Here Are the Renovations That Increase Your Home’s Value—and Those That Don’t

Thinking about renovation work begs the big questions: is it worth the money to completely renovate the kitchen? What about a pool or finishing the basement? The answers depend on what you want to win. If you just want to enjoy the improvements, the cost-benefit ratio is easier to calculate. However, if your primary goal is to increase resale value, choose your projects wisely – not all of them pay off by close of business.

Always make repairs first

Nobody wants to buy a home that hasn’t been properly looked after. Before thinking about adding value from renovations, make sure you don’t lose any problems in the repair. If you are not sure where to start, Schedule a pre-listing inspection to check your home’s plumbing, electrical, and HVAC systems, as well as mold and structural damage.

Illustration for article titled Here are the renovations that add value to your home - and the ones that don't

Freshen up your kitchen and bathroom

Kitchens and bathrooms are used every day and are often the first rooms to look dated, making them ideal for renovations. However, complete overhauls are a huge, expensive risk. Instead, Family Handyman recommends focusing on usability upgrades and light cosmetic updatesthat are inexpensive and popular with buyers.

G / O Media can receive a commission

In other words, your goal is to make these spaces more functional and beautiful – and not to completely change them. If your appliances, bathroom faucets, or countertops are really broken, be sure to replace them. But if not, you can probably get away with a couple of new drawer slides or a sweet backsplash. The Zillow.com Home Sellers Guide strongly recommends this Installing new vanity lights and re-caulking or repainting a bathtub spice up a bathroom without breaking the bank.

Illustration for article titled Here are the renovations that add value to your home - and the ones that don't

Prioritize the attractiveness of the curb

External cosmetic improvements make your house look nicer from the outside and improve other value-adding aspects such as weather protection and energy consumption. It’s no surprise they always come first in high ROI power renovations.

They can be as big or as small as your budget allows. Replacing the vinyl siding of your home or re-tiling your roof is a long and expensive process, but unlike a multi-million dollar kitchen remodel, it is likely to actually pay off. On the smaller side, replacing your garage door is a fantastic bang for your buck; Family craftsman, Forbes, Zillow, and Realtor.com Everyone recommends it for this reason. Replacing or even repainting your front door offers a similar return on investment.

Invest in energy efficiency

Climate change has accelerated the need for energy efficient homes, and demand will only increase from now on. All you can do Make your home better by staying warm in winter and cool in summer will probably be worth the money. This can mean that old single pane windows are replaced by double or triple windows made of vinyl. Insulate your attic, Upgrading to high efficiency equipment, or even overhauling your water heater and HVAC system. A pre-inspection should identify all major problem areas.

Add usable square meters

Adding your home’s footprint is an expensive proposition that almost always adds value. Fully finishing your basement and / or attic is a great way to do this, as is adding an aft deck. Just think about ease of use: HomeAdvisor recommends Adding a bathroom to finished basements and choosing an overall design that will keep things as bright and light as possible.

Don’t be a trendsetter

When remodeling with resale value in mind, the biggest mistake you can make is way too much compared to other homes in the neighborhood. Putting tens of thousands of dollars into custom tiles, ornate lighting fixtures, and professional equipment only makes sense if it is the norm in your market. If not, you’ve just lost a lot of money. The same goes for anything that is super-trendy. For example, manufactured stone veneer has a ridiculously high ROI right now –around 96% of the project costsAccording to Realtor.com – but it won’t do you any good if you are not fashionable where you live.

Do not put in a pool

Pools are simply a sink of money, and there is no guarantee that potential buyers will be ready for this type of long-term expense. Installing HomeAdvisor baseball stadiums in the ground alone costs $ 36,750 to $ 66,500That’s money you probably won’t get back at close of business. (It’s worth mentioning Above-ground pools never offer any added value.) The only scenario where adding a pool makes sense is when you’re the only house in the neighborhood that doesn’t have one.

Don’t break walls

Open floor plans are still everywhere, but they are growing in popularity. Think twice before you start breaking walls and opening things – it’s expensive, disruptive, potentially dangerous, and definitely not a one-way ticket to a higher review score.

Illustration for article titled Here are the renovations that add value to your home - and the ones that don't

Don’t DIY (unless you’re really good at it)

Very few things fuel the value of a home like poor DIY renovations. If you are unsure of your skills, leave this to the professionals. It is better to pay professional painters to do a great job than waste money and time doing a sketchy, half-hearted job of your own.

When planning your renovations before selling, keep in mind that these tips only apply to projects that are purely designed to increase the sale price, if any. If a project on the “Don’ts” list really appeals to you on a personal level – and you’re around long enough to enjoy it – you should do it! However, don’t expect major renovations to have a positive impact on the value of your home. Deal with major repairs and keep the rest simple.

You might also like

Comments are closed.