Everyone wants to add value to their home. You would assume that every ‘upgrade’ you make would add value, right? Unfortunately, this is not always the case. Not everything you do to your space adds value. In fact, some additions may even lower your value. Here are some tried-and-true upgrades that will help increase the value of your home!
Finish Basement
Finish that basement! While the basement is not the place to blow your budget on bougie upgrades, it is an opportunity to add more finished square footage to your home’s title. Trends have found that keeping the basement finishes similar to the upstairs will get you the best return. Moldings, fixtures, and lighting should be similar in size and quality to the upper level. This will help the house feel cohesive and prevent the basement from feeling like a cheap add-on. You can focus your energy on keeping the ceiling height as high as possible, creating a functional layout, and maintaining temperature control. Great ways to utilize a basement is adding a kitchenette, a mother-in-law suite, or niche rooms like a movie theater that will give the space more purpose.
Bathroom Remodel
Bathroom remodels can be a great option to add value to your home. Updating the tub shower combo to a walk-in shower is a great way to start. Adding fresh neutral tile with minimal grout lines will appeal to the vast majority. New cabinet vanities with double sinks and a stone countertop will also be a fan favorite. Using a professional to handle the remodel will help you secure that ROI. No one likes a DIY job gone wrong. Unfortunately, these items, especially tile, are easy to get wrong and when not done correctly can actually depreciate your home value.
Kitchen Remodel
Similar rules apply to both Kitchen and Bathroom Remodels. Going big and extravagant with your remodel may not bring you the most ROI. Keeping your upgrades midrange will get you the most return. Major updates include a new kitchen layout, updating your cabinets to a shaker door style, adding stone countertops, and updating your flooring. If you want minor updates, try adding a backsplash, new hardware, and fresh paint! Changing out your appliances to be energy efficient is another great way to add value to your kitchen.
Replace Front Door
Replacing your front door is a great way to add curb appeal and increase energy efficiency. Studies show that an updated front door increases your perceived home value. Buyers will see a new door as one less maintenance item and a security bonus, as most new doors have improved security measures. Steel doors are also more energy efficient as they hold in heat and cool much better than older doors. ROI for new doors is almost always over 100%. It’s practically a no-brainer!
Neutral Paint
When it comes to painting, a good rule of thumb is to stick to a neutral color palette. This includes shades of white, beige, taupe, grey, and in some cases even black. Black is best used on feature objects such as doors, feature walls, and fireplaces. Some popular colors for walls are Sherwin-Williams Agreeable Gray SW 7029, SW Alabaster SW 7008, Benjamin Moore Gray Mist OC-30, SW Iron Ore SW 7069, Benjamin Moore Chantilly Lace OC-65, and SW Snowbound SW 7004.
Update Fixtures & Hardware
One of the most basic and possibly underutilized ways to add instant value to your home is upgrading your fixtures and hardware. Fixtures include lighting, faucets, door handles, etc. You can switch out older faucets for contemporary faucets in a variety of trending finishes to elevate your bathrooms. Changing out the infamous “boob” lights, for a more sleek, flush lighting will add more character and make your home feel less builder grade. Hardware on cabinets will make a big impact, making even dated cabinets feel more current. It’s a small change that may give you more “change” in your pocket.
