Smart Home Renovations That Boost Property Value
Your home is one of the biggest ticket items you will ever own. It is not just a place to live – it is also an investment that can grow in value over time. One way to make your home worth more is to make smart changes or add value through home renovations. But something worth noting, not all renovations are the same. Some will help your home sell for more money later, while others may not help as much.
In this blog, we will discuss the top five home renovations that can add value to your property. These are things that many new buyers love, and can make your home more comfortable and useful as you spend your time there. We will explain each type in a way that is easy to understand, even if you are just beginning to learn about home
KITCHEN REMODELS
They say the kitchen is the heart of the home. This is true! Many people spend a lot of time in the kitchen. It’s where you cook, eat, talk, study, and gather with others. So, it makes sense that a nice kitchen can make a home more valuable.
A kitchen remodel doesn’t have to be super costly. Even small changes can make a huge difference!
- Replacing old cabinets with new cabinets. Replacing or painting them can make the kitchen look fresh and clean.
- Replacing old countertops with new granite or quarts. People love the solid surface countertop looks; they are easy to clean and give a modern feel.
- New lighting can make a kitchen feel bigger and brighter.
- New appliances, such as energy-saving stoves, fridges, and dishwashers look great. They appeal to new buyers and can also save money on electricity.
According to real estate experts, a kitchen remodel can return 60-80% of the cost when you sell your home. That means if you spend $20,000 during a kitchen remodel, your home value could go up by $12,000 to $16,000 or more!
BATHROOM UPGRADES.
Bathrooms may be small in regard to square footage, but they are super important! A clean, modern bathroom makes a home feel well cared for. When buyers tour a house, a nice bathroom can really make a difference.
Just like kitchens, you don’t need to start from scratch. Some upgrades that add value include new tiles, upgraded fixtures, walk-in showers, and more storage. Replacing old tiles, which may be stained or cracked from ware-and-tare, can give the room a fresh look. Swapping out old fixtures, such as sinks, toilets, or faucets, for new ones can modernize your bathroom. This can be a low-cost option that offers a nice change. Another upgrade can include a walk-in shower, which many people prefer over a tub. A walk-in shower with a glass door makes the space feel more modern and open. Adding storage, such as shelves or cabinets, is helpful in resale. People like to have space for storing towels, soaps, and more.
A bathroom remodel can add 60-70% of the cost back into your home’s value. Plus, it may help your home sell faster, as buyers love a move-in ready bathroom.
ADDING SQUARE FOOTAGE
Adding extra space to your home is one of the best ways to make it worth more, although it may cost more upfront. Bigger homes usually sell for more money. You can add square footage in several ways, depending on your home’s layout.
Some ways to add more space include building a room addition, finishing the basement or attic, or adding a second floor. Building a room addition could mean adding another bedroom, office, or even a sunroom! You could also extend one of the rooms in your home in the same way. Finishing the basement or attic turns an unusable space into one that is functional for living. Adding a second floor is a big project, but adding an upper level can double your living area and square footage. The possibilities are endless with this one!
When adding a new space to your home, there are a couple of things that you should consider. First, make sure the new space fits the style of your home. You will also need to check into the local building rules and get permits for construction. It’s a good idea to work with a local contractor who knows what they are doing when building out.
Depending on what kind of space you add, it can add $30,000-$50,000, or more to your home’s value. People love having more space, especially if it means an extra bedroom or home office.
CURB APPEAL
“Curb appeal” means how nice your home looks from the street. When people come to your house, the outside is the first thing that they notice. A clean, well-landscaped yard or driveway can make a huge difference.
Here are some easy ways to improve your curb appeal.
- Paint the front door. A bright, clean door gives your home a friendly feel. You can also change or paint shutters to modernize your home.
- Add flowers and plants. A few colorful flowers in the front yard make your home look cared for and well-maintained. Depending on your area, see what kinds of plants are easy to care for that will give your home a nice curb appeal.
- Clean the walkways and driveways. Power washing can remove stains and make everything look and feel newer.
- Replace the mailbox, house numbers, or light fixtures. These small details can make a huge impact and change the visual appearance of your home.
Curb appeal is a small feat that can increase your home’s value by 5-10%. This is something that can be slowly worked on over time and on a budget as well. A nice curb appeal can attract buyers who are searching online. Good pictures of your house on the outside will make people interested to see more.
ENERGY EFFICIENT UPGRADES
Today, more buyers are concerned about energy use. They are looking for homes that are better for the planet and cheaper to maintain. Making your home more energy-efficient is good for you now and for the buyers and new homeowners later.
Some of the top energy-saving renovations include new windows, insulation, solar panels, and a smart thermostat. Installing new windows, such as energy-star-rated or double-pane windows, can keep the heat in during the winter and out during the summer, saving you money on your electricity bill. Adding insulation in the attic or walls can also lower heating and cooling costs. Solar panels can be a big investment but also save money on energy bills. Finally, smart thermostat devices learn your living habits and help you use less energy.
Energy-efficient homes can sell for more money and sell faster. Some upgrades, like windows and insulation, can pay for themselves over time by lowering energy bills. Not only is this a huge selling point for buyers, but it helps you save money in the short-term.
FINAL THOUGHTS
Not every renovation will work for every home or every family. Before you begin your renovations, ask yourself:
- What do buyers in my area look for? You can talk to a local real estate agent to find out what is popular or helping homes sell faster.
- Will I get my money back? As noted above, some upgrades pay off more than others.
- Do I plan to sell soon? If the answer is no, choose renovations that you will enjoy!
Main changes to your home can be exciting and rewarding. When done right, home renovations can make your home more enjoyable to live in and also help it to sell for more money. The top five home renovations that add value are kitchen remodels, bathroom upgrades, adding square footage, improving curb appeal, and energy-efficient upgrades.
Whether you plan to sell soon or just want to enjoy your home now, these changes can make a huge difference. Remember to plan carefully, stay within your budget, and enjoy the process of improving your home.
Even if you don’t want to take on a big renovation, here are some weekend projects that can also add value!
- Paint a room in the home. Make it a new, bright color and create a theme.
- Add new door handles or drawer knobs.
- Put up extra shelves for storage.
- Change old light switches or fixtures to modern ones.
- Plant a small flower garden or fix up the yard.
These may seem small, but they show that the home is well taken care of – and that is something that makes buyers feel good.
Want to learn more about making smart home choices? Continue to follow our blog for more home tips that can make a big impact! If you are thinking about a project, contact us at NSG Construction. We can help with budgeting, ideas, and more. We are here to make your renovation dreams come true.
