Increasing your home’s value can seem daunting, but with a few easy upgrades and improvements, you can add real dollar value to your most valuable asset. As a homeowner, you want to make smart investments that will pay off when it comes time to sell. Follow these 6 easy tips to get the most bang for your buck.
Curb Appeal Matters
First impressions matter. Increase your home’s kerb appeal to instantly boost its value in the eyes of potential buyers. You don’t have to do a total landscape overhaul to make a noticeable difference.
Here are some simple ways to increase curb appeal:
- Give the front door a fresh coat of paint in an inviting color. Black or red are classic and bold.
- Power wash surfaces like siding, sidewalks, and driveways to remove dirt and grime.
- Mow the lawn, trim hedges, and clear out overgrown bushes. Neat landscaping shows pride of ownership.
- Add blooming plants, pots of flowers, or a stone garden path to create warmth.
- Repair and replace any damaged parts of the home exterior like shutters, gutters, handrails, and lights.
- Upgrade exterior lighting fixtures to enhance nighttime allure. Try smart lights.
- Remove clutter and outdoor furniture to open up the space. Stage it like a model home.
- Install a new mailbox or house numbers to polish off the look.
Spending a weekend on the above can make your home gleam and get buyers lining up at the door. Little touches go far when it comes to first impressions.
Give the Kitchen an Update
The kitchen is the heart of the home. A remodeled kitchen could add an estimated 96% return on investment. With smart upgrades, you can modernize your kitchen without breaking the bank.
Consider these impactful kitchen upgrades:
- Install new cabinet hardware like knobs, pulls, and hinges for visual interest. Matte black and brass are trending.
- Paint cabinets in a fresh white or grey tone to look current. Don’t forget the insides too.
- Replace old countertops with durable quartz or granite with interesting patterns.
- Swap out a dated sink and faucet for sleek stainless steel models.
- Upgrade kitchen appliances like the range, refrigerator or dishwasher in stainless steel.
- Add a subway tile backsplash for texture and color. Use a mosaic or marble for luxury.
- Install pendant lighting over islands and counters for stylish task lighting.
- Replace flooring with new vinyl plank, tile, or hardwood with waterproof protection.
With smart upgrades like these, your kitchen can offer maximum appeal without the headaches of a full demolition and rebuild. New surfaces and finishes go far in boosting value as well as enjoyment while living in the home.
Update Existing Bathrooms
Bathrooms are another selling point, so updates here add value. Turning an outdated bathroom into a sanctuary can happen with minor upgrades and touches.
Some simple bathroom upgrades include:
- Replace builder-grade vanities with new floating or console wood cabinets for modern appeal. Add closed storage too.
- Install new quartz or granite countertop and undermount sink to elevate the style.
- Swap in new faucets and shower heads/wands in brushed metals like nickel or bronze.
- Add accent tile in the tub/shower surround or as an accent stripe. Use marble or glass for high-end flair.
- Update lighting fixtures above the vanity and shower to contemporary styles.
- Add a large mirror or medicine cabinet to open up small spaces. Freestanding storage is a plus.
- Fresh paint in light, neutral colors makes spaces feel clean and airy. Don’t forget the ceiling.
- Replace worn flooring with non-slip porcelain tile. Large format is trendy.
- Add fluffy new bath towels and shower curtains for the finishing touch of luxury.
Even small changes like new fixtures, mirrors, and fresh paint can make existing bathrooms look brand new. Focus on the areas future buyers will inspect closely like vanity and shower tile.
Enhance Curb Appeal With Landscaping
Well-designed landscaping does more than just look nice. It provides the cornerstone of first impressions while boosting your home’s value. According to Zillow, quality landscaping can add as much as 5% to your home’s overall value, not to mention make it sell faster.
You don’t have to shell out for a total landscape design overhaul to realize these benefits. A few enhancements can go a long way:
- Add flowering shrubs and bushes along the foundation. This “living skirt” softens hard edges and adds color and texture. Choose low-maintenance varieties like hydrangeas, azaleas, camellias, or knockout roses.
