A home improvement or renovation project can do more than simply improve the comfort and appearance of a home. Many types of home renovation projects can boost a home’s value. By completing such a project now, you can spend a few more years enjoying your home while also knowing that you probably won’t struggle too much to attract a buyer when you choose to sell it.
That said, it’s important to understand that not all home improvement projects deliver the strongest return on investment. Some boost a home’s value more than others.
The home renovation and improvement projects most likely to increase the value of your home include the following:
Replacing Your Garage Door
Swapping out your current garage door may not seem like the type of project that’s likely to make much of a difference in your home’s value. However, it actually can have a surprising impact.
This is primarily due to where your garage door is. It typically faces the street, and therefore is one of the first things someone sees when approaching your house. Thus, it can play a significant role in curb appeal, which itself has been shown to play a significant role in how valuable potential buyers consider a home to be.
Replacing your garage door can also be a fairly inexpensive upgrade. Consider this project if you want to boost your home’s value on a budget.
Modernizing a kitchen has been determined to be another project that tends to substantially increase the value of a home. This may come as little surprise. People spend a lot of time in the kitchen preparing meals. As such, they want the space to be comfortable while also feeling functional. No one wants to work in a kitchen where the appliances are unreliable or they don’t have access to modern amenities and tools that they’ve grown accustomed to working with.
This is a type of project that will also likely boost your own enjoyment of your home. If you cook often, upgrading your kitchen is one of the best gifts you can give yourself.
Upgrading Your Siding
Like your garage door, your siding (obviously) contributes to your home’s curb appeal. It may thus be time to upgrade it. Although fiber cement siding is likely to boost your home’s value more than vinyl siding, if you’re on a tight budget, you can still opt for vinyl. It won’t have the same long-term impact as fiber cement siding, but that doesn’t mean it won’t have any impact whatsoever.
You may be surprised by the degree to which remodeling your bathroom will boost your home’s value. However, researchers and experts have consistently discovered that bathroom renovation projects yield a very strong return on investment. This may be because a bathroom needs to be a place that both feels comfortable and functions properly.
Just keep in mind, regardless of which project you choose, any type of remodeling work usually requires some understanding of construction best practices and safety. Don’t make the mistake of attempting a project yourself if you’re not qualified to do so. Instead, hire experienced builders. They’ll be much more likely to deliver results that impress both you and anyone who may consider buying your home in the future.