They say a home is likely to be the biggest investment you will ever make. Given that investments are meant to make us money in the long run, many homeowners are constantly on the lookout for ways to increase their home value.
Whether you are looking to sell you home in the short term, or want to plan for upgrades and innovations over several years, experts agree that having a plan is key to your success.
Therefore, before you begin, plan out your home renovations room by room. Some rooms may simply need a coat of paint, while others may require a total overhaul – but having a list of all projects will allow you to plan out your time and budget to your best advantage.
According to Consumer Reports, here are the top ways to increase home value and maximize your investment.
Top Projects to Increase Home Value
- Kitchens are Important: Year after year, home buyers report that a modern kitchen makes the most impact when searching for a new house. Popular features in 2018-19 include new appliances, islands, contemporary lighting, and quartz countertops.
While a total kitchen renovation is tempting, it is not necessary to positively affect your home value.
If your time or budget is constrained, you can give your kitchen some flair with a fresh coat of paint, an artistic tile backsplash, or new flooring. - Bathrooms Will Clean Up: Next to the kitchen, your bathrooms will provide you with the best ration of cost to value. A dated or dark bathroom can scare off potential buyers – conversely, a spacious, bright bathroom is of great interest. Lighting is often key to updating a bathroom – consider skylights or wall mounted lighting for a warm, ambient feel.
Valuable features are walk-in showers and touches that stress beautiful form as much as function, such as pedestal sinks with dramatic fixtures. - Be Willing to Open Up: Older homes were generally built with multiple walled off rooms, while today’s buyers gravitate towards open, multi-functional spaces.
Kitchen/great room concepts are preferable for those looking to entertain, and knocking down walls between small bedrooms can create multiple master suites.
A second story addition can add spacious multi-purpose space for a playroom or office. - Be Smart & Efficient: Millenials and Gen Z buyers will be looking for green features such as energy efficient appliances and skylights; as well as the latest smart home features such as doorbell security cameras, smart thermostats and smart lighting.
- Do the Heavy Lifting: The big ticket items and major systems in your home can cause concern if they are nearing the end of their life cycle. Your home value will increase with a new roof, updated electrical and plumbing, hurricane shutters, or late model air conditioner / HVAC system.
Buyers are more likely to pay top dollar if they know they won’t have major maintenance concerns for years to come. - Embrace the Great Outdoors: Here in the Sarasota and Longboat Key area, our home’s outdoor living space is an important part of the floorplan. If you are looking to add dollar signs to your home value, screen in a patio or add an awning for additional outdoor leisure space.
And while not officially “outdoor space”, modernizing your garage with flexible storage systems and a stain resistant floor will add value to the bottom line.
Remember This: A bold accent wall or a new Cherrywood stain on your kitchen cabinets will create a dramatic difference in your home, for a relatively small investment of time and money.
Refer to your plan to make changes large and small, all of which will add up to the increase in home value you are looking for.
Lindahl Construction provides a team of experienced, skilled and professional residential general contractors. We are uniquely qualified to help you with your home projects, from a single room to the entire house.
Call us today to begin planning for the home of your dreams.