Buying can turn into a wise investment if you come up with ways to increase its resale value. It could mean exploring which upgrades and remodeling projects are worth your effort and time. Instead of immersing yourself in different home improvement goals or ideas, determine which ones can provide you with the highest return on investment to ensure you’re improving your space for your family and potential buyers in the future.
Despite buying a house that’s already old or a new one, you can always find renovations and upgrades that will help improve your property. It can range from a complete kitchen remodel to a simple, fresh coat of paint. Below are six renovations that will help increase your property’s value and add convenience and comfort to your family.
Minor and Major Kitchen Remodel
Minor and major kitchen remodels are the first ways to increase your home’s value. You can expect to generate 53% to 72% on kitchen remodeling, depending on where you live, the materials used, and the kind of upgrades done. Minor kitchen upgrades can include:
- Upgrading faucets
- Adding kitchen islands
- Refinishing cabinets
- Installing new backsplash
- Updating light fixtures
- Increasing storage space
Major kitchen remodeling includes:
- Adding cooking, storage, dining, or seating space
- Adding square footage, doors, or windows
- Installing new countertops and cabinets
- Installing tile, laminate, or wood flooring
- Upgrading to high-end, modern appliances
When planning your kitchen remodel, you’ll have to follow your budget and keep the space functional and connected with the other areas of the property. For example, having a modern kitchen with high-end appliances might not be a good idea if you own an older home with lots of old-fashioned elements.
It might turn off potential buyers and feel out of place.
Maximizing Unused Rooms/Areas
Many properties also have unused, unfinished rooms, including bonus rooms, attics, or basements. Ignoring that space means you have square footage you aren’t maximizing and taking advantage of. Making the most out of those unused rooms will make your home appealing to potential buyers and increase your living space. It’s also cheaper than adding square footage to your home. You can turn unused space into a:
- Guest bedroom
- Second living room
- Home office or gym
- Game room
- Separate suite
- Library or study
Keeping Your Property Up to Code
Depending on your property’s age, you can invest in remodeling projects that ensure it complies with the existing building codes. For example, you can focus on these projects to make older homes more up-to-date:
- Water heaters
- Electrical wiring
- HVAC systems
Older homes that you haven’t remodeled before will benefit from these renovations. It might be expensive, but they’re often worthwhile because they’ll make your property more valuable, comfortable, and safer down the road.
Transforming the House’s Interior
Transforming your home’s interior will also go a long way. Design updates will help stage your property for sale and get relatively reasonable prices. You might want to consider these projects if you’re looking for easy but worthwhile projects to attract potential buyers and increase your property’s overall value:
- Installing crown molding
- Modernizing color schemes
- Replacing old hardware and doorknobs
- Upgrading light fixtures
- Replacing heat registers and light covers
- Installing custom window coverings
- Repainting interior doors, ceilings, and baseboards
Don’t underestimate how much visual appeal these projects can offer, even if they seem less impressive than large-scale renovations.
In fact, a real estate web design company will focus on your chosen color palette because it will significantly affect your property’s price. They can quickly work with the colors when posting the photos of your house on your website, making it more enticing.
Landscaping Your Outdoor Areas
Landscaping your property will also make it more appealing and increase curb appeal, so you might want to consider investing in these projects:
- Clearing up old leaves and grass
- Replacing old mulch
- Adding planters, flower beds, or hanging baskets
- Weeding planters and flower beds
- Resodding or reseeding your lawn
- Planting trees
- Removing dead bushes and trees
You can quickly and cheaply do these projects, meaning you won’t need the assistance of a professional. Its return on investment ranges from 150% to 1,000%, which means landscaping projects are more likely to pay off down the road.
Investing in Smart Home Devices
Innovative, smart home devices are becoming increasingly popular in the market, which will help increase your property’s value and make it appealing to potential buyers. You can consider installing the most sought-after devices, including:
- Smart lights
- Smart home security systems
- Smart thermostats
- Smart radon, carbon monoxide, and smoke detectors
Installing smart home devices can increase your property’s value by 3% to 5%, which is likely to increase as more homeowners become familiar with home automation and smart home devices.
It might be challenging to determine how much these upgrades can add to your home, but your real estate agent will help you determine its price accordingly.