Top 10 projects to increase your home value
Enhancing your home can help you improve your enjoyment of it, but did you know that many remodeling projects can actually increase your home’s value too? If you’re planning to sell your home at some point, it makes fiscal sense to invest in a project that will likely add to its value on the real estate market. Even if you intend to stay in your house, it’s important to maintain or improve home value because your plans might change and your house is still a major investment that you should protect. Consider the following home improvement projects that are most likely to increase your home’s value.
Finish the Basement
If you have a standard unfinished home basement, consider finishing it to increase your home’s value. As one of the top projects to increase your home value, finishing the basement can increase its value by the tune of thousands. Depending on where your home is located and your real estate market, you’re likely to experience a return on your investment that ranges between 50% and 80%. According to HGTV, you shouldn’t spend more than 10% of your home’s value on this project in order to achieve the best ROI. A finished basement is a popular feature for home buyers, however, as it can increase living space and provide additional storage space for the home.
Remodel the Kitchen
Often regarded as one of the best projects to increase your home value, a brand-new kitchen is always among the safest investments to make in your home. On average, you can expect an 80-85% return on your investment when you remodel or renovate your kitchen. In fact, you don’t even have to gut the space and renovate everything to reap the value benefits. Consider what’s most dated about the space. Think about installing new cabinetry, countertops, and flooring for starters to transform your kitchen’s look.
Renovate Master Bathroom
Consider transforming your home’s master bath into a bathroom suite. A master bathroom is something that home buyers look for, so if yours is outfitted with new or custom features, it’s likely to stand out. Moreover, bathrooms are associated with great ROI just as kitchen remodels are. If you intend to stay put in your house, you’re sure to love the improvements you make to your master bath. Some ideas to consider for this project include adding square footage to the space (borrowed from a nearby closet or your bedroom), adding a walk-in shower, installing a skylight, or adding bespoke storage features.
Add a Bathroom
Adding a new bathroom is also one of the best projects to increase your home value. First, it’s much cheaper to convert existing space into a bathroom than adding extra space. Typically, a new bathroom installation will earn you an average ROI of 60%. Keep in mind that houses with full or ¾ baths are more popular than homes with a single full bath and ½ baths. If you’re planning to install a bathroom, consider adding a walk-in shower to enhance your home’s marketability.
Add an Addition
Adding more square footage is a safe home renovation project that’s likely to increase your home’s value. A new home addition with a bedroom and bathroom is certainly not a cheap investment, but it is one where you’re going to enjoy a home value increase. As you budget for this project, be sure that you shop carefully for good-quality materials that also match the current look of your home. A poorly done addition can sabotage your house at sale time. Plus, your new addition doesn’t necessarily have to be a bedroom. You can gear it to be a family room, sun room, or dining room and still recoup value.
Install a Swimming Pool
If your home is located in an area that enjoys lots of hot weather and sunshine, consider installing an inground swimming pool. In certain areas of the country, a swimming pool is a popular selling feature and one that can add to the value of a home. Keep in mind that not all home buyers want a house with a pool, but if this is a feature you or your household will enjoy, it still makes sense to add one to the property.
Add a Patio
Increasing numbers of home shoppers are looking for homes that have great outdoor features like expansive patios, especially in geographic areas that have long summers. A patio can add substantially to the home’s outdoor living space. You can gear this home improvement to be an outdoor living room or outdoor kitchen / dining space. To achieve the most value from this project, be sure that you use high-quality materials that complement the look and style of the house. A new patio is one of the best outdoor projects to increase your home value.
Improve the Curb Appeal
If you’re planning to sell your home in the future, you’ll want to consider the house’s curb appeal. Many of the improvements you make to the facade of your home or the front yard landscape can increase your home’s value. Consider resurfacing the front walk, expanding the front porch, or hiring professional landscapers to revamp the yard. You don’t have to spend a fortune to improve your home’s curb appeal either. Trimming trees and shrubs and adding fresh paint to railings and shutters can spruce up curb appeal too.
Get New Windows
It might not seem as glamorous as some of the other projects listed here, but new windows can also add to your home’s value. Moreover, a home with old windows could detract from the marketability of your house at sale time. Buyers are well aware that new windows are costly; they may not want to purchase a house that needs this type of update. Many buyers are looking for houses that have energy efficient features, so when you install new windows, be sure they are energy efficient so you can market them accordingly.
Many home buyers are searching for homes with green features or alternative energy features. You can achieve a good ROI by installing a solar system. Yes, this is a substantial investment, but it’s also one that will save you money over time if you plan to live in your house for a while. If you don’t want to make this type of big investment, think about installing a solar attic fan. It’s a popular feature with home shoppers because it can save homeowners money on energy costs.
These projects can typically increase the value of your home. However, if you want to sell your house quickly and don’t want to contend with the real estate market, consider requesting a cash offer from SellHouseFast. You could be pleasantly surprised with the offer. A cash purchase by SellHouseFast means you don’t have to deal with real estate agents, open houses, countless home visits, negotiations, and all the other hoopla associated with the real estate market‘s process. Call today to get your offer.