Published 9/6/23
Nine Value-adding Renovation Projects
Renovating is one of the most important things you can do if you’re trying to add value to your home. Although there are countless ways you can update your property, it’s vital that you get to know which offers the highest return on investment and which would be a financial waste.
These are nine value-adding renovation projects that will boost your property to the next level!
1. Update Your Garage
Garages are often an afterthought, with many homeowners deciding to sell without even finishing them. If you’re ready to change things up, it’s time to think about this area of your home. Replacing an older garage door offers the highest return on investment, can add a fresh look to your property, and usually costs less than $5,000 to complete.
Other updates like a protective floor coating, additional storage, and more security can all also help this portion of your property.
2. Increase Energy Efficiency
Energy efficiency is one of the hottest topics in 2023, and it’s vital that your property doesn’t fall behind. When you’re updating, consider all of the ways your energy can be put to good use.
This means ensuring windows and doors are sealed, investing in more insulation, and having your HVAC system looked at. It’s also always a good idea to change out any filters that could use the swap.
3 Make Spaces Feel Larger
Something that affects the value of a property more than you’d expect is how it’s perceived. If a space feels larger, buyers are going to be more interested in it, even if it’s the same size as a comparable building.
You can use tips like painting with lighter colors, adding cabinet crown molding, and investing in additional window cutouts, to make a space feel far larger without having to build an addition.
4. Add Luxury Throughout
Everyone wants some luxury in their life, and that means it’s time to stop and think about how your home can offer that. You don’t have to fully overhaul the entire property, but instead, add touches on the finer things in life to see your home get boosted.
Some ideas for luxury are adding warmth, like a heated island countertop or heated shower floors. Another idea is using touchless technology and fogless mirrors to make sinks, bathrooms, and kitchens more exciting.
5. Invest in Smart Home Details
Smart home details are always going to be popular because they let buyers feel like they’re living in the future. Adding simple components like a smart thermostat, smart home speakers, and even a camera and home security system can allow buyers to feel like they’re stepping into 3024 instead of 2024.
Be careful not to overspend on these. They should be simple items that improve life instead of making it complicated or confusing for the average person.
6. Update An Out of Date Roof
How old is your roof? The average roof only lasts for thirty to fifty years, depending on the materials, and is a red flag to buyers when it shows its age. If you want to keep them from fearing the commitment to a project after they buy, it’s a good idea to update any roof that needs it.
While updating it, consider adding more exterior entertainment space using roof deck tiles. This will make the entire home feel larger.
7. Use Your Green Thumb
The least expensive and most effective way to make your home feel larger and more impressive is to invest in greenery. Take the time to pulley your lawn into a ship-shape, edge the grass, prune the shrubbery, and watch your home’s curb appeal take flight.
Consider using local plants to make maintenance as easy as possible for future buyers.
8. Make Sure Your Siding Is Healthy
Your siding is what keeps your home safe and comfortable. If it’s out of date, it’s going to be hard to keep a comfortable temperature or environment in your home. Not to mention, the older siding makes it easier for moisture and insect life to make its way into your property.
Siding can last for twenty to thirty years, so it could be time to update yours soon.
9. Create a Welcoming Entrance
How welcoming is your home? You want buyers to walk up and feel like they’re wanted and expected there. Invest in good outdoor decor, plants, fresh paint, and house numbers, and pull your home into the future.
Remember to check with your HOA on any exterior changes since making them against their will could lead to an unfortunate lawsuit that nobody wants to deal with.
Renovation is the Best Way to Boost Value
Whether you’re renovating to sell or you’re interested in keeping your home up with the times, it’s never a bad time to update. Work with a professional like Franklin Investment Realty and consider some of these projects to boost your home in no time!
– Sam Willis
Sam Willis is a freelance writer that loves sharing his knowledge and expertise in residential and commercial real estate, as well as engineering and construction. He lives in Atlanta, Georgia where he enjoys spending time with his wife and researching real estate trends in his free time. Sam’s work as a freelance writer can be found on Building Product Advisor, a new construction industry resource site.
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