There are many ways to increase your home’s value. Whether you’re looking for a quick sale or planning for long-term benefits, these renovations can make your property more appealing to potential buyers. Here, we’ll cover various strategies to maximize your home’s worth through different projects.
Starting with the exterior, the first impression of a property is vital. Therefore, enhancing curb appeal is essential. Investing in curb appeal projects can yield a return on investment (ROI) of 238%. These projects might include lawn care through fertilization and weed control, as well as cleaning up and organizing the landscaping.
Other exterior improvements include refreshing the greenery. For example, a new coat of exterior paint can offer an ROI of around 152%. Similarly, updating the exterior with a manufactured stone veneer has a 91.4% ROI. A new garage door, which is relatively affordable, can offer an estimated ROI of 133%, or roughly $2,800 in resale value. Adding stone accents or pathways can also boost curb appeal. For those in the area, brick repair in Chicago can significantly enhance your home’s exterior.
If your budget permits, you could also enhance your outdoor spaces with functional and stylish upgrades. Popular features include comfortable decks or patios, pools, and hot tubs. Although there is some debate about the value-added potential of pools, consulting with a local professional before making a decision is wise. A practical addition to consider is a deck, which can bring an average ROI of 67%.
Indoors, increasing home value and buyer interest can be achieved through several means. Choosing light but warm paint colors for neutral areas is an effective way to brighten up a space. Light blue is a good choice for bathrooms, while bolder colors like charcoal or dark green add a modern touch. Additionally, modifying the home for universal design can be beneficial. Simple features such as wider doorways or ramps can make the home more accessible for older residents or those with mobility issues.
Value addition also lies in more complex interior upgrades. An example of a value-adding renovation is improving your kitchen. Homes with fireplaces sell for 13% more than those without. Similarly, an Angi survey found that 77% of buyers would pay more for a home with smart features, which can typically yield a 6-12% increase in home value.
These are just a few ideas to get you started. For further information and additional tips on increasing your home’s value, please see the accompanying resource.
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