When it comes to renovating your home, it can be difficult to decide where to put your money. While you may want to make updates that reflect your personal style, it’s important to also consider which renovations will add the most value to your home. Here are the top 5 renovations to add value to your home:
- Adding square footage: The most sure-fire way to add value to your home is to increase the legal, permitted square footage. Homes are valued in dollars per square foot, so you will force appreciation this way. Adding a permitted bonus room, extra bedroom, or living area will appeal to people that want a larger home.
- Kitchen renovations: A well-designed kitchen can greatly increase the value of your home. Updating cabinets, countertops, and appliances can make a big difference in the overall look and functionality of the space. Additionally, adding an island or open shelving can add functionality and charm to the kitchen.
- Bathroom renovations: Like kitchens, bathrooms are also a major selling point for potential buyers. Updating the tile, vanity, and fixtures can give the room a fresh and modern look. Adding a double vanity or a walk-in shower can also be appealing to buyers.
- Basement finishing: Finishing a basement can add value to your home. Whether you create a cozy family room or a fully-equipped home theater, a finished basement can increase the overall square footage of your home and make it more appealing to potential buyers.
- Landscaping and curb appeal: First impressions are everything, and the exterior of your home is the first thing potential buyers will see. Updating your landscaping can make a big difference in the overall appearance of your home. Planting a few trees or flowers, or adding a small garden can add character and charm to your home. Investing in a new front door or repainting the exterior can also make a big impact.
It is worth mentioning that these renovations may vary in their impact according to the real estate market of your area, the condition of your home, and your budget. It is always a good idea to consult with a real estate agent or a home appraiser to determine what renovations will add the most value to your home.
When considering a renovation, it’s important to keep in mind that the goal is not only to increase the value of your home, but also to make it more livable and comfortable for you and your family. The key is to strike a balance between personal preferences and what will appeal to potential buyers. By focusing on these top 5 renovations, you can be confident that you are making smart investments in your home that will ultimately pay off in the long run.
