Choosing the right renovations can significantly enhance its market value when preparing to sell your home so focusing on projects with a high return on investment (ROI) ensures your time and money are well spent.
Here are the top 10 home renovations that (if added) can increase your property's resale value:
1. Kitchen Upgrades
The kitchen is the heart of the home and a key selling point for many of the buyers. Simple updates like replacing outdated appliances with energy-efficient models, installing modern countertops, and upgrading cabinetry can make a huge difference. Even minor renovations, such as adding a new backsplash or updating hardware, yield excellent ROI.
2. Bathroom Remodels
Focus more on functionality, ease of use of the space, and aesthetics of the bathroom to attract potential buyers because bathrooms are another area of the house where updates can have a massive impact so adding a double vanity, replacing old fixtures, or re-tiling the shower can make the space feel more luxurious.
3. Curb Appeal Enhancements
First impressions matter so enhance your home's curb appeal through landscaping, painting the front door a refreshing color, or updating exterior lighting and make your property look more inviting.
Additionally, you may plant flowers, trim hedges, and add a new mailbox as these are some of the cost-effective ways to spruce up the exterior.
4. Painting and Neutralizing
The entire look of your home can change instantly by a fresh coat of paint. Stick to neutral colors like soft grays, whites, and beiges, as they appeal to a broad audience and neutral tones also create a blank canvas by making it easier for buyers to envision themselves living in the space.
5. Flooring Updates
Refinished hardwood floors can improve your home's perceived value and look aesthetically quite pleasing while replacing worn-out carpeting with hardwood or luxury-vinyl plank flooring definitely adds a touch of elegance and durability for potential buyers.
6. Energy-Efficient Improvements
Today's buyers are increasingly interested in eco-friendly home options so installing energy-efficient windows, adding insulation, or upgrading to a smart thermostat ensures to make your home more appealing all the while lowering utility costs for future owners.
7. Basement or Attic Finishing
Transforming unused spaces like basements or attics into functional areas can add livable square footage and an upgraded and finished basement can serve as a family room, home office, or gym. A converted attic can be used as a cozy guest room or a small playroom for kids.
8. Outdoor Living Spaces
Adding a deck, patio, or outdoor kitchen can expand your home's usable area and increase its desirability because creating inviting outdoor spaces is a trend that continues to grow. Simple touches like comfortable seating and a fire pit make these spaces more attractive.
9. Roof and Siding Repairs
A well-maintained roof and clean siding indicate that your home has been cared for. Replacing damaged shingles or pressure-washing the siding can improve your property's appearance and prevent potential buyer concerns.
10. Smart Home Technology
Adding smart home features like a video doorbell, a smart security system, and/or automated lighting, can make your home stand out because these upgrades appeal to tech-savvy buyers and add a modern touch.
Final Thoughts
It is now safe to say that you must consult a real estate professional to prioritize updates that will yield the best returns for you. It is a must to focus on projects that are in line with your budget & the expectations of your local market.
In the meanwhile, renovations can boost your home's resale value and by investing wisely, you will not only attract more buyers but also maximize your property's sale price.
Our writers like to blog about interiors. We launched the award-winning Seasons in Colour in 2015 and the luxury property and interior decor blog www.alltheprettyhomes.com in 2024 to cover all your interior design, travel and lifestyle inspiration needs.