What renovations will add the most value to my home?

mm Paul Verbiton November 5, 2020
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home renovation in progress

Your home is where you live, but it is also an investment. You can increase the total value of that investment by making home renovations. If you are looking for upgrades that will have a big impact on your home’s value, these are options to consider. Click here for more property blogs.

Replacing Your Garage Door

If your home has an older garage door, you should strongly consider replacing it. The average cost of a new garage door is around $3,000. It is an affordable renovation that could give you a full return on your investment.

Installing a new garage door is particularly beneficial if your garage faces the front of your home. Renovations that improve your curb appeal typically add a great deal of value to your property. A new garage door can also improve the security of your garage.

Kitchen Remodels

When homeowners look at potential renovations, they often look at the kitchen before anything else. Kitchens are one of the most frequently used rooms in the home, which is why they can be an excellent place for homeowners to put their money.

If you are going to be remodeling your kitchen, you will want to make sure you make the right kinds of renovations. It is wise to look at comparable homes that have sold over the last few years to get a better idea of what you should be doing. In some cases, a mid-range kitchen will provide the best return on investment. In other cases, you will find that luxury upgrades are your best option.

Bathroom Renovations

Bathrooms are another smart choice for remodeling projects. You will see a higher return on investment if you focus on the right areas. Replacing worn-out items and updating fixtures is essential. You should also work to make your bathroom more function.

If you intend to list your home soon, a bathroom upgrade is particularly important. Realtors say that it can be difficult to sell a home with dated bathrooms. Look at options like installing a new vanity, replacing your flooring, and replacing your shower and tub.

Replacing Your Siding

As mentioned above, curb appeal can dramatically boost your home’s value. If a home has a beautiful exterior, people will be more excited to see what the interior looks like. While the cost of siding will vary based on whether you choose vinyl or concrete cement, replacing your old siding is a way to give your home a face lift.

Although installing new siding can be costly, you will be able to recoup a lot of what you spend. Having an appealing exterior can also make it easier to get buyers to look at your home. More interest in your home means more offers.

Installing New Windows

Old windows can have a negative impact on your home’s energy efficiency. If you have not replaced your windows in a long time, it is likely that you’re spending more than you need to on heating and cooling costs. Installing brand-new windows can boost your home’s value and save you money month-to-month.

New windows are also something that is sought after by buyers. Buyers do not want to have to worry about making these kinds of upgrades after they purchase a home. Many buyers are willing to pay more for a property that is already upgraded.

Adding Outdoor Living Space

If your home does not have a deck or a patio right now, you should strongly consider having one. Outdoor living space means more options for entertaining and relaxing at home. Many decks and patios require minimal maintenance, which means you will not have to worry about your costs over time. You do not even have to compromise on aesthetics. That’s because wood-like composite deck boards are now largely available. These look and feel like wood because they are typically made from recycled wood, plastic, and additives. You get the wooden look and feel without the high maintenance.

If you live in a home that already has outdoor living space, you should investigate renovating or upgrading it. You will want a deck or a patio to feel like an asset rather than a drawback. Retaining a wood deck can have a big impact.

What Kinds of Upgrades Should You Avoid?

Although renovating your home can be a smart way to increase the value of your investment, not every upgrade is going to provide the same kind of return. In fact, there are some renovations that can decrease the value of your home.

Pools require extensive maintenance, and they can be a safety hazard as well. For this reason, you should be wary of installing a pool in your backyard, particularly if you plan to sell soon. Wall-to-wall carpeting is another poor choice. Carpeting wears down over time, and many buyers prefer hardwood floors.

While renovations can greatly increase the value of your home, you will want to make smart decisions when remodeling your home. Some types of upgrades provide a solid return on investment, while others will not increase your property’s value by much at all. Make smart renovations with wide appeal if you want to boost the value of your home.

Category: Blog, Home & Garden
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Paul Verbiton

I enjoy spotting opportunities and doing my best to grab them if I can. I am eager to see the world, I love taking photos and writing, coming up with topics that are pleasant to read, funny, and interesting at the same time.

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