20 Home Renovations That Instantly Increase Your Home Value
Updated: Oct. 20, 2022These are the top renovations that increase home value. Some are easy and inexpensive updates that you can do over the weekend.
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Enhance Decks with Lighting
Landscape lighting may seem like a complicated DIY project, but low-voltage lighting systems are actually a job any beginner can tackle. And if you make your deck the focus, the extra visibility will even add a certain level of safety. Low-voltage systems are much less dangerous than standard household wiring because the system relies on a transformer plugged into a standard GFCI receptacle. That converts power from 120 volts to 12 volts, then the current travels through outdoor cables to supply power to the fixtures.
Install a Kitchen Backsplash
The kitchen is full of big-ticket items, but the backsplash doesn’t have to be one. In fact, you can comfortably install a backsplash in just one weekend. Plan on installing the backsplash tiles on Saturday and grouting and sealing them Sunday.
Upgrade Kitchen Lighting
Kitchens are the new multi-purpose room. Not only do they need to accommodate the cook, they also serve as a workstation for kids and adults, a gathering space for family meals and dinner parties — the list goes on. While kitchen lighting plays a big role in setting the mood for these tasks, it’s easy to come up with a custom solution to suit your family’s needs and the restraints of the existing wiring.
The Biggest Bang for your Buck
A fresh coat of paint instantly updates and transforms the entire interior of your home, and when you consider that the average price tag of a gallon of one-coat coverage paint is around $38, that’s about the biggest bang for your buck you can get. “Grays are back in vogue, and create a neutral palette that lets your decor really pop,” says Steve Frellick, licensed contractor and founder of Yonder Luxury Vacation Rentals.
Loose Fill Attic Insulation
Adding attic insulation is one of the best best home investments, often times recouping its entire cost in added value to the home. Insulating an attic will also save money on energy costs.
Steel Door Replacement for Entryway
Installing a steel entry door will add to your home’s resale value. It makes a statement right when potential homebuyers go into your home.
Manufactured Stone Veneer
A manufactured stone veneer project remains high on the list of valuable home updates as well. It provides a modern look at an acceptable price whether you’re hiring out the work or going DIY.
Garage Door Replacement
Replacing a garage door is big for curb appeal, and it’s also big for recouping the cost of the project.
Fiberglass Entry Door Replacement
On the list of upscale remodeling projects, a fiberglass entry door replacement recouped 85 percent of the cost.
Siding Replacement
Appraisers typically look at the structural elements of a home as part of their process and siding usually plays a part in that. Replacing siding increases value instantly.
Window Replacement
Addressing your windows isn’t just window dressing. Potential buyers will notice them and so do appraisers. Vinyl and wood have comparable recoup rates but wood has a higher average cost and nearly one percent less recoup rate. If you’ve got questions about buying new windows, get the answer to them before you buy. Read about how much window replacements cost.
Universal Design
Aging-in-place or universal design is gaining traction among baby boomers who’d rather continue to live in their homes than have to move later in life. Universal design involves reworking a home so it functions for wheelchair mobility and adds safety features like grab bars in convenient places.
Roof Replacement
The roof is one of the most important parts of a home, so fixing roof problems and replacing when needed is an important project that home buyers will notice. It also turns out to be a pretty good investment.
Deck Addition
A wood deck addition falls on the inexpensive side of remodeling projects, but it’s one of the more valuable.
Smart Home Technology
Smart devices are infiltrating homes at increasing rates. Statista, a market research firm, found 33 percent of homes have one connected device and that number could rise to 60 percent by 2021. These smart devices can even detect leaks in your water heater.
Simple Fixes and Details
Simple fixes like working on the lighting of a home not only cast a new light on the home but also show the level of care given to the home. Buyers notice the little items and it’s important to show those. Washing windows can spruce up the house in a hurry.
Cover Up Wear by Repainting Walls
The paint on walls gets chipped through the years or maybe you’ve got crayon marks from kids you’ve wanted to clean up. Replace those holes in the wall from hanging items by painting. Experts suggest using neutral colors when painting rooms. For tips on painting check out our resources. Or update an old popcorn ceiling.
A Finished Basement Increases Value
An unfinished basement can save money on buying a house but a finished basement instantly adds value to the home. The amount of added useable square footage comes at a lower cost usually than an addition. Plus, the space can be reimagined for uses by the buyers.
Rip up Carpeting and Install Hardwood or Laminate
Hardwood and laminate flooring is comparable in price to luxury carpets but comes without the hassle of continual vacuuming. Plus, these types of flooring are durable and you don’t have to worry about stains as much. It’s fairly simple to install as well.