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It’s no myth that when you update your house effectively, you see a boost in your home value. CNBC reported that when you remodel your home, the average payback for resale value is 56% of the cost of the remodel.
For those who make improvements to the home, like updating the windows or painting, the payback in the home’s resale is 75% of the improvement.
Remodels and improvements can make your house look years younger and attract more potential buyers to your home. Are you wondering where to start with your home improvement projects?
To point you in the right direction, here are five ideas for remodeling that are sure to help boost your home value.
5 Ways to Boost Your Home Value
① Update the Security System
Feeling safe and comfortable in your home is essential, especially for those who have children. Adding an advanced security system can increase the value of your house and make it sell faster.
One option is to invest in cameras at your front door and around your property, which then can be checked on your phone and computers. Another choice is setting a system that notifies with an alarm that goes off when there’s a power loss or a security breach.
Many break-ins happen from criminals getting in through windows. A window alarm is still an important part of providing security for homes. Window sensors notify you when it’s been opened through a magnetic system. Adding a security system will encourage buyers who who love technology or care about their family’s safety. What’s more, they’ll pay more for it.
② Remodel the Kitchen
Kitchens are the heart of many homes. It’s where memories are made, and tasty family meals are cooked. It’s also the most expensive part of the home because of the appliances.
Technology has had a huge impact on how appliances function. Look for refrigerators that talk to you with built-in touch screens or ovens that connect to WiFi that allow you to download recipes.
Having high tech appliances and updating your kitchen in other ways can add anywhere from $23,000 to $72,000, on average, to the value of your home.
③ Install Energy Efficient Power
Creating a home that’s powered with green energy can make it more appealing to buyers, especially younger ones. Sustainable energy is not only great for the environment but can save homeowners a lot of money on electric bills.
People will pay more for these features because saving energy, natural resources, and money is important to them. Remodel your house to include renewable energy by adding solar panels to your roof. Another way is to install a small wind turbine on your property. Additionally, you might try investing in a hydroelectric generator if you live near a river.
④ Add a New Bathroom
The bathroom is a place for luxury and relaxation. It also adds a lot of value depending on how much you want to invest. The essential features of a bathroom are the shower or bath, counters, sink, and toilet.
For maximum luxury, adding heated floors, mood lighting, and granite to a bathroom will make potential buyers want to spend some extra money for their own future relaxing experiences.
Remodeling a half bath to a full bathroom can increase your property value over 10%. To do this, add a tub, shower, or both to an existing bathroom. Also, keep in mind the space and plumbing requirements.
⑤ Freshen Your Curb Appeal
Sometimes we’re so focused on improving the inside of the home, we neglect the outside, but it’s equally as important. This is a buyer’s first impression, and you must make it a good one.
To improve the curb appeal of your house, you must maintain the lawn, mulch, and add some plants. Painting your home, getting a new front door, and cleaning up the roof will give your house a bright and fresh look. An extra touch is updating the mailbox and driveway as well.
For most curb appeal improvements, you’ll see a nice return on your investment because of the value it adds to your home.
The Bottom Line
Any remodeling or improvement you do will increase the property value of your house. However, some are more effective than others.
If you want to get more money out of your home when you sell, we recommend focusing on updating the security system, the kitchen, the energy efficiency, the bathroom, and the curb appeal.
Use these tips to start planning ways to increase your home’s value. If you have any other suggestions or comments, we’d love to hear from you in the comments below. We’ve also included some other interesting links below about all things design.
Images Courtesy of Canva.
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About the Author: Ashley Edwards
