If there’s one thing that the Coronavirus pandemic has spurred on, it’s a huge increase in home improvement projects over the past year. In fact, total spend on home remodeling in 2020 versus the second half of 2021 was projected to increase by $5 million, if not more.
But the real question remains, what are the home upgrades that add value to your property? While a home renovation project is a great way to keep busy, you also want to ensure that it’s worth your while in the long run.
If you’d rather hold onto your home and avoid the real estate market at present, here are some of the best home upgrades that add value for when it’s time to sell.
1. Turn Your Basement Into Usable Space
In today’s day and age, one of the most valuable home renovation projects includes the addition of square footage to your home. So, if there are areas that you could improve upon that would increase the amount of space you have, this is a worthwhile investment.
One such area includes your basement. If it’s a cluttered, unfinished space in your home, you might want to consider clearing it out and finishing it off so that it’s a usable area.
You don’t even have to convert into anything fancy, such as a ”man cave” or entertainment space. As long as you finish it off by adding drywall, flooring, and a lick of paint, the space becomes practical.
According to HomeAdvisor, you’re essentially adding floor space to your home, which bumps up the asking price when it comes time to sell. This means you can recoup almost 70 percent of the cost you originally invested!
2. Knock Out Some Walls for Open-Plan Living
Once again, this concept applies to maximizing or increasing the amount of square footage or floor space in your home. By simply knocking down a wall or two, you can really open your space and create a beautiful flow throughout your home that makes it appear much larger.
Some of the best areas to concentrate on include partially open or enclosed areas near your kitchen, living room, dining area, or an entertainment area. Not only this, but knocking out these walls adds more light to your home, which can also make the space appear brighter and larger.
Just make sure you receive the input/expertise from a structural engineer about which walls to knock out before you remove any structurally important walls that could jeopardize your roof stability.
3. Put Some Real Effort Into Your Curb Appeal
It’s a no-brainer that the outside of your home says almost as much as the inside. When it comes time to sell, it’s your curb appeal that potential homebuyers will see first. And this is often how they judge your home, right off the bat.
Now, we’re not talking about the expensive installation of solar panel systems. There are smaller, simpler tasks you can begin with.
A good place to start is by investing in good landscaping. A well-maintained garden, fresh flowers, and a mowed lawn say that you keep your home in good condition. Think about planting perennial or annual shrubbery so that your garden remains in relatively good shape, year-round.
Another simple yet brilliant exterior upgrade you might want to consider is the replacement of your home siding. Nowadays, one of the most popular options that offers great return-on-investment is manufactured stone veneer, over vinyl.
4. Upgrade Your Garage Door
If there’s anything that can drag down your overall curb appeal, it’s an old and weathered garage door. That’s why you want to take a look at the existing door you have, and consider replacing it, or repainting it.
You can hold onto the existing motorized opener if you want to save money — all you have to do is choose and install a new door. If you can’t afford an entirely new door, you might want to DIY your garage door upgrade.
There’s nothing that a little weatherstripping, sanding, and repainting can’t fix until you can afford a new door.
5. Transform Your Exterior With Paint
Repainting your home exterior might sound like one of the simplest tasks, but it’s not always the cheapest. Exterior paint is on the higher end of the price spectrum, and if you have a big house, this cost can quickly add up.
However, you don’t have to repaint your entire home exterior to breathe new life into it. Think about your home’s key features and consider repainting those. Such as your window frames, siding, trim, and your front door.
Stick to a neutral color palette for the best home resale value, but you can have a little fun with your front door color.
6. Upgrade Kitchen and Bathroom Fixtures
Believe it or not, but fixtures can make a huge difference to the overall style, aesthetic, and modern feel of your home. You don’t have to launch into a full-scale kitchen or bathroom remodel to inject new life into these areas of your home.
It’s as simple as swapping out lighting fixtures, drawer handles/knobs, and your kitchen or bathroom faucets. These small upgrades can give these areas the modern upgrade it needs. Not only this, but it helps to create a stylish, cohesive look for these key areas of your home.
While fixture trends tend to change all the time, some of the most contemporary styles to consider include brushed nickel, oil-rubbed bronze, matte stainless steel, and brushed gold.
Home Upgrades That Add Value: Find Inspiration Here
These are some of the best home upgrades that add value in today’s world. While it’s not always easy to know what a prospective home buyer wants, you can rest assured that investing in these remodeling projects will pay off in the long run.
Don’t miss out on the rest of this site — especially our home improvement section for all the home upgrade inspiration you’re looking for! Explore topics on how to value your home, top interior design tips, and so much more.