If you’re compelled to renovate your home and change up the design, there are more benefits beyond just making it look nice. If you plan to sell in the future, those renovations can increase the value of your home.
Whether you’re listing your home soon or you may in the future, making smart design choices is a good practice to get the most resale value out of it – while also making your life more beautiful, functional, or sustainable.
However, not all design upgrades offer a return on investment (ROI). Take a look at the home renovation strategies that can pay off in home value, and the ones that are just for your personal taste.
Kitchen Upgrades
A kitchen is one of the most important rooms in the home, not just for you and your family, but for potential home buyers. Because of the focal point of the kitchen (and its renovation costs), buyers are seeking modern kitchens that have attractive design, plenty of functionality, and solid craftsmanship that won’t need a lot of work immediately.
Completely renovating your kitchen isn’t a cheap renovation, however. If you’re working on a tight budget, you can get good value out of strategic upgrades that won’t strain your wallet.
For example, refacing your kitchen cabinets makes them look fresh and new at a fraction of the cost of full cabinetry. You could also replace older countertops with modern, attractive materials that aren’t top-of-the-line, such as quartz or granite, to improve your home’s appeal and value.
Bathroom Renovations
Next to kitchens, bathrooms are among the most important rooms buyers check out and some of the more expensive renovations. Similarly, buyers are looking for good use of space, plenty of storage, and modern fixtures that make the room look open and inviting.
If you want to do a “facelift” of your bathroom, you could add a big window that allows natural light into the room (depending on where the bathroom faces) or add skylights that turn it into a relaxing spa-like environment. You could also look for built-in storage solutions that maximize available space.
Another option to consider is upgrading your fixtures with newer materials or redoing the floor, especially if it’s getting a little older. You don’t want water damage or dingy-looking tile, whether you stay or sell.
Create Curb Appeal
Your home’s first impression means everything. It’s the first thing guests see, as well as potential buyers, and gives them an impression of the inside. It’s important to consider design improvements to your exterior if you’re planning renovations.
Start with landscaping. It doesn’t need to be elaborate – some colorful flowers, healthy trees and bushes, and a groomed lawn make a world of difference to onlookers. You may want to add some flowerbeds, flower pots, or hanging plants to your porch to make it more inviting without a major financial investment.
Consider other exterior features, like your fence or siding. Worn materials or outdated colors aren’t a big deal to fix, and doing so could help your home stand out as a new and modern option in your neighborhood.
Embrace Open Concept
Open concept living spaces are popular for younger generations. With open walls that allow you to see from room to room, it creates an airy and connected feeling that can make your home appear much larger and more luxurious.
Creating an open floor plan is a relatively simple upgrade in many layouts. You just have to remove some of the non-load-bearing walls to take away the “closed off” feeling and create more sightlines. Many homes with an open floor plan combine the kitchen, dining room, and main living room as a central entertainment space.
Increase the Natural Light
Natural lighting has a big impact on the mood or ambiance of your home. It’s more inviting when you open the door and keeps your home looking bright and attractive all day.
If you have small windows, which are common in older homes, consider replacing them with large windows. A big picture window in a main room can make a huge difference compared to smaller, disconnected windows. You could also add skylights to bring in more light and complement them with soft color choices for furnishings and walls.
Get High-End Flooring
Flooring can be a pricey renovation, but it factors into your home’s appearance (and how easy it is to keep clean). More durable, modern flooring options can affect your home’s value, especially if you opt for hardwood floors that have a warm, welcoming look.
If hardwood isn’t in the budget, high-quality laminate that mimics real wood can be a durable option with a lower price point. Don’t forget the floors in the kitchen or bathroom, either, which should be water-resistant tile or durable flooring that can take the beating from high traffic.
Stick with Neutrals
While pops of vibrant colors can be beautiful and bold, neutral color palettes are a good choice for timeless appeal and versatility. Soft earth tones like gray and beige are clean and sophisticated, leaving you with endless options to add character to your furnishings and décor.
If you’re planning to sell, neutral is the way to go. These colors are more universally appealing and allow potential buyers to picture their own taste in your home, rather than being turned off by a loud color choice that doesn’t fit their aesthetic.
Go Green
Saving money with energy-efficient appliances and features is an important consideration for many home buyers. But even if you plan to stay in your home for a while, you can reap the benefits of choosing sustainable options.
If you have older windows and appliances, those should be upgraded. Energy Star-rated appliances consume less energy and water, reducing your utility bills and helping you do your part for the environment. You should consider adding insulation to your walls and attic as well, which can allow your heated and cooled air to escape and drive your energy bills up.
Make Smart Design Decisions for ROI
When you plan your renovations with resale value in mind, you can create a home that works for you now and with future buyers later. Focusing on strategic upgrades can help you maximize your home’s resale value while creating a space that looks and functions beautifully for you.
Author Bio:
Rebecca Denis, Head of Design at Revive Real Estate, is an accomplished and highly creative interior designer with over ten years of experience in the industry. With a passion for transforming spaces and a keen eye for detail, she has successfully completed numerous projects ranging from commercial spaces to custom show homes.