5 Renovations to Add the Most Value to Your Home

Whether you’re preparing for a real estate appraisal that you hope will help you get more money for your home, or you just want to spend money wisely on renovations, it makes sense to think about which renovations add the most value to your home.

The following renovations can add a lot of value to houses. Some of them might not apply to you depending on your location and the type of house you own but may offer a source of inspiration. For many homeowners, these are great options to increase real estate value.

Replace Vinyl Siding

Replacing vinyl siding isn’t cheap. HomeAdvisor says that prices typically fall between $6,111 and $16,142. On average, you can expect to spend $7.50 per square foot.

It’s a good chunk of change, but it’s also one of the first things that potential buyers see when they approach your home. First impressions matter more than you can imagine. Your home could have a beautiful interior. But dingy, broken vinyl siding can turn buyers off before they see the beauty inside.

The opposite is also true. A terrific first impression can help people forgive minor problems inside your house. Invest in replacing vinyl siding to increase your home’s value quickly.

Upgrade the Kitchen

Forbes lists kitchen updates as one of the projects with the highest return on investment. (Bathroom updates also get a mention. More on that below.) The Forbes article has a pretty insightful reason for recommending kitchen updates. As young people struggle to purchase homes, they look for smaller real estate options than previous generations. Giving up space due to affordability seems reasonable, but they want something in return. Kitchens seem like really important parts of the home that may need updates in the future, so buyers pay closer attention to them.

Of course, “upgrading your kitchen” can mean several things. Do you spend thousands replacing cabinets? Do you spend hundreds installing a new dishwasher?

The right option depends on your house. Look for features that already look outdated due to style or color scheme. If it’s begging for an update, probably tackle it first. Buyers will notice anything that makes the home look old and signals a potential future expense to replace.

Window Replacement

You can expect today’s windows to last somewhere between two and three decades. After that, they can start to deteriorate quickly.

Window replacement adds a lot of value to your home for several reasons. New windows:

• Often look more attractive than old windows
• Offer the promise of decades before another replacement
• Can save homeowners money by lowering energy use

It’s common to overlook windows when you consider renovations, but the hidden value means this is another area you should consider.

Redecorating a Common Area

Redecorating is one of the least expensive things you can do to improve your home’s value. Realtors can tell you how much staging matters when making a home appealing to buyers.

Even if you don’t plan to put your property on the market immediately, you can get more use out of rooms that take advantage of planned decorating. For instance, the option to rearrange with a modular sofa makes a room more flexible and appealing because it can adapt to changing needs. You can put all the modular sofa pieces together when your family gathers for movie night. You can also put the seats in different locations to give people more options during parties.

Other useful redecorating options include:

• Adding plants to bring life into a room
• Choosing sturdy shelves that let you display everything from books to travel keepsakes
• Replacing outdated window dressing
• Installing smart lighting that gives you control over mood

Find what your home needs most and update it to make the property seem more valuable.

Bathroom Renovation

Depending on what you want to do, bathroom renovations can cost a lot of money. Replacing an ancient toilet will only cost a few hundred dollars (unless you opt for a fancy model with self-warming seats, of course). Replacing tile will cost considerably more. Tile isn’t cheap, and you need to hire someone with a lot of experience cutting and laying tile. New tile should last decades, so you do not want to skimp on it.

Similar to kitchen renovations, it makes sense to update bathrooms because new homebuyers pay close attention to them. They want to know that they have useful, enjoyable features that will not cause them any hassles.

Whether you just want to replace knobs and nozzles for a modern look or you want to renovate the whole bathroom, you will add value to your home.

Consider Home Renovations to Increase Value

Home renovations don’t always give you the ROI that you want. They can, however, make your home more attractive and valuable. If you want to make your home more enjoyable, you can’t beat a renovation project. If you want to sell your home, you might need to update some features before people will even consider buying it, so it’s worth the effort to freshen and brighten your space.