Home improvements make your house more attractive and functional for you to live in, but they can also add value when you eventually sell it. Conventional wisdom says kitchens and bathrooms sell homes, but there are a variety of other projects that also increase your home’s value. These include new windows, roof repairs, a basement finish and landscaping.
Many of these projects are inexpensive, quick and do-it-yourself (DIY) tasks that are easy to find the supplies needed at your local hardware store. A fresh coat of paint, especially in a light color, is one of the best and least expensive ways to instantly upgrade your home’s curb appeal. A new front door is another way to boost your home’s exterior appearance. If you want to add a bit of color to your exterior, try planting a few shrubs or putting in some perennial flowers.
The demand for outdoor spaces continues to surge as people spend more time at home during the pandemic. This has led to an uptick in patio, deck and porch renovations. Adding an outside kitchen, office or living space like a sunroom can be an excellent way to increase the usability of your home and add value.
If you’re planning to sell your home in the future, talk to a real estate agent before making any major changes that may not pay off when it comes time to sell. Then, choose the projects that make sense for your lifestyle and budget.
In 2023, kitchen and bathroom upgrades will continue to dominate the list of top home improvement projects, but other projects are also becoming more popular. For example, the growing number of homeowners living in coastal areas is driving a surge in hurricane and storm mitigation solutions. And heightened health concerns are prompting some homeowners to invest in HVAC upgrades that improve air filtration and purification systems.
Depending on your location and home’s price range, some projects will have more appeal than others. Kitchens and bathrooms remain the top interior home improvements for resale value, while landscaping is among the most appealing outdoor projects. However, not all projects will have the same resale value, and some may even be detrimental to your home’s resale value.
Some home improvement projects are more expensive and complicated than others, but there are plenty of smaller DIY (do-it-yourself) projects that can add big value to your home. For example, installing crown molding can give a room an instant update without breaking the bank. You can purchase pre-cut molding at most hardware stores, and it’s a relatively simple task to install.
A minor bathroom remodel is a low-cost and efficient way to increase your home’s value. Replacing old bathroom sinks, tubs and toilets can quickly make a room look brand new. Likewise, replacing old tile and caulking can drastically improve your bathroom’s overall appearance.