Whether you’re trying to build home equity or list your house on the market, the first thing you want to do is focus on increasing your home’s property value. While the market can be volatile, there are several tried-and-true remodeling ideas you can do to increase the value of your home.
Increasing property value comes down to a variety of factors. From improving curb appeal to improving functionality to adding unique quirks and playing to market demand, there’s no shortage of remodeling ideas. Let’s look at five ideas that are sure to boost your home’s value.
Add More Square Footage
The total amount of livable space in a home dramatically affects property value. Home additions or added rooms are valuable investments. There are several ways to do this. You can add a second floor, add a room over the garage, add a mother-in-law suite, and more. It’s also common to turn your existing attic or basement into livable spaces or convert porches to sunrooms or mudrooms.
Research shows that additions made to kitchens, bathrooms, and laundry rooms are usually well-received, as most people wan
t more space in those areas. Before adding square footage, be sure to check local building codes and zoning ordinances.
You’ll want to ensure your builder is competent as well. Have a conversation with them about all your preferences, from the big details to the minor ones. Ask them where they stand on the metal studs vs wood studs debate, because metal studs tend to be harder to use, but better in the long run. Ask them about alternatives like ICF construction, and more. Be sure your builder can answer construction questions because if done incorrectly, home additions can decrease the value of a home instead of increasing it.
Focus on the Kitchen and Bathrooms
The kitchen and the bathrooms provide the most potential for property value increase. From upgrading appliances to redoing countertops, cabinets, and showers, there are plenty of renovation avenues. Outdated kitchens and bathrooms are immediate eyesores, and conversely, updated kitchens and bathrooms are sometimes the reason that buyers say, “yes.”
Make smart choices with your materials. Opt for natural stone or engineered quartz countertops to keep a luxurious and high dollar aesthetic. Use top quality materials and appliances, and don’t cut corners. There are other places in a home remodel where shortcuts are more acceptable. In these two highly-trafficked rooms, go the distance for the most significant return on investment.
Pay Attention to The Floors and Ceilings
Floor renovations are almost a giveaway. Hardwood floors continue to be the most sought-after flooring choice. In fact, 90% of realtors agree that homes with hardwood floors not only sell faster, but they sell for more money. So, if you want to ensure a property value increase, go for hardwood. If you already have hardwood floors, inspect them to make sure they don’t need to be refinished, stained, or polished.
Ceilings are another area worth considering. Buyers are hungry for high ceilings, so if your home has the standard 8ft ceiling and an unused attic, consider raising your ceilings. If creating higher ceilings isn’t possible, be sure that you don’t have any outdated trends, like popcorn ceilings or antiqued light fixtures.
Also, buyers aren’t just looking for wood flooring. Wood has become a rising interior design trend. Consider adding reclaimed wood design elements or wooden beams to your ceiling. If you worry about the weight of traditional wood beams, faux wood beams can provi
de the same aesthetic enhancement, without the weight risk.
Don’t Forget the Exterior Siding
We’ve been mostly focusing on the inside of the home, but curb appeal is incredibly important. Aside from landscaping, porches, and new roofs, your home’s siding can significantly contribute to the overall value of your property. Thoroughly inspect the condition of your current siding, and if it’s in bad shape, get it fixed or redo it entirely.
There are several different siding options available, and generally, the best choice comes down to personal preference. However, like inside the home, wood siding tends to be a solid, beautiful choice. It’s higher maintenance than other siding choices out there, but it’s revered for its unmatched natural beauty and design flexibility.
Prioritize Energy Efficiency and Go Green
More people are becoming eco-conscious and aware of energy-efficiency. Make updates to make your home more energy-efficient. Consider installing solar panels, smart thermostats, energy-efficient windows, and Energy Star-rated appliances. Also, be sure that your homes insulation is up to snuff.
Prioritizing energy-efficiency not only makes the home more appealing to potential buyers; it saves the homeowner tons of money in energy costs in the long run. It’s an investment that increases property value and provides an almost instant return on investment.
Remodel Your Home to Increase Property Value
These are just a few ideas to increase your home’s property value. All of the renovations mentioned above consistently increase property value and improve home equity. Before tackling any remodeling, be sure to research the long-term financial payoff and ensure that you’re working with reputable contractors.
As long as you’re thoughtful about your renovations, you’ll be able to increase your property value in no time
Mandy Lee is a contributor to Innovative Green Building Materials. She is a blogger and content writer for the building materials industry. Mandy is focused on helping fellow homeowners, contractors, and architects discover materials and methods of construction that increase property value, maximize energy savings, and turn houses into homes.