A survey done by Houzz found that Americans spend an average of $15,000 per renovation or remodeling project.
Some home improvement projects are done to modernize and update worn-out features in the home. While other home projects are done to enhance curb appeal and increase overall home value in the event of a resell.
If you’re looking for innovative ways to spruce up your home and potentially boost value at the same time, you’re in luck. Take a look below at 5 home upgrades you can use to increase your home value.
1. Kitchen Remodeling
Kitchen remodeling doesn’t have to be a big knock-out, tear-down endeavor. In fact, the more custom remodeling you do, the more you could hurt your chances of reselling your home when the time comes.
Potential homebuyers don’t want to have to put a lot of extra work into remodeling a kitchen. If your kitchen is too nichey looking, it could be a big turnoff. Instead, focus on beautifying well-worn areas like kitchen cabinets, countertops, and outdated appliances.
Don’t go too overboard on the latest expensive high-tech appliances, though. Functional and moderately priced modern-looking appliances will work best for home upgrades in the kitchen.
2. Front Door Replacement
Your front door is one of the first impressions your home makes on guests. The same can also be said for potential homebuyers. If you’re looking to sell your home in the near future, the simple act of updating your front door can have a massive effect on home value and curb appeal.
Front doors are an investment in your home’s future. They’re also one of the easiest home upgrades you can do that doesn’t require a massive remodeling project. When the opportunity to resell your house knocks, you’ll be glad you made this small but impactful change.
3. Floor Refinishing
Floors are, without a doubt, one of the most widely used features in a home. Over time they suffer a lot of wear and tear. So it makes sense that refinishing or replacing it would not only revitalize your home but also boost its value, as well.
According to Architectural Digest, hardwood floor refinishing has an average return on investment (ROI) of 147%, making it one of the most successful home upgrades to add home value. It is followed closely behind by adding new wood flooring with a 118% ROI.
4. Bathroom Renovations
Bathroom renovations follow closely behind kitchen remodeling as one of the most common home upgrades. Some homeowners opt for total bathroom makeovers or putting in full en suite bathroom additions, while others may choose a more conservative approach.
The extent of your bathroom renovation may vary based on your overall home improvement budget. Remember though, your unique tastes may not transfer over to future potential homebuyers, so don’t go too crazy. Also, you can’t take that jacuzzi tub with you when you go, so plan and budget your bathroom remodeling project accordingly.
5. Landscaping Overhaul
Believe it or not, but one of the best home upgrades you can do to boost value and improve curb appeal is outside of your home. That’s right, your landscaping is a vital element of what contributes to your overall home value.
Landscaping also has an impressive 100% ROI when it comes to home improvement projects. You can make your home more appealing to prospective homebuyers by incorporating elements like drought-resistant plants and other sustainable native flora.
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Home upgrades don’t always need to be a massive home improvement or remodeling project. As you can see, it doesn’t take much effort to make a big impression. It’s often the little touches we make to our homes that can help them feel inviting and enhance curb appeal.
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