The impact that an upgrade or small renovation has on the value of a property is always hard to estimate. However, there are small things you could do to your home that could have a large effect on the value of your property — and you may be ready to snag a little bit more profit if you were planning on selling the place.
Below are eight essential renovations for boosting the value of your home, plus some tips on what’s best to upgrade based on your home’s location.
Upgrade Your Kitchen
Upgrading your kitchen is a great place to start. Why? Because kitchens take up a lot of space, they’re expensive, and they typically have high resale values.
So, if you’re going to spend money on one room or area of the house, this is probably where you should start thinking about spending some money now so that it will pay off when it comes time to sell.
When you upgrade your kitchen, you’re not only adding value — but also improving functionality and comfort in your home.
A well-designed kitchen can accommodate modern appliances and become an extension of your living space. Any renovations must work with your existing layout, so consider working with a designer before starting any projects if needed.
Add a Bathroom
Adding a bathroom to your home will not only add value, but it can also help you sell your house for more money. Here are some examples of how adding a bathroom can help you sell your house for more money:
You can rent out the first floor of your home as an Airbnb guest house. The extra income from renting out rooms in your home can help offset the cost of building an addition, including the cost of the bathroom.
If you’re planning to move out of state or even out of the country, you’ll be able to sell your home faster if it has at least two bathrooms.
Adding a bathroom can make it easier for your family members to use different parts of their home at different times without having to argue over who gets dibs on the main bathroom.
Update Your Electricals and Add Outlets
When you update your electrical system and add outlets, you’re able to make more room for more electrical devices — which means more ways for potential buyers to enjoy their time in the home.
For example, if you have an extra power strip on the floor next to the bed, it makes it difficult for someone who may have physical limitations (i.e., seniors) or children to plug in their devices without having to crawl under or around the bed.
An easy fix would be adding outlets near each bedside table, so there’s no need for plugging things in on the floor anymore.
Turn Your Basement Into a Functional Living Space
Basements are often unused, dark, and damp areas of the house that are often ignored by buyers. If you turn your basement into a usable living space, however, it could increase the value of your home significantly.
You might want to consider adding an extra bathroom or kitchenette so that it can be used as a guest room or office instead of just storage space.
Replace Your Roof
While it might not seem like the most exciting project, replacing a roof is one of the best ways to make sure your home stays in good condition. Rotten or damaged shingles can lead to leaks, which can cause water damage and affect interior aesthetics.
If you’re planning on selling your home in the future, it’s important to have a new roof installed before listing it for sale, so buyers don’t see the damage before they’ve even made an offer on your house.
Add a Garage Door Keypad
You don’t have to be getting into your car to open your garage door anymore. This upgrade makes getting in and out of the garage much easier. It also makes it safer for those who live alone or have mobility issues.
They don’t have to worry about remembering their keys when they leave their vehicles in the garage overnight or during cold weather conditions when they need an escape route from their homes without having to go back inside first.
Upscale the Curb Appeal
If your home looks like it’s falling apart or has been neglected for years, potential buyers will probably think twice before making an offer. Curb appeal is one of the first things that potential buyers notice when they drive by your house — so make sure yours is inviting with fresh paint and new landscaping.
When people see that you’ve gone out of your way for them, they’ll be more likely to make an offer on your property — even if the weather isn’t cooperating on their initial visit.
Replace Your Windows
Windows are one of the easiest ways to improve the look of your home and increase its value. They also help reduce energy bills by keeping in heat in the winter and cool air in the summer. New windows can help increase curb appeal as well as allow more light into each room of the house.
Adding all of these projects to your home will not only give you a practice area they will also contribute to the value of your home.
You can sell your home in today’s market at a premium if you do it correctly, so make sure that you plan before making these improvements and consider any quality upgrades, no matter how small. You’ll be glad that you did.