7 Home Renovations That Add Value to Your Home
Upgrading and renovating your home is such an exciting time. You get to create the home you’ve always wanted, make your day-to-day life easier with upgraded appliances, and update the decor to reflect your style.
The difficult part is deciding what home renovations are the best choice and investment for you and your family. One of the most important things to consider when renovating your home in 2021 is how it will add value to your home long-term.
If you’re thinking of selling your house later, renovating your kitchen or remodeling your bathroom is a great way to increase your home’s value.
In this article, we’re going to look at 7 home renovations that will definitely add long-term value to your home.
1. Upgrade your kitchen
The kitchen is considered the heart of the home, making it one of the most popular areas for renovations. Remodeling a kitchen can also be an exciting and satisfying experience. Plus, when you renovate your kitchen, you can expect to get back about 52% of the cost of your kitchen upgrade.
Some of the best kitchen upgrades you can do to improve a home’s value are things like:
- Giving your kitchen walls a fresh coat of paint
- Installing energy-efficient appliances
- Putting new flooring down
- Installing new light fixtures
- Putting in a kitchen island
- Updating faucets and fixtures
2. Add another bathroom
If your home only has one bathroom, adding a second one is a great renovation idea. Not only will it make it easier for you and your family, but your home will be easier to sell in the future if it has more bathrooms.
Having an extra bathroom in your house makes your home have 31% better functionality, which will make your home more attractive (and therefore worth more money) to potential buyers.
3. Update your current bathroom(s)
If you don’t have the space or budget for a new bathroom addition, look at updating your current bathrooms and en-suites instead.
We spend a lot of time in the bathroom. Whether it’s for doing our daily skincare routines, taking a nice shower, or going for a relaxing soak in the tub, the bathroom is an essential part of any home.
If your bathroom hasn’t been updated in a few years or since you moved in, it’s probably time for an upgrade.
You could get a new tub, install a nice new shower, or even update the walls, floors, and vanities. Whatever it is you want to do, giving your bathroom an update is pretty much guaranteed to increase the value of your home. In fact, homeowners can recover about 57% of their bathroom remodel cost when they sell their home.
4. Update your HVAC system
When was the last time you updated your HVAC system?
Has it been serviced, cleaned, and maintained throughout the years?
If the answer is no, then it’s probably about time you started thinking about upgrading to a modern, new HVAC system.
An HVAC unit is an integral part of any home, and a reliable system is a real selling point for future buyers. Your HVAC unit is what keeps your home running. It keeps it cool in the summer, warm in the winter, and it filters out any harmful allergens and bacteria from the air.
When you upgrade your HVAC unit, you can expect to make back about 85% of the cost when you sell your home. So, not only is upgrading your HVAC system good for your time living in the home, but it also increases the value of your home later on.
5. Install energy-efficient windows
Homebuyers tend to shop for properties that are built with energy-efficiency in mind. Many people love houses that have environmentally-friendly aspects (especially if they save on the energy bills), including energy-efficient windows.
Energy star claims that you can save $500 a year in heating and cooling costs by using energy-efficient windows and making your home, in general, more energy-efficient. Those savings are an incredibly attractive feature to have in a home, especially when selling it later.
6. Upgrade to energy-efficient insulation
If your home is old and lacking basic insulation, prospective buyers might be wary of paying the asking price for your home – as they’ll have to invest in upgrading it themselves.
Homes that have been modified or built with energy-efficiency features are more cost-effective to run, and therefore, a lot more interesting for potential buyers.
Making your home more insulated doesn’t have to be expensive either. For example, you can add some extra insulation to your attic for less than $200, potentially saving you hundreds on your utility bill each year.
Leaks are also a common cause for heat escaping a home, and fixing them can help improve your home's insulation and increase your home's value.
You can often discover leaks around:
- Electrical sockets
- Light switches
- The attic hatch
- In the basement
- Where ducts & wires lead outside
Finally, seal any cracks in your home to save money, improve your insulation, and make your home more appealing to potential buyers.
7. Update your lighting fixtures
Light fixture updates are probably one of the simplest upgrades to do on your home, but it improves your home's value.
You’ll be blown away by how much updating your lighting fixtures can make your home feel more warm, inviting, and cozy.
Home renovations are a great way to increase your home’s value and make your property more appealing to potential buyers.