to potential buyers.
If you would like to know the value of your property either before or after your renovations contact us for a free property appraisal today!