There are a few obvious projects that add value to your home, like making upgrades in the kitchen and bathroom or improving curb appeal through landscaping. When you’ve exhausted those options, what else can you do? Here are some less obvious places to invest resources and improve your home’s resale value.
Add Value to Your Home Through Major Property Alterations
For many people, the first project that comes to mind when trying to add value to your home is to build an extension. Not only is this disruptive and expensive, but you’re also not guaranteed a return on your investment. Instead, consider other major improvement projects that add value to your home.
The square footage of your home is calculated based on livable, finished spaces, which means you don’t get any credit for your basement if it is unfinished. Insulate any unfinished spaces before adding walls, flooring, and a ceiling.
Add Value to Your Home With a Roof Replacement
Roof repairs and replacements are daunting and expensive. If your roof is nearing the end of its life (around 20 years), replacing it will make it more attractive to buyers.
Knock Down Walls
Open-plan living spaces are more desirable to buyers than houses with segmented rooms. Consider knocking down a (non-loadbearing) wall if it would allow free movement between two living areas in your home.
You could open up the kitchen to the dining room or the kitchen to the living area, or possibly even unite all three into one large space. This update will be well worth the expense long-term.
Increase Energy Efficiency
To differentiate your property from similar homes on the market and raise its value, it’s worth improving your overall energy efficiency.
Install Solar Panels to Add Value to Your Home
Not only will installing solar panels make your home more energy-efficient, but they will also raise its value. Homes with solar panels increase in value by around four percent. This only applies if you purchase the solar panels outright rather than leasing them.
Among all the projects that add value to your home, replacing the windows just might be the best choice. Energy-efficient windows aren’t flashy or exciting, but they do significantly lower your heating and cooling costs and improve curb appeal.
Replace the Front Door
An inefficient front door with inadequate weatherstripping increases your energy costs. Replacing an old wooden front door with a fresh, new, energy-efficient insulated steel model is a smart move.
If you’re getting ready to conduct showings, it’s even more important to spruce up your front door, as it plays a major part in the first impression potential buyers get upon arrival and entrance to the property.
Small Projects That Add Value to Your Home
Not all the projects that add value to your home are major undertakings. Small changes will also make a big difference in your home’s value.
Bold or bright colors turn some buyers off, making it difficult for them to picture themselves in such a personalized space.
If you’re due for a new coat of paint anyway, make it something neutral. At the very least, touch up any imperfections in the current paint job.
Hardware & Fixtures
Doorknobs, switchplates, and outlet covers are small accessories that have a big impact. Switch out builder-grade hardware for higher-end replacements as a quick weekend project that adds value to your home.
While you’re at it, update the cabinet and drawer pulls in the kitchen and bathrooms, and if you have the budget, install new light fixtures. These affordable upgrades will transform and modernize the spaces in your home.