Your home is your most significant investment. So if you are planning home renovations and upgrades, it is important that you consider how much money you need to invest versus the value that it adds to your property. Making the right home improvement project decisions will not only improve your family’s quality of life, it will also mean a higher resale value when the time to sell your home comes.
Are you planning to renovate your home soon? Here are some of the best home improvement projects that you can do to increase your home’s value.
1. Remodeling your kitchen.
The kitchen is the “heart of the home” and also the best part of your home that is worth investing in. Kitchen renovations provide one of the highest returns on investment, and you don’t even need to do a full remodel to get your money’s worth. Here are some good kitchen renovation ideas:
- Get a fresh coat of paint. One of the smallest investments that have the greatest impact on your kitchen is a fresh coat of paint. Even you yourself can do it. You don’t always need the help of a professional, but getting one certainly helps in choosing the right paint that works for your home. Choose a colour that you prefer if you are repainting for personal use. But if you are planning to sell your home in the future, pick a neutral colour since they appeal to a large number of people.
- Update your backsplash. Playing around with colour in your kitchen can be daunting, but adding or updating your backsplash to complement your new paint job can make the colours pop. It also doesn’t cost a lot of money and it is even cheaper if you do it yourself.
- Reface outdated drawers and cabinets. New drawers and cabinets can take a significant chunk of your budget. You can save money by refacing rather than replacing them. Install new wood or laminate veneer over your existing drawer fronts or completely remove cabinet doors for a new look.
- Repaint old but working appliances and replace worn-out ones. Some appliances look old but are still in good working condition. Take them to a body shop for a repaint. If you are also repainting your kitchen, make sure the colour is consistent with the new style. If some look old but are still in good working condition, take them to a body shop for a repaint. If possible, make the colours consistent for a stylish kitchen.
- Install new lighting fixtures. Cooking and dining needs adequate lighting. Chances are your lights are outdated and you need to replace them. Install track lighting so you can direct light where you need it. Increase your energy savings by using energy-efficient lights.
- Install a suspended rack. You can never have enough space in your kitchen. Setting up a suspended rack in the ceiling where you can put pots and pans will free up a lot of space in your cabinet, making it appealing to potential home buyers in the future.
2. Renovating your bathrooms.
Another section of the home that can make or break a sale is the bathroom. Home buyers prefer homes with more than one bathroom and updated bathroom features. However, your bathroom renovation doesn’t need to break the bank. Here are some bathroom remodeling ideas:
- Replace outdated bathroom fixtures. Having old and worn-out bathroom fixtures will make your entire bathroom outdated. They may be small details but these accents can affect your bathroom’s appeal. Updating light fixtures, faucets, towel racks, and drawer pulls is a relatively small investment. Go for coloured enamel instead of chrome as the latter has been overused.
- Limit your tiles. Tiles can get expensive. If you are planning to replace your bathroom tiles, limit it only to high-impact areas like the floor. You may also use a strip of tiles on the walls as an accent and then use cheaper tiles or just simply paint the rest of the wall.
- Repaint your bathroom. Again, a fresh coat of paint is an inexpensive investment that provides good value to your bathroom. Bright colours are not for everyone so pick neutral colours that appeal to a wider range of home buyers.
- Install a new countertop. Granite countertops are a popular trend in bathrooms nowadays. Since bathroom counters are generally small, the investment is relatively low compared to kitchen counters.
- Clean your grout and caulk. Having grimy grout and caulk is unsightly and can turn off potential home buyers. If you are not planning any significant renovations to your bathroom, freshening up the grout and caulk can make your bathroom look new for a low cost.
- Go green with eco-friendly bathroom features. Some good options for eco-friendly upgrades include low-flow faucets and shower heads, dual flush toilets, and LED lighting.
3. Increasing your property’s curb appeal.
Boosting your home’s curb appeal is one of the most effective things you can do to attract potential home buyers. Aside from checking for title issues, mechanics liens, and other financial details, it is one of the first things that they see when they are shopping around for homes. Their first impression can have a huge impact on whether they choose to check out your home or not. Here are some ways you can improve your home’s curb appeal.
- Repaint the front door. The front door is the first place buyers look when they check a house and can be considered a sign of what they can expect inside your home. Make sure that it’s clean and inviting with a fresh coat of paint. You may also change the doorknob and doorbell and even add security features.
- Spruce up your landscape. Plants and flowers provide an instant boost to your home exterior but there is more to it than just planting shrubs and leaving them. When adding plants and flowers, choose those that are low-maintenance. A splash of bright coloured flowers along the walkway makes your home stand out.
- Update your house number. One of the best ways to add a little personality to your home is by adding a unique house number design. Home numbers need to stand-out so you should turn it into something eye-catching.
These are just some of the ways you can improve your home and increase its resale value when the time comes. Most of them are simple, inexpensive, and doesn’t take a lot of time. As long as you plan carefully and within your budget, your can have some great upgrades for your home. Remember that if you’re going to make any structural improvements to let your broker or bank know as it’s a requirement on all loan contracts.