If you’re looking at home renovations just to improve your life in the home, there are plenty of DIY options to consider. Hanging a shelf to increase storage space, for instance, can immediately make the space more enjoyable. A simple shelf, however, is unlikely to move the needle on your overall home value.
Some projects are simpler and more approachable, like giving your home a deep clean or putting up blinds. Others can be a bit more difficult. If you're not sure about your ability to accomplish the task, it's best to consult with a professional.
Here is a list of some easy DIY home projects that can improve the appearance and functionality of your home:
Some of these carry weight in the market value of your home as well. Painting, for instance, is something you should keep up with and make sure to do right before you list your house.
There are some heavier-lift projects that are known to improve a home’s value. The bonus with any of these is that they will also improve your time spent in the home. The downside is, by the nature of the job, they tend to take longer and cost more money. They may also leave a room inaccessible for the time it takes to finish a job.
The best return on investment (ROI) upgrades for a home will vary depending on the specific home and market conditions. Still, regardless of the market, there are a list of projects that regularly come up in this conversation. Some upgrades that tend to have a high ROI include:
A well-designed and updated kitchen is a major selling point for potential buyers. The scope of the project and your needs as a homeowner will determine exactly what goes into any kitchen renovation and the duration of the project. Some common elements of a kitchen upgrade may include:
It’s important to consult with a professional designer or contractor to determine the best kitchen upgrades for you. Keep in mind that kitchen remodels can be an extensive and disruptive process. It's important to plan ahead and have a realistic budget in place.
Similar to kitchen renovations, updating your bathroom or bathrooms is a great way to increase the value of your home. A bathroom renovation ranges from small projects that take a couple of days to an overhaul that may take weeks. Exactly what your renovation includes depends on what you need out of it. There are, however, some common elements of a bathroom renovation may include:
Just like a kitchen, a bathroom remodel can be an extensive and disruptive process. If you’re considering a remodel, be sure to consult a contractor early so you can plan ahead.
Adding insulation, upgrading to energy-efficient appliances, and replacing windows can lower the energy demand of your home. These updates are particularly beneficial because they can be done rather quickly and upgrade your home’s market value as well as your experience in the home immediately. Living in a more energy-efficient home will not only lower your energy bills, but it will also reduce your environmental impact. It's a win-win situation. A professional can help you determine the best energy-efficient upgrades for your specific home and budget.
There are, however, some common jobs to consider:
Finishing a basement or converting an attic into living space may increase the square footage and upgrade the market value of your home. You can also make an addition to a home to add a room or a bathroom. These are the go-to ideas when people think of adding living space, but there is something else to consider: outdoor living space.
Outdoor living spaces, such as decks, patios, or porches, provide additional living space for homeowners and can be used for entertaining, relaxing, and enjoying the outdoors. A well-kept outdoor living space may not show up on tax assessments or online value estimators, but it still can add value. These spaces are more likely to be noticed by an appraiser when it comes time to sell and may increase the amount that a potential buyer is willing to pay for your home.
It's important to note that, perhaps more than other parts of the home, the value added by an outdoor living space can vary depending on things like the quality of construction, the materials used, and the size and location of the space. So, if you already have a deck that could use some love, don’t be afraid to invest in quality, long-lasting materials. Additionally, the specific location of the house and the type of outdoor living space may play a role. For example, a house in a warm climate that has a large, covered patio with a pool may have more value than a house with the same features in a colder climate.
Curb appeal is a fancy term to reference a person’s first impression of your home. It’s all about how your home looks from the street, how attractive it is to passers by. Simple improvements to your home exterior, such as landscaping, painting, or a new front door can make a big difference in the overall value of your home.
Some things you can do include:
So, which job adds the most value? It's important to note that the ROI on home upgrades can vary depending on the location, the type of upgrade and current market conditions. It's always a good idea to consult with a real estate agent or home appraiser to get an idea of what upgrades would be most beneficial for your specific home and market.
But, if we were forced to give a single answer we would probably say that many professionals agree the kitchen is the greatest value add. The kitchen is the heart of the home. It’s where we store, prepare, and cook the food. Anything that can be done to improve a kitchen’s functionality and beauty translates to future buyers.
By being aware of these potential challenges, you can be better prepared to handle them if they arise.