- Plant decorative trees to frame the home. Small ornamental trees along walkways or in corners draw the eye. Japanese maples, dogwoods, magnolias, and cherry blossoms add four-season interest.
- Edge the yard and beds with stone or pavers. This gives a refined, clean finish. Use Belgard, Versa-Lok, or Unilock brands. A basic paver patio also boosts livability.
- Mulch generously around trees and in beds. Fresh dark brown mulch makes everything look neat and intentional.
- Add accent pieces like potted plants, garden art, or an arbor. These details personalize outdoor spaces.
- Install landscape lighting. Up-lighting on trees or spotlights on architectural features look amazing at night.
A professional landscape design with new sod and a built-in irrigation system is great, but the above tips provide the most bang for your buck. Curb appeal is about first impressions, so target what people see from the street.
Make Interior Improvements
Interior updates don’t have to drain your renovation budget to add value. Focus on high traffic spaces and visible areas like entryways and living rooms.
Some easy ways to upgrade the interior include:
Update Flooring
- Replace worn carpet with durable engineered hardwood or luxury vinyl plank flooring.
- Upgrade tile in heavy use areas like entryways. Use porcelain or natural stone tiles.
- Sand and refinish existing hardwood floors for like-new beauty.
Paint
- A fresh neutral color palette looks light and airy. Stick to light greys, creams, and subtle blues.
- Paint ceilings white to maximize brightness.
- Add accent colors thoughtfully in entryways, bedrooms, and bathrooms. Avoid bright shades.
- Upgrade to high-quality matte finish paint for a luxurious feel.
Doors and Trim
- Paint or replace dated interior doors with modern styles like Craftsman or shaker.
- Widen doorways where possible for an open flow.
- Crisp white painted trim looks updated and clean. Accent with black for contrast.
Lighting
- Update lighting fixtures in entryways, kitchens, and bathrooms for contemporary styles.
- Add stylish drum or lantern pendant lights over staircases.
- Install dimmers for ambiance control. Dimmers also extend bulb life.
More Touches
- Remove outdated wallpaper and texture for smoother walls.
- Upgrade baseboards to wider, heavier styles.
- Add architectural interest with crown molding, built-ins, or wainscoting.
Cosmetic interior updates give your home a ‘facelift’ that modernizes it in buyers’ eyes. Focus on improvements that lighten and brighten. Darker shades date spaces, so keep wall colors neutral. For a moderate budget, painting, refinished floors, and new light fixtures make the most impact.
Increase Energy Efficiency
Increasing your home’s energy efficiency pays off in two important ways. First, it lowers utility bills while you live in the home. Second, energy efficiency dramatically appeals to buyers and adds value. It indicates a quality, well-maintained home.
According to the US Department of Energy, adding energy efficient upgrades before selling can increase a home’s market value. Here are 6 smart upgrades to consider:
- Update exterior doors and windows with ENERGY STAR models. This prevents costly air leaks while lowering heating/cooling bills.
- Install extra insulation in attics, basements and crawlspaces. Top up existing insulation that may have settled.
- Seal air leaks throughout the home with caulk and weather stripping. Target areas like baseboards, windows, and door frames.
- Replace aging appliances with new ENERGY STAR models to reduce electricity costs and emissions.
- Upgrade heating and cooling systems to more efficient Carrier Infinity or Trane models that offer smart thermostats and improved performance.
- Install rooftop solar panels to reduce and even zero out electric bills. This adds a premium to home value as energy costs climb.
The cost of energy efficient upgrades pays for itself over time. A new owner will appreciate and benefit from reduced energy usage and utility bills, so these upgrades directly translate to real dollar value.
Boost Livability and Function
Besides surface-level aesthetics, home features that improve livability, function, and flow also translate into increased value. Smart renovations that make day-to-day life in your home easier pay off.
