Experienced home sellers know they can make a pretty penny by boosting the property’s value before putting it on the market. One of the best ways to increase a home’s value is renovating. However, some home renovations are more effective at boosting your home value than others. Therefore, before starting a home renovation project, you should consider the cost versus the value. If it pays off, go ahead, if not, think twice before investing your hard-earned money. Here are some inexpensive home renovations that will boost your home value and improve its owners’ quality of life (some of which are also easy to do).
Kitchen renovations that will increase your home value
The first renovation on our list of smart projects that will boost your home value is a kitchen update. This is a project you must be careful with. Comparing the cost and the value is crucial when renovating a kitchen because one can easily go overboard. A fresh coat of paint, new (energy-efficient) appliances or adding a window over the sink will give your kitchen a new life. On the other hand, installing granite or marble countertops can be an expensive investment that doesn’t pay off at the end of the day. Whatever you do to your kitchen, always make sure the size, style, and quality of the kitchen fit with the rest of your home.
Adding a second bathroom to attract home buyers
A second bathroom is often one of the features people look for when buying a home. You can recoup a large chunk of your investment if you add a second bathroom to your home. However, finding room for another bathroom can be tricky. If there are no extra rooms you can turn into a bathroom, consider other spaces you do not utilize that often, such as closets. You’ll need at least 18 square feet for a half-bath and at least 30 square feet for a full bath. If you do not have that much space, at least improve the bathroom you have by updating bathroom amenities and fixtures.
Energy-efficient renovations that will boost your home value
Did you know that nine in ten houses in the US are under-insulated? Homes that aren’t energy-efficient are more expensive to live in and maintain. Renovating with energy-efficiency in mind saves a lot of money in the long run, plus, it doesn’t have to be expensive.
Therefore, consider replacing old, drafty windows and doors with energy-efficient ones. A mid-range window replacement costs around $5,000 and usually delivers the best value. More expensive window replacements are often more about aesthetics and less about insulation. If the glass is damaged, you can save up to 25% by partially replacing the window with window inserts that fit inside the existing frame if the frame is in a good condition. Sealing all cracks around your home will also boost its value. Furthermore, a programmable thermostat and a high-efficiency water heater are features many people expect when buying a new home. Do not let them down.
Increasing space and light inside your home
Consider renovations that will boost your home value by adding more space and natural light. Dark, cluttered rooms are a huge turn-off for home buyers. By opening up the space and enhancing natural light, you’ll make your home a lot more inviting. Open-floor plans are not only trendy but also convenient. Knocking down some walls and adding windows will make your home appear much larger. Another way to let in some natural light is adding a skylight. Have in mind that any roof upgrades and renovations require professional assistance. A company such as AM Roofing Company can help you a lot with this type of home renovations.
If these renovations are too complex and expensive for you, simply repaint your walls using brighter colors and buy some large mirrors to create an illusion of space. Removing bulky furniture is probably the cheapest way to increase both space and light inside your home. Take your unwanted furniture to a storage unit, sell or donate it because a cluttered home is never a pretty sight.
Exterior home improvements that will increase your home value
Boosting your curb appeal is another one of those renovations that will boost your home value but only if done properly. Don’t miss your chance to make an amazing first impression. Bear in mind that less is more. Avoid upgrades like expensive landscaping, fountains, and in-ground swimming pools. Instead, take proper care of your lawn and make sure your driveway is paved properly. If you really want to show a little more effort, add a nice stone walkway lined with greenery.
Taking care of your old front door and warn gutters will also drastically improve your curb appeal. So, replace or install new gutter with the help of professionals before potential buyers start coming, and the same goes for your front door.
Adding a deck to increase your home’s value and sale appeal
Outdoor living has become very popular. Adding a deck can cost between $1,200 and $10,000, or more. It all depends on its size, design and materials used. However, you are likely to recoup more than 80% of its cost when selling your home. Features such as built-in benches, multiple stairs, built-in flower pots or a fire pit will make your deck even more appealing to buyers. Although you can save a lot of money by doing it DIY-style, deck construction is complicated. Plus, it requires special tools that can be quite pricey. Hiring a contractor might be a smarter choice, especially if you haven’t done anything like this before.