When you are choosing remodeling projects for your house, keep your personal goals in mind. Are you renovating so your home better fits your family and you thoroughly enjoy your time there? Is this your forever home and letting your personality shine through is a priority for you? Then go with the plan that brings you joy and ease. However, if you have an eye on resale value, you want to be wise when choosing what remodeling projects to tackle and which are better left for the next owner. Boosting your home’s value through these upgrades will also give you more equity in the property and put you in a better position for refinancing.
Realtors, contractors, designers, and homeowners may all have a different opinion on what details, colors, and styles are best to boost the value of your home. But nearly everyone agrees, that these projects will give you the most bang for your buck.
- Kitchen upgrade. A modern and efficient kitchen is a huge selling factor in a home. You don’t need to gut and rebuild the whole kitchen though! Less expensive projects like new energy efficient appliances, cabinet refacing, fresh paint, new flooring, and updated counter tops will catch the eye of any potential buyer. You could also sand and paint the cabinets to make them look fresh rather than replacing any parts. An eat-in kitchen with bar seating or a corner nook is very desirable. For the best return, do a moderate remodel of the kitchen rather than a total overhaul.
- Exterior upgrade. Create more curb appeal by replacing and upgrading your siding that looks worn or old. Replace wood siding with vinyl or add some stone veneer to sections for an instant upgrade. Nearly one-third of all homes now have vinyl siding, which offers a huge decrease in the amount of upkeep compared to exteriors that need to be painted every few years. A new steel or fiberglass front door gives a great first impression and a feeling of security. There are lots of colors and styles to choose from that will compliment the exterior of your home. Consider replacing worn or dented garage doors as well. Other outside features that buyers love are decks, large porches, patios, and a fenced in space. Even if you don’t plan to sell for years, you will love your new outdoor spaces. Wood decks are more cost effective than composite materials and get just as good a return. Wood is preferred over wrought iron railings around the porch.
- Bathroom remodel. Buyers are looking for a little luxury in their bathrooms, and you will certainly enjoy this remodel while you are living there. Upgrading your tub and shower will make it look clean and relaxing. New clear shower doors will make the room feel larger. Ceramic or stone flooring is highly desirable in the bathroom.
- Add a bedroom. Have some extra unfinished space in your basement or attic? Turn it into an additional bedroom and bathroom. Finish your basement to create a bar or entertaining space. While this is a larger project, you will gain extra square footage that will serve your family now and look great to potential buyers in the future.
- New windows. Not only do new windows look great, but they increase the energy efficiency of your home. In hot climates, consider windows that block heat and protect your furniture from fading. In cold climates, you can buy windows that don’t transfer the bitter cold temperatures through the glass. If you purchase Energy Star windows, you get a tax rebate as well as a better resale value on your home.
- Hardwood floors. The demand for hardwood flooring just keeps increasing. Pull up old carpet and reveal the beautiful hardwood underneath. Even if you hire a pro to sand and stain the floor, you’ll see a healthy return on your investment. If your home doesn’t have hardwood under the carpet, you can purchase hardwood or engineered hardwood at any flooring store.
When choosing areas of your home to remodel, it’s important to balance your current needs and how you plan to use the space with the way these upgrades will appear to buyers when you decide to sell. For the best return on your investment, take the time to work with a contractor who is familiar with the local market and can make recommendations that work specifically for your home.