Wondering how to increase the value of your home? Try adding a little style and curb appeal with strategic home improvements. They’re a great way to get the most return on your investment when it’s time to sell–and in the meantime, you get to enjoy a beautiful, updated living space. But remember: not all home improvement projects are created equal. Some projects actually yield more returns than others. Read on to find out which remodel can give the most bang for your buck.
What Are the Best Ways to Increase Home Value?
Maximizing returns on your home improvement investment means choosing projects that most increase your home’s value. Renovations and remodels that increase a home’s overall square footage–room additions, area expansions, and large deck/patio installations–are all excellent choices. Certain rooms are also much more highly prized by potential buyers: kitchens, bathrooms and basements, for example, can improve a home’s value greatly once updated.
Learn How to Increase Home Value With 5 Home Improvement Projects
1. Bathroom Remodel
Average return at resale: 102%
Spacious tubs. Soothing showers. Vanities with room for two. It’s easy to see why bathrooms are one of the most popular home improvement targets, especially when you’re out to raise your home’s value. Even a minor bathroom update can deliver a high return on investment. Reglazing an old tub, removing dated hardware or wall coverings, adding new caulk, and a fresh coat of paint instantly adds increased value to a home. Replace an old vanity with a pedestal sink or put in new countertops for a clean, fresh look.
2. Landscaping Update
Average resale return: 100%
A well-kept lawn and landscaping can instantly transform any property. Whether you go with colorful flowers, elegant shrubs or orderly hedges (or even a mix of all the above) a healthy dose of green is a great way to spruce up your home while doing something kind for local fauna.
But landscaping means more than just planting. A charming focal point like a walkway or fountain can also add major value to a property. Make your lawn or garden picture-perfect with pavers, stepping stones and even simple crushed rocks.
3. Kitchen Remodel
Average resale return: 98.5%
The kitchen is the heart of the home. The time you spend remodeling or renovating it will be well worth the time, money and effort when you see the results–and the improved property value.
- Brighten up any kitchen by sanding and painting existing cabinets – it’s much less expensive than buying new ones.
- Add decorator detail without the cost by swapping out drapes and window molding.
- Stick with neutral colors (shades that match most furniture or decor) for walls and window treatments.
- Visit your local granite dealers for affordable remnants or even free remnants you can have cut and installed at a bargain.
4. Exterior Improvements
Average resale return: 95.5%
Make a great first impression with fresh siding–and maybe even a new front door. After all, it’s the first thing potential buyers will see when they visit your home. Vinyl siding has an average return rate of 95.5% while upscale fiber-cement siding has an even better recoup rate of 103.6%.
Siding typically sees a lot of wear and tear through the years. Replacing it, rather than painting it (a gallon of paint can only cover 400 square feet of a house) is a smart choice for improving curb appeal.
5. Basement Renovation
Average resale return: 90.1%
For buyers, basements represent possibility. A finished basement can become anything: a movie theater, a sports bar, a workout space, a playroom…the possibilities are endless. That’s why basement renovations have become such value-adding projects for raising home value. But before you dig in, first things first: fix any flooding problems first. Test to make sure solution works before investing time or materials in a basement. Losing your improvements to easily avoidable water damage is an expensive lesson to learn–especially if you find out after you’ve sold the home, and from angry buyers.
What Are Some Additional Ways to Increase Home Value?
Upgrade to Energy Efficient Features and Appliances
The future is green–and so are some of the most popular current home improvement projects. With interest in sustainable living on the rise, energy-efficient renovations and remodels are trending. After all, who doesn’t love the idea of saving on utilities bills?
Going green doesn’t have to mean spending a lot of green. There are simple things you can do to make your home more energy efficient and raise its value:
- Add a smart home thermostat that offers remote control of air conditioning, heating and lighting.
- Swap outdated, high-energy appliances in the kitchen and bathroom for Energy Star-rated appliances.
- Seal any air leaks around windows, doors and other openings between the interior and exterior of your home.
Deep Clean The Hard to Reach Places
Cleaning is one of the simplest, easiest and most affordable improvements you can make before selling your home. It’s also a great way to help a prospective buyer envision themselves living there: clean houses look “unused,” and even if they’re not exactly new, they’re “new to you” for buyers.
Shop carefully for cleaning solutions rated for different parts of your home. Paint can become more vibrant, baseboards can shine brighter and appliances can look brand-new again with the right product. For example, hard water stain removers can be quite abrasive, but also make faucets and shower doors sparkle.
And of course, if you’re planning to sell soon, be sure to throw out any damaged goods or trash around the house–clutter can turn off potential buyers.
Freshen Up With a New Coat of Paint
Inside or outside, a freshly painted home has a unique curb appeal–especially when you take the time to choose the right colors. Just as flooring trends come and go, so do paint trends. Every year, different shades become the flavor of the week, transforming individual rooms or even entire homes. You can go bold with one of the year’s popular colors…or you can play it safe and choose a neutral tone that everyone likes: beige, off-white, and gray, for example, match everything. No matter which you choose, a new coat of paint is a simple and affordable way to boost your home’s value.
How to Budget and Pay for Your Home Improvement
Home improvements are investments in your home’s value–and in your future. But you don’t have to depend on a credit card to fund those improvements. A personal loan can provide the resources you need to get the job done quickly and efficiently. Apply now to get the best possible interest rate.