5 Ways to Increase the Value of Your Home
In today’s real estate market, homeowners are updating their houses to take advantage of new designs and technology toward increasing total home value. There are few projects that will almost always increase the value. Like all home improvement projects, some provide a bigger return than others. Here are five home remodeling projects that are sure to add value to your home.
1. Kitchen Remodeling
The kitchen is the heart of the home, so eager homebuyers often look to it as the focal point. It’s often the first and last room potential buyers look at during a walk-through. If you’re looking to increase the value of your home, start with the kitchen.
According to Remodeling Magazine, homeowners can recoup anywhere from 68 percent to 75 percent of their kitchen remodeling costs. Whether you update the counters, cabinets, or appliances, you will undoubtedly increase its value. With the average kitchen remodeling cost at $17,226, homeowners can expect to recoup at least $11,713.
2. Bathroom Remodeling
After the kitchen, the bathroom is perhaps the most popular room in the home. Even if it isn’t a focal point of the home, we spend a lot of time in there. So it’s not hard to understand why bathroom remodels increase the value of your home.
Marie Leonard, home improvement expert and author of Marie’s Home Improvement Guide, certainly agrees. “As far as getting a return on your investment, the best money is in upgrading or remodeling your bathroom or kitchen,” Leonard said. “All the realtors will tell people that you have the greatest chance of getting your money back on those two.”
Before you start a bathroom renovation, check out our article on the 7 Costs Behind Bathroom Remodeling Projects.
3. Hardwood Flooring
The first thing people notice when they walk into a home is the flooring. While tile and carpet used to be hot flooring options across the country, hardwood is quickly becoming the industry standard. Homebuyers tend to associate carpet with older homes. In fact, with rustic or modern design, carpet is out of the question.
If installing new hardwood is too expensive, homeowners could go with laminate or engineered hardwood. Many homebuyers won’t recognize the difference, but you certainly will when it comes to the savings. If you’re unsure of the differences, learn more information about the hardwood flooring dilemma to figure out your best option.
4. New Windows
One can’t forget about a home’s curb appeal, and the windows play a big role in the home exterior. Not only do new windows improve a home’s aesthetic appeal and resale value, but today’s windows are also made to be more energy efficient. As a result, homeowners can enjoy great savings on energy costs by installing new windows with better insulation.
With the rising costs of heat across the country, homeowners can’t afford to have old windows. To see what it will cost, follow a window installation price guide to see what you’ll pay for the number of windows you need.
5. Entry Door
On top of your home’s exterior, the entry door should be an extension of your interior design. Potential homebuyers should get an immediate feel and sense of the home as soon as they see your front door.
There are a variety of exterior doors with different price tags. The most common front door material is wood, but fiberglass and steel are logical alternatives. Exterior doors come with many decorative options like glass panes, which increases price. Consider screen doors or storm doors as well, as they reduce energy costs, extending the longevity of the door and increasing your home’s value.
Contribution by Jacob Hurwith, ImproveNet