One of the biggest assets that you have is your home. Not only is it a place to live, but it’s also an investment. Like any investment, you want to make sure that it appreciates in value over time. Fortunately, there are a number of renovations and additions that you can make to your home that will boost its value. Here are 10 of the best:

1. Kitchen Renovation

A beautiful, modern kitchen can add tens of thousands of dollars to the value of your home. If you're planning to renovate your kitchen and recoup most of your investment, it's best to go with a minor, mid-range kitchen remodel. This will typically involve refacing your cabinets, replacing your countertops, updating appliances, and painting the walls and ceiling. On average, a kitchen remodel costs about $28,000, and homeowners can expect to recoup around 71% of the cost.

2. Roof Replacement

A roof replacement is a great way to add value to your home, especially if you live in an area with extreme weather. A new roof will protect your home from the elements, and a green roof can help you save on energy costs.

In some cases, a roof replacement might be more of a "need" than a "want." If your roof is over 20 years old, it’s probably time for a replacement. If you want to replace your roof, the first thing you will need to do is find a roofing contractor Indiana and get an estimate. The average roof replacement cost varies depending on the roofing materials, the size and pitch of your roof, and your location.

3. Energy-Efficient Windows

If your home has single-pane windows, you’re missing out on a lot of potential energy savings. Replacing your old windows with energy-efficient windows can help you save money on your heating and cooling bills, and it will also add value to your home. In general, energy-efficient windows will pay for themselves in energy savings within two to three years. After that, they will start to increase the value of your home.

4. Solar Panels

In sunny places like California, solar panels can help you save money on your energy bills and increase the value of your home. Solar panels might be a good option for you if you live in an area with high electricity rates. While they seem like a huge upfront investment, a popular option is leasing the system (though you can't increase your home value this way) or financing it rather than buying it outright. When investing in solar energy, you have a few different options:

• Solar Roofs: The most expensive option, Tesla’s solar roofs are an aesthetically pleasing way to add solar panels to your home.
• Solar Panels: The most popular option is installing solar panels on your roof or on the ground.
• Solar Water Heaters: A more affordable option, solar water heaters can help you save money on your energy bills.
• Battery Storage: Usually an add-on to solar panels, battery storage can help you save energy and money by storing energy for use during peak times or power outages. Your local energy company may also buy back some of your excess energy and you'll be able to access it in the event of a blackout.

5. Hardwood Floors

Hardwood floors are a classic feature that never goes out of style. If your home doesn’t have hardwood floors, installing them is an excellent way to keep your home in good condition. Since carpeting can be stained and worn, hardwood floors are a selling point for many homebuyers. They’re also easy to clean and maintain. After factoring in labor and materials costs, you can expect to spend anywhere between $6 to $18 per square foot of flooring.

6. Smart Home Automation

Smart home automation is becoming commonplace, especially in upscale urban neighborhoods. However, its potential to save energy and make residents' lives more convenient makes it a valuable addition to any home. A few smart home installations to consider installing include:

• Smart Thermostat: The single most valuable piece of technology you can install in your home is a smart thermostat. It lets you remotely control your home’s temperature, saving you money on your energy bills while keeping your home comfortable.
• Automatic Lights: Automatic lights are a great way to save energy and add convenience to your life. With automatic lights, you’ll never have to worry about getting up to turn the light on or forgetting to turn it off before you leave the house.
• Smart Locks: Smart locks are a great way to increase the security of your home. With a smart lock, you can remotely lock and unlock your doors and set up automatic locking schedules.
• Integrated Home Security: Most smart home security systems are portable. Regardless of the system you install, the value of your home will increase. Home security systems deter theft, and the safer your neighborhood as a whole is, the more valuable your home (and others around it) will be.

7. Add a Deck or Patio

Decks and patios are popular features that require lots of time, energy, and manpower to build, but they also make your home more desirable. Since many homebuyers prefer having a deck, these additions will also open you up to a wider pool of buyers if you decide to list your property. Popular deck and patio additions include:

• Wooden Decks: The most popular type of deck, wooden decks are also the most expensive. They’re typically made from pressure-treated lumber, which adds to the cost.
• Composite Decks: Composite decks are a more affordable alternative to wooden decks. They’re made from recycled materials, so they’re also more eco-friendly.
• Patios: Patios are a great way to add living space to the front or back of your home without the expense of building an addition. You can build a patio from various materials, including concrete, brick, stone, and pavers.

Endnote

The best way to add value to your home is by making practical and appealing renovations to potential buyers. Before you start any renovation project, be sure to do your research, so you know what will add the most value to your home.