From the day you moved into your home, you’ve been making plans—and turning those plans into improvements and renovations. Some are a matter of personal style. Some are about updating original features. But if properly executed, every project—indoors and outside—can increase the value of your home.
It’s smart to know what home renovations can add the most value—and biggest bang for your buck. Before you decide on a remodel project, consider doing your own simple cost-benefit analysis to help decide whether a project is worth your time and money.
Here are a few of the more common types of home renovations that can increase value when you decide to sell—and make your home a little sweeter until you do.
1. Adding on can add up to a bigger profit.
Building an addition isn’t just about creating a baby room, a rec room, or just plain elbow room. It’s also a great way to add value—all those additional square feet can add to the price you get when you sell.
Whatever you’re thinking of adding, from a fourth bedroom to a second story, an addition is the biggest investment you make in your home. you most likely won’t recoup the full cost of the project, an addition can yield the biggest return when it comes to resale value. And in the meantime, you’ll enjoy a home that’s more practical and comfortable.
2. Get cooking on that kitchen re-do.
The kitchen is the heart of any home. Whether you do a refresh or a complete re-do is obviously up to you. But when it comes to net return on your investment, you’re probably better off updating cabinets and appliances and installing a new countertop, sink and fixtures than knocking out walls and starting from scratch.
3. Bump up the bathrooms.
Even a minor bathroom remodel can be a major selling point. You might actually get back more in terms of your home’s value than you invested in the upgrades. Replace the tub, tile surround, floor, toilet, sink, vanity and fixtures. Consider replacing shower doors—or removing them to make the room seem larger. If your tub is too heavy or unwieldy to remove, you can make it look like new by reglazing it. And if your house has just one bathroom, adding a half-bath can make it more attractive not only to guests, but prospective buyers.
4. Get down with a basement remodel.
You have all that space down there collecting clutter, dust, spiders and maybe moisture. It can be a significant investment, but a remodeled basement can also be a big selling point. Recessed lighting, new flooring with a proper moisture barrier, new windows, finished walls and ceiling, maybe a wet bar and a small bath can truly transform that dark, musty space into a great place to hang out. But before you start, make sure you address any moisture or flooding issues. You may need to install French drains or even re-slope the yard to keep water out.
5. Look into replacement windows.
Installing new windows is one of the most effective home improvement projects for increasing the value of your home. There are a lot of factors to consider, but a general rule of thumb is you may recoup around 70% of the cost when you sell. In the meantime, you’ll enjoy a home that’s more attractive and more energy-efficient (today’s windows offer everything from low-E glass to multiple panes filled with insulating gas). You’ll also reduce noise from traffic and the neighbor’s kids, while enjoying increased security.
6. An open and shut case for a new garage door.
If your garage faces the street, it’s a prominent part of your home’s exterior—and a big factor in its curb appeal. Replacing a tired, boring garage door is a smart, simple, cost-effective way to enhance the appearance of your home. You have a range of colors, styles and materials to choose from, and a lot of benefits to enjoy—including easier maintenance and greater security.
7. Add some green—and some value.
Think about your own home buying experience and how important first impressions can be. Prospective home buyers tend to size a house up pretty quickly based on the outside of the house—and that includes the front yard and the way it’s landscaped. There truly is value in creating an eye-catching combination of greenery and so-called “hardscaping” elements such as retaining walls and walkways. Depending on how green your thumb is, you might consider tapping the skills of a professional landscaping company. And don’t be bashful about using your neighbors’ properties as inspiration.
The bottom line is your comfort level.
Now that you know a little more about how to increase ROI on home renovations, it’s up to you to weigh the costs vs. the potential gains and decide whether a renovation project is a worthy investment of time and money.
At Frontdoor®, we know you love getting things done around the house. Staying in control of your to-do list is easier when you can keep the small things from turning into bigger—and more expensive—ones. We’re here to make it easier to prevent problems instead of reacting to them.
Want to learn more about renovations—or anything else having to do with maintaining and improving your home? Download the app if you haven’t already, and chat with a helpful, friendly Frontdoor Expert.
Frontdoor assumes no responsibility, and specifically disclaims all liability, for your use of any and all information contained herein.