If you’re a homeowner looking to increase the value of your home, there are several home upgrades that can make a significant impact. Not only can these upgrades boost your home’s resale value, but they can also improve your quality of life. The key is to choose upgrades that have a high return on investment (ROI) and are in line with current trends.
Maximizing Curb Appeal
The exterior of your home is the first thing people see when they visit or drive by. That’s why adding some upgrades can increase its value and make it more attractive to potential buyers if you ever decide to sell.
Front Door and Exterior Paint
Your front door is the centerpiece of your home’s exterior, the first thing people see when they approach your home. That’s why upgrading your front door can make a significant impact on curb appeal. You can replace your front door with a new one or give it a fresh coat of paint. Choose a color that complements your home’s exterior and adds a pop of color.
Exterior paint is another way to upgrade your home’s curb appeal. A fresh coat of paint can make your home look brand new. Choose a color that complements your home’s exterior and adds a touch of personality. You can also paint your garage door to match your home’s exterior or give it a contrasting color to make it stand out.
Landscaping and Outdoor Spaces
A well-manicured lawn and garden can make your home look more inviting and attractive. You can add flowers, shrubs, and trees to your garden to add color and texture. You can also add outdoor lighting to highlight your landscaping and make it more visible at night.
You might also consider creating an outdoor space for your home. A patio, deck, or outdoor seating area is perfect for entertaining guests or relaxing with your family. You can also add outdoor decor, such as a fountain or statue, to add personality to your outdoor space.
Enhancing Key Interior Spaces
Upgrading key interior spaces (or adding some) can have a significant impact on the overall value and appeal of your home.
The kitchen is often considered the heart of the home, and a kitchen remodel can make a significant impact on your home’s value. According to a report by Remodeling Magazine, a minor kitchen remodel in 2023 has an average ROI of 85.7%.
Upgrading your kitchen can include replacing outdated cabinets, countertops, and appliances. A minor kitchen remodel can also include painting or refinishing cabinets, replacing fixtures, and adding new lighting. These upgrades can make your kitchen more functional, modern, and visually appealing.
Bathrooms are another key area of the home that can benefit from upgrades and have an average ROI of 66.7%. Upgrading your bathroom can be as simple as replacing outdated fixtures, sinks, toilets, and showers or tubs while adding new tile or flooring can make a significant impact on the overall look and feel of the space.
Home offices have become increasingly important in recent years due to the rise of remote work. If you are planning to sell your home in the future, adding one to the layout of your home could be an advantage.
A fireplace can be a great addition to a living room and it often only requires one or two holes for vents. You can find gorgeous ones to fit any home and style at a quality fireplace store. If you already have one, it could be worth the investment to update it or give it a refresh.
Basement and Attic Conversions
Converting your basement or attic into a functional living space can also make a significant impact on your home’s value. A finished basement or attic can be used as a guest room, home office, or entertainment space. Upgrades can include adding new flooring, painting, and installing new fixtures to create a comfortable and inviting space.
Improving Energy Efficiency
Making your home more energy-efficient is not only good for the environment but also for your wallet. By upgrading your home with energy-efficient features, you can reduce your energy bills significantly. Here are some of the most impactful upgrades you can make to improve your home’s energy efficiency.
Smart Home Technology
Smart home technology allows you to manage your home’s energy usage efficiently. With a smart thermostat, you can program your heating and cooling system to adjust to your schedule and preferences automatically. This means you can save energy when you’re away from home and have your home at the perfect temperature when you return. Additionally, smart lighting systems can automatically turn off lights when you leave a room, saving energy and money.
Energy-Efficient Appliances and Windows
Upgrading to energy-efficient appliances and windows can significantly reduce your energy bills. Energy-efficient appliances use less energy to operate, meaning you can save money on your electricity bill. Energy-efficient windows are designed to keep your home warm in the winter and cool in the summer, reducing the need for heating and cooling systems. They also help to reduce noise pollution, block UV rays, and improve your home’s overall comfort.
When shopping for energy-efficient appliances and windows, look for the ENERGY STAR label. This label indicates that the product meets strict energy efficiency guidelines set by the U.S. Environmental Protection Agency.
In addition to these upgrades, adding insulation to your home can also improve your home’s energy efficiency. Insulation helps to regulate your home’s temperature, keeping it warm in the winter and cool in the summer. It also helps to reduce noise pollution and improve your home’s overall comfort.
Upgrading Flooring and Paint
When it comes to home upgrades that make the most impact, upgrading your flooring and paint can be a game-changer. Not only can it change the look and feel of your home, but it’s a simple and affordable way to increase its value.
Hardwood Floors and Tile
Hardwood floors and tile are two of the most popular flooring options for homeowners. Hardwood floors are known for their durability, timeless look, and ability to increase the value of your home. Tile, on the other hand, is durable, easy to clean, and comes in a variety of styles and colors. By upgrading your flooring to either of these options, you can create a more modern and stylish look for your home.
Fresh Coat of Paint
A fresh coat of paint can do wonders for your home. Not only can it brighten up a room, but it can also make it feel more spacious. When choosing a color, it’s important to consider the overall feel of the room. For example, if you want to create a calming environment, choose a cool color like blue or green. If you want to create a cozy atmosphere, choose warm colors like red or orange.
Adding Functional Outdoor Features
When it comes to home upgrades, adding functional outdoor features can make a big impact on your property value. Not only do they provide additional living space, but they also enhance the overall look and feel of your backyard.
Decks and Patios
Decks and patios provide a place to relax and entertain guests, and can even increase your home’s value. According to Real Homes, a patio is a no-brainer backyard improvement that can add value to your home. Whether you install outdoor tile or pavers, carving out even a small patio will allow you to create more room for outdoor living which is now an intrinsic part of a happy home life. Decks, on the other hand, can be built in a variety of materials, including wood, composite, and PVC, and can be customized to fit your specific needs.
Outdoor Kitchens and Fire Pits
Outdoor kitchens provide a place to cook and entertain guests, while fire pits provide a place to gather and relax. According to Bob Vila, outdoor living spaces, such as an outdoor kitchen or fire pit, can add almost $20,000 to the value of a home. When it comes to outdoor kitchens, there are a variety of options to choose from, including built-in grills, refrigerators, and sinks. Fire pits, on the other hand, can be built in a variety of materials, including stone, brick, and concrete, and can be customized to fit your specific needs.