Your once-dated beautiful home may have been around for decades and is possibly now outdated, perhaps even jaded. You’ll likely start thinking about moving to a new house that’s modern and sophisticated in terms of technology. That’s all good, and perhaps a wise thing to do in particular situations. However, you can make the most out of your current home by taking on the best home improvement projects to increase your home’s value. Here’s a list of projects to consider.
1. Add a Fence
Homeowners are constantly looking for ways to increase the value of their homes. More often than not, they take on expensive projects to achieve this. However, some of the best home improvement projects to increase your home’s value don’t require you to break the bank. Something as simple as setting up a fence can have a great impact on the value of your home. There are different types of fencing you should consider depending on your home’s aesthetics. Consult with a fence company to get a professional opinion about the type of fence that’s ideal for your home. You may be thinking, ‘all this process just to set up a fence?’ Well, as much as it may not seem like a big deal, having the ‘wrong’ fence may lower the value of your home; it beats the purpose, right?
2. Take Care and Grow Your Trees
Picture waking up to a front or back yard that’s covered with trees and well-manicured lawns. Not only is this pleasing to the eye, but it also boosts the value of your home. Some trees are, by themselves, prized highly and hence would typically increase the value of your home. However, this doesn’t mean you have to use up all your money to buy these trees.
Studies show that healthy matured trees of any kind will equally increase the value of your home. If you want to get the best value for your home and need assistance in identifying what species of trees you need, you may want to hire cheap arborist services for that. One can, therefore, rightly state that planting trees around one’s home is among the best home improvement projects to increase your home’s value.
3. Redesign Your Backyard
A backyard offers a private area where you and your family can enjoy the outdoor space privately. A study by the University of Michigan concluded that backyards featuring updated landscaping increased the value of the home by 11%. This makes working on your backyard one of the best home improvement projects to increase your home’s value. For the best results, work with backyard landscape designers to transform your space and give it a boost. A few examples of how you could revamp your backyard include; transforming it into a kid’s play area, making it a space where you can host parties and entertain guests, setting up an outdoor kitchen, or installing an artificial waterfall. You are only limited by your creativity when taking on such a project.
4. Replace Your Roof
If you’re looking to sell your home, having a new roof will not only help you attract potential buyers, but it will also increase your bargaining power. Over time, the roofing of a house starts to wear and tear due to the different weather conditions it has had to endure. This wear and tear could leave the roof’s shingles and tiles cracked and faded, making your home look unattractive and jaded. This is a sign you should get in touch with your local roofing company to restore your home to its glory days. A new roof gives the impression of a well-maintained home, making this project among the best home improvement projects to increase your home’s value. The available roofing options include metal roofs, faux slate roofing shingles, asphalt roofing shingles, and solar tiles. Regardless of the roofing material you opt for, you are guaranteed an increase in the value of your home.
5. Consider a Remodel
A remodeling project can be classified as one of the best home improvement projects to increase your home’s value. Elizabeth Olcott, a top real estate agent based in California, agrees that a remodel increases the value of a home. She, however, cautions that one is not guaranteed to get all their money back should they later decide to sell the home. One could, however, still take on the project to improve the space they live in.
Since remodeling a home isn’t cheap, consider working in sections. For instance, you may want to start with the kitchen and bathroom. To ensure the remodel is done professionally, contact local kitchen and bath remodeling services. Examples of remodeling projects that could be undertaken in the kitchen and bathroom include; updating the tiles in both areas, revamping old cabinets, and switching to more dated, energy-effective, and efficient appliances.
6. Install a Deck
According to Ryan Fink, deck installation is ranked fourth among the best home improvement projects to increase a home’s value. If you want to increase the amount of space that’s usable in a home, contracting professionals for deck building services is one way to start. Regardless of how many there are, having a deck allows one to provide a sitting space where their guests lounge comfortably instead of them hovering all over the house due to limited space.
The fact that your home will instantly hold more people by having a deck also means its value will go up. During the COVID-19 pandemic, outdoor living became a priority for most homeowners as people stayed away from public and workplaces. Therefore, the value of a home that offers people an opportunity to be outdoors, breathing in the fresh air and enjoying the sunshine, can only go up. A deck’s value to a home mainly depends on the materials used to build it. For example, according to the 2021 Cost vs Value Report, to set up a wooden deck, you would need to invest about $16,766, which would recoup 68% of the amount invested, whereas a composite deck would cost $22,426 and recoup 63% of the value when the home is sold.