Consider these livability upgrades:
- Create an open floorplan by removing non-load bearing walls between rooms like the kitchen and dining. Openness adds light and a modern style buyers want.
- Upgrade small, closed off kitchens by enlarging openings into surrounding rooms to improve flow.
- Add stackable laundry appliances or utility sinks to second floor laundry rooms to maximize functionality in small spaces.
- Remodel cramped galley style kitchens by knocking down walls to create a more spacious L-shaped or U-shaped footprint.
- Add a backyard deck, patio or screened porch to extend living space outdoors. Outdoor living spaces rank high on buyer wish lists. Even a simple paver patio adds value.
- Convert underutilized spaces like attics or basements into functional living areas. Adding legal bedrooms, a rec room, home office or in-law suite can realize big returns on investment.
- Create sightlines between rooms. For example, open the wall between the kitchen and living room. Removing visual barriers makes spaces feel larger.
Any upgrade that improves how well your home functions on a day-to-day basis adds value by meeting buyers’ needs. Livability features make homes more enjoyable to live in.
Summary
The above ideas focus on maximizing your home improvement budget for value-boosting impact. Large-scale overhauls look amazing on reality TV but aren’t always practical. With strategic upgrades in key areas like kitchens, bathrooms, and curb appeal, you can stage your home to sell for top dollar without breaking the bank.
The most important tip is focusing your time and budget on the areas future buyers will notice and appreciate the most. Minor upgrades can make a noticeable difference. And completing fixes and improvements that boring but essential (like roof and appliances) will prevent issues that turn buyers away. Invest wisely in updates that increase enjoyment while living in your home and also pay off when you go to sell.
Frequently Asked Questions
Here are answers to some common questions on home upgrades that increase value:
What are the best home improvements for resale value?
The best upgrades for maximizing resale value are bathrooms, kitchens, flooring, exterior paint or siding, curb appeal, and energy efficiency improvements like new windows. Upgrades should modernize and update the most-used spaces without going overboard on custom work.
Do home improvements increase property value?
Certain strategic home improvements can increase property value, yes. Upgrades that increase functionality, livability and visual appeal are your best bet. But upgrades should be done wisely with the goal of selling since you likely won’t recoup the cost of high-end custom renovations.
What small renovations add the most value?
Some of the best small renovations for adding value are paint, new flooring, updated light fixtures, new hardware and faucets, refreshed landscaping, and deck additions. Adding built-ins, pedestal sinks and other upgrades that maximize space also add value without breaking the bank.
Should I renovate my kitchen before selling my house?
Renovating your kitchen before selling can add significant value, yes. According to the Remodeling 2022 Cost vs. Value Report, minor kitchen remodels recoup about 80% of costs on average while major remodels are roughly 60-70% recouped. Focus on cosmetic changes like painting cabinets, adding new surfaces and contemporary fixtures over cabinet tear-outs since you likely won’t recoup full demolition costs.
How much value does a bathroom add?
Bathroom upgrades are estimated to recoup about 80% of costs on average for an average ROI of about 20%, or up to $25,000 in increased value for larger homes. Replacing fixtures, sinks, toilets, tile, and vanities for light, neutral designs has the biggest payoff. Adding a full master bath to homes with only one adds about 20% in value or more.
What renovations don’t add value?
Renovations that typically don’t add resale value are overly customized work like premium appliances or finishes, adding luxury features like a pool or hot tub, finishing high-end basements, and over-improvement based on neighborhood norms. Also, avoid quirky designs that turn off conventional buyers. Stick to classic designs with mass appeal.
Conclusion
Smart home improvements add real value and equity by making your home shine compared to the competition. Focus on the projects and spaces future buyers care most about. Time it right by completing renovations and repairs just before listing so their payoff potential is maximized. With strategic upgrades tailored to buyers’ wish lists, you can sell your home faster and for top dollar. Use this guide to find the right balance between boosting your enjoyment while living in your home, and investing wisely for future sale.