Home upgrades can provide several benefits to homeowners seeking to create a personalized space while adding value to the property. Despite the potential increased value, U.S. homeowners only get a 60 percent return on investment.
Making upgrades or planning a home renovation can boost your home's curb appeal, but it's critical to make wise investments to maximize the home value if you plan to sell or refinance. Researching your options can help you maximize the money you have to invest in home improvement to build more value.
From solar panels to upgraded appliances, you've found the perfect place to seek guidance on home upgrades. Continue reading to learn the eight investments you can make to boost your home value today!
1. Kitchen Remodel
The kitchen is one of the most used rooms in the home, making it a logical space to upgrade when considering home renovations. The average person in the United States spends 400 hours in the kitchen annually.
Kitchen upgrades are one of the best options if you're concerned with getting a substantial return on your investment. A small-scale remodel is the ideal way to start. Look at upgraded cabinets and add a tile backsplash to alter the kitchen's appearance.
These upgrades cost between $10,000 and $15,000, making them reasonably affordable for most homeowners. Explore the internet for inspiration to find kitchen designs you love.
2. Renewable Energy Systems
A solar installation is an overlooked option for home improvement projects. Energy prices are unstable, making budgeting and predicting monthly costs stressful. Installing solar panels can help you save money while boosting your home value.
Your solar panels will reduce your reliance on energy companies for the electricity necessary to light your home and run appliances. Working with a reputable solar installer will help you find the best collection system for your climate and surroundings. You can check out the homepage to get a price quote.
Consider an off-grid system if you want energy independence. An off-grid system will continue collecting power if the grid goes down. Your solar-equipped home will increase value and appeal to buyers craving sustainable living.
3. Update Your Bathroom
Bathrooms are a fantastic option if you're considering home upgrades to boost your house's market value. The top way to upgrade the bathroom in your home is by replacing the shower and sink.
It's also wise to consider new flooring in the bathroom. Due to the smaller space, bathroom upgrades are among the most affordable options for home renovations.
The best approach is to work with the existing design to save money. You can organize the space and upgrade the fixtures to create a new appearance.
4. Install New Flooring
New flooring is a significant selling point for potential buyers when shopping in your local real estate market. Much like the peace of mind a new roof provides, new flooring is a sizable expense the potential buyers can avoid.
If your home has hardwood flooring, consider refinishing it rather than replacing it. Refinishing is a more cost-effective option that provides many of the same benefits as new flooring.
Refinishing your flooring can cost a few thousand dollars, but you'll see a noticeable increase in your property value. New flooring provides an excellent ROI, but you'll need to invest more and get less of a value bump.
5. Finish a Bonus Room
Bonus rooms are the ideal way to create more living space for your family. The perfect situation is to improve or upgrade an existing bonus room rather than create a new one. The bonus room is an excellent way to add appeal and functionality to your home.
Upgrade the room's finish with add-ons and neutral colors. Potential buyers will have an easier time envisioning a playroom for their children when shopping for a new house. It's also an appealing way to create space for a home office when selling a home to a remote worker.
6. Install a Stone Veneer
Exterior house upgrades are an excellent way to add value and curb appeal to your home. The exterior home veneer adds a luxurious appearance, helping passersby grow green with envy.
The most cost-effective option is choosing a manufactured stone. It's a stone option that combines aggregate and cement to create a durable and consistent veneer for your house.
The best approach is to replace a portion of your home's front facade. Your home's appearance will look much better, helping you get more when listing your house on the real estate market.
7. Upgrade Your Garage Door
A reliable and durable garage door can last for decades, making it one of the best home upgrades to consider when starting a renovation project. Shop for garage doors with upgraded features to push your home value higher.
Top-panel windows add class and elegance to your home while allowing natural light into the space. Shopping for garage door options with a lifetime warranty is also wise. Your investment will provide peace of mind when living in the home.
8. Add Outdoor Living Space
Spending time outdoors can improve health and offer other benefits for your mental wellness. An exciting option to boost home value involves adding an outdoor living space to enjoy when the weather is beautiful.
A patio is a beautiful space to host family gatherings and barbecues. You can also add a wooden deck to the home to create more space to enjoy a steaming mug of coffee when you wake up.
Compliment the outdoor living space with a firepit, comfortable furniture, and a grilling station or backyard pizza oven. It's a cost-effective way to add value to your home.
Explore These Home Upgrades Today
Investing in home upgrades is intimidating, but knowing you'll get a substantial boost in home value can help you understand how to proceed. Adding solar panels will make your home appeal to more buyers while saving money on energy prices. Upgrading the kitchen and bathrooms boosts curb appeal, and installing a stone veneer improves the exterior.
Navigating the real estate market can become confusing without expert guidance. Check out our blog content for real estate tips and advice to add value to your home today!
