Renovations That You Never Knew You Needed
It is easy to focus on how much new home renovations cost, but you should also consider that they can increase your home value and give you a higher quality of life. You might need some home renovations more than you think.
There are a wide variety of home renovations that can increase the value of your home. Here’s an overview of a few general categories of renovations that increase home value:
- Front Renovations
- Backyard Renovations
- Minor Indoor Renovations
- Environmental Changes
- Major Remodeling Projects
- Other Major Projects
Front Renovations
Many renovations increase home value by upping your home’s curb appeal. Here are several of them.
1. Replace Your Doors
You can replace your door with a steel door to help reinforce security. A fiberglass entry door, conversely, returns around 85% of your investment, so it’s also a good choice. You may instead want a new finish rather than an entire replacement. Don’t forget about doing something with your garage door, too, if you have to.
2. Siding
Siding replacement results in an average of 75-83% cost recovery, so it’s a great way to make the exterior of your home look appealing. A manufactured stone veneer is a popular siding choice.
3. Roof
Fix all problems your roof might be having. You can even entirely re-roof your home if you need something drastic. Focus on cool-roof replacements, as many home buyers are looking for those. Get solar panels installed as a boost to your energy bills, too.
Backyard Renovations
There are all kinds of renovations you can make to your backyard that increase your home’s value.
1. Add installations
Add a deck or patio to create a brand-new space in your home. Decks have the highest ROI, with an 80-85% average cost recovery. You can also adjust the landscaping and get your hardscaping touched up. You can even add an outdoor kitchen or fire pit.
2. Pools
You can have a pool, jacuzzi, or hot tub installed in your yard. You can go for something fancy like a basement pool or infinity pool. But keep in mind that swimming pools in cold climates typically don’t increase value and that hot tub maintenance and safety issues may make some buyers turn away.
Minor Indoor Renovations
Now let’s look inside the house – what kind of renovations that increase home value can you get?
1. Lighting
Get new lighting and make your home as bright as possible. LED lightbulbs are popular.
2. Painting
A new coat of paint is something you can do yourself quite easily and can help reinvigorate your space.
3. Insulation
Have your home insulated if it isn’t already. A home without a regulated temperature is uncomfortable to live inside.
4. Accessibility
If you plan on selling, consider ways to make your home accessible to as many people as possible. Install ramps, lower countertops, and light switches, and have cabinets on a hydraulic system if you have to.
5. Smart home features
Have your whole home connected to the same system. Smart locks, faucets, lighting, and a remote thermostat are all ways to make your home high-tech and easy to use.
Environmental Changes
There are a few more renovations that increase your home value you can make that will change the feel of your environment.
1. Window replacement
Window replacement can help improve the lighting of your home. It has one of the highest returns on investment, with an average cost recovery of 75-80%.
2. Flooring replacement
Hardwood is considered more valuable than carpet. And maybe your flooring needs sprucing up here and there. You might want something like radiant-heating flooring or insulated cork flooring.
3. Ceiling replacement
If you still have a textured (aka popcorn) ceiling, you should replace it safely.
Major Remodeling Projects
You can get a pretty good ROI by undergoing some major remodeling projects. Here are a few of the more popular renovations that increase home value.
1. Kitchen Remodeling
A minor remodel has an average cost recovery of 75-83%, while a major one is 70-78%. Think about getting an easy-to-clean backsplash, an island, extra storage, and a walk-in pantry.
2. Bathroom Remodeling
The average cost recovery of bathroom remodeling is 70-78%. You might want to install a double-sink vanity and re-caulk your old caulk.
3. Basement Remodeling
An unfinished basement looks terrible to prospective buyers unless they’re trying to buy cheap. Your average cost recovery is 65-75%, so these are generally a good idea. Install a water heater if you don’t have one.
Other Major Projects
Finally, there are a couple more renovations that increase your home’s value you might want to undergo.
1. Home additions
Home additions are a great way to increase ROI. Adding livable square footage through building ADUs and other bedroom additions adds value. Adding a family room or garage also looks appealing to buyers. A two-story addition is also great for a home. Many people like adding home offices and exercise rooms, although some buyers see those as a waste of space.
2. HVAC upgrades
Update your HVAC system to make your home more comfortable or energy efficient. Adding bathroom fans or kitchen ventilation is a great idea.
FAQs
What are renovations that increase home value?
The most common value-increasing home upgrades are bathroom remodels, kitchen remodels, deck additions, and window replacements. These tend to have high ROI and increase the general quality of your home.
What are some cool home upgrades?
There are many different home upgrades to make your house more fun. Smart home upgrades are one notable example. You can get fancy appliances like Japanese toilets, waterfall showers, and hidden TVs. Think about what you want to upgrade and find what you can use as a replacement.
Conclusion
A large number of renovations increase home value and comfort. You have a variety of options that range in budget requirements and ease.
Whatever you want to do to your home, consider the benefits alongside the costs. Many different renovations increase home value, after all. Maybe one of these upgrades caught your eye, and soon you’ll have a completely transformed home.