6 Renovations That Will Increase Your Home Value

1. REVAMP YOUR OUTDOOR LIVING SPACE 
Creating a desirable outdoor living space will add significant value to your home. If you make your backyard space more appealing, your house will be more appealing to prospective buyers when you decide to sell. Homeowners that add a deck or renovated patio space large enough for entertaining, recoup about 65%-90% of their investment.

2. KITCHEN REMODEL

The kitchen is known as the heart of the home, and because of this, updates to this room almost always pay off. If you’re looking to make improvements to your kitchen, stick to easy upgrades such as new paint on the cabinets and walls, new countertops, added backsplash, and updated appliances. Kitchen remodels recoup 60%-120% of your investment, as long as it’s not overdone. You never want to make your kitchen fancier than the rest of the house, or the neighborhood.

3. BATHROOM ADDITION

If your home only has one bathroom, consider using any extra rooms or unused space to create an additional bathroom. If you’re looking to add a half bath, you will need 18 square feet while a full bath requires at least 30-35 square feet. Utilize space such as an extra bedroom, closets, or under the stairs. You can recoup about 80%-130% of your investment with this renovation.

4. ENERGY EFFICIENT INSULATION AND WINDOWS

Energy-efficient homes are one of the newest trending features in real estate. Adding Energy efficient insulation and windows will not only make your home more appealing to buyers but will help you save money when it comes to heating and cooling. You can expect to recoup 60%-90% of your costs when you invest in energy-efficient upgrades. You can also receive a green energy tax credit of 10% for this upgrade, as long as you install Energy Star-rated windows and insulation.

5. TINY HOME ADDITION

The addition of a tiny home on your property increases your amount of living space square footage which plays a role when calculating the value of your home. Tiny homes are also often used as rental space, generating an additional stream of income.

6. BASIC UPDATES

There are many basic renovations you can make to your home to ensure it stays in tip-top shape. Repainting the home exterior and adding manicured landscaping give your home a great first impression. Replacing the plumbing or electrical wiring can sound like a scary project but it is worth the investment! There are also easy things you can do such as repaint the interior with trending/neutral colors or add new hardware to cabinets and sinks. These projects will increase the value of your home and when you are ready to sell, buyers will see a well-cared-for home.