Home Renovations That Add Value for Home Buyers

Renovating your home improves its functionality and aesthetics, but when you are writing the checks, you may be wondering if you are increasing the value of your home. For example, we would all love a pool in the backyard, especially when it is hot outside, but it may not be the best place to put your hard-earned money. What home renovations add the most value? Keep reading!

Kitchen Remodels

The best home renovation for ROI is a kitchen remodel. Buyers love a move-in ready kitchen and prioritize homes that have a functional layout and modern, upgraded features like stainless steel appliances and stone countertops.

You may not need to gut your entire kitchen for these home renovations to pay off. Spend your renovation money wisely by doing things that will attract the most positive attention. For example, if your cabinets are structurally sound, consider getting new doors or even just repainting them or changing the hardware for an updated look.

New countertops are a great home renovation to add value to your kitchen. Although these can be expensive, buyers will notice a high-quality countertop immediately. Along with the countertop, consider updating the backsplash, which can be done relatively inexpensively. You can DIY a backsplash with a little bit of training and patience. Switching outdated fixtures for modern ones with improved functionality is one of the most cost-effective home renovations that add value to a home.

Bathroom Upgrades

The second-best home renovation for ROI is a bathroom upgrade. A shiny, modern bathroom can impress a home buyer almost as much as a beautiful, functional kitchen. Just like a kitchen remodel, a bathroom upgrade does not need to involve gutting and rebuilding the entire room.

If your tile is not outdated, consider re-grouting it instead of replacing it. Sometimes, changing the fixtures (the toilet, vanity and sink) is enough to give the bathroom a fresh appearance. Be sure to shop around for these items, as you can often find them at discounted prices.

If you only have one bathroom in your house, consider adding a powder room. This will, of course, be more expensive and require the help of a contractor, but it is one of the best home renovations to add value for today’s home buyers.

Curb Appeal

Great curb appeal creates an excellent first impression that makes your home stand out and sets the tone for the rest of the house showing. If you want to do home renovations that add value, improving the exterior is a low-cost way to yield returns.

Some ways you can improve your home’s curb appeal are painting the house or replacing the siding, switching the front door for a higher quality one, augmenting the landscaping with attractive plantings, mulch, and walkway lighting, or even just power washing the driveway, garage, walkways, and siding.

Energy-Efficient Upgrades

Energy-efficient upgrades are some of the most valuable home renovations you can make. Not only do they increase your resale value, but they also lower your costs while you are still living in the home.

There is a range of improvements you can make, some of which you can do yourself inexpensively and others that have a higher initial cost outlay. For example, you can install smart thermostats on your own, and these will save you money while signaling to buyers that your home has modern upgrades. You can also add additional insulation in your attic and basement quite easily.

Other home renovations that add value are high-efficiency windows and doors, an energy-efficient HVAC system, and solar panels on the roof.

Be sure to check for government incentives such as rebates or tax breaks for these improvements. These are often available at various levels of government.

Basement and Attic Conversions

Additional usable space increases the square footage of your home, which is a major factor in the value of a home. In the basement, consider adding a guest suite or rental unit. As a bonus, you can earn extra income by renting it out if you do not plan to sell right away. You may also find that there is more space in your attic than you thought. Converting that space into an extra bedroom, office space, or a room for children to hang out Is one of the best home renovations to increase the value of your house.

If you are adding a basement suite, be sure to follow building code regulations as to ceiling height and avenues of egress. A legal basement suite is much more attractive to buyers than one that isn’t, but they will need to renovate after they move in.

Flooring Upgrades

New flooring can dramatically enhance the appeal of your home. Today’s buyers look for hardwood, luxury vinyl plank, high-quality laminate, and tasteful tile in bathrooms and kitchens. Changing your flooring is one of the easiest home renovations that add value to a house.

Consult with a flooring specialist for the latest products, as there are frequently new and exciting flooring options available. Opt for something water-resistant and durable, and avoid wall-to-wall carpet! You can save money on this renovation by removing your old flooring before the new product is installed.

Conclusion: Maximize Your Home’s Value with Smart Renovations

If you plan to spend money on home renovations, invest in those renovations that will make your home more attractive and valuable to buyers. Not all home renovations have the same ROI, so prioritize the ones where you will be able to recoup as much of your investment as possible.

If in doubt, consult with a qualified real estate agent; a good real estate professional will know what renovations add the most value in your market, and which will be a cash drain. Tap into their expertise for the best advice!