7. Renew Insulation
For a home to feel like a real home, comfort is key. A well-insulated home guarantees comfort throughout the year and consequently increases the value of a home. During the hot summers, added insulation means you will stay cool, but when the winter cold hits, insulation will keep your home warm. According to people who use home insulation, a well-insulated home is more comfortable to live in than one that isn’t. These testimonials are enough to make one start looking for insulation installation services. The comfort offered by new insulation makes this one of the best home improvement projects to increase your home’s value.
8. Add a Pool
Adding a pool is also one of the best home improvement projects to increase your home’s value. Although experts don’t agree on the exact value a pool adds to a home, they agree that there’s an undeniable increase in value. Before rushing to implement pool installs, consider the following factors affecting the impact of a pool in a home:
- The climate of the Region: In the US, for example, some areas experience snow cover for up to six months consecutively. The value addition of a pool to a home in such a region is therefore not much compared to a home that’s located in a hotter climate area.
- The Neighborhood: A potential buyer may lose interest in a property that doesn’t have a pool if having one is a standard feature in the neighborhood.
- Buyer Specifications: The value of a home with a pool only increases when all potential buyers are keen to have a pool. If having a pool isn’t a priority, the value won’t increase by much.
- Quality: Instead of increasing your home’s value, having a dirty pool will have the opposite effect. Therefore, your pool and its surrounding surroundings need to be well maintained to ensure it adds value to your home.
9. Install Solar panels
The energy savings you get to enjoy with solar panels make them among the best home improvement projects to increase your home’s value. According to the findings of the National Renewable Energy Laboratory, the value of a home goes up by $20 for every dollar saved through solar energy. You have a better chance of selling a home that has solar panels than one that doesn’t.
Solar panels, just like insulation, are among the energy-efficient upgrades that most buyers consider while scouting for a home. Buyers are always looking for a home that’s in line with their financial priorities, which often include managing the cost of energy in the long run. Luckily, a home with solar panels will actualize these buyer needs.
If your home doesn’t have solar panels, reach out to local solar companies near you to have them installed. While solar panel installation is a significant financial investment, it’s one of the best home improvement projects to increase your home’s value.
10. Install Sprinklers
It takes time and energy to have a well-maintained lawn. Therefore, anything that makes this process easier and less demanding adds value to your home. A sprinkler system may not directly increase the value of your home, but it ensures your landscaping is well maintained and that the plants and trees on your property stay alive. This improves the overall aesthetics of your home and consequently its value.
For the sprinkler system to effectively increase the value of your home, you’ll need to ensure the system is functioning optimally by replacing all broken or missing sprinkler heads, checking the water pressure, setting the timer in accordance to plant needs, and ensuring the sprinkler heads are angled correctly.
11. Remodel the Arctic or Basement
The attic or basement of your home doesn’t have to be dusty and full of storage boxes that no one uses. Whether it’s just for your personal home improvement needs or it’s a property you want to resell, there are various ways you can renovate these spaces to add value to your home. For example, consider making room for more living space.
A dark, scary room could be transformed into a bright welcoming space with just a few changes. You can choose to transform this space into a gaming area or create room for a bed or two. This means you’ll no longer have to worry about where your guests will sleep when they come over. If the purpose of the renovation was a resale, the extra living space would automatically increase the value of the home.
You could also consider getting additional bathrooms, as there’s no such thing as too many bathrooms. More bathrooms will increase the functionality of your home and if you decide to put your home up for sale, its market value will go up. To ensure your bathrooms are fully functional, you’ll need to get a professional plumber to help you with the renovations.
12. Build a Home Office
According to data from Global Workplace Analytics, the number of people working from home has increased by 159% since 2009. A home office was listed as the top priority for buyers by 60% of leading real estate professionals in a Fall 2021 HomeLight study.
If you live in an area with a sizable number of people telecommuting, investing in additional space for a home office or designating an existing room to serve as a home office is a wise investment. Statistics from HomeLight mid-2020 aver that a home office increases a property’s resale value by over $10,000. As more people become accustomed to working remotely, the value of properties featuring a home office will continue to appreciate.
Not all projects you take on will add value to your home. If you’re looking to sell, avoid customizing the renovations to your specific needs and instead appeal to all potential buyers. In most cases, potential buyers will have different tastes and preferences from yours. Think about them and their needs if they’re the object of your home improvement project.