Whether you’re listing your home or you’re trying to build home equity, increasing your property value is an ideal first step to take. With endless amounts of HGTV home improvement shows and countless advice articles online, it’s hard to know which remodeling ideas are worth the hassle, and which aren’t worth the headache.
These are six surefire ideas to increase your property value, and get the most return on your investment.
If your roof is in shambles, getting a new roof is a great way to increase property value. In fact, according to HomeAdvisor, a new roof can increase a home’s resale value by up to $12,000. That’s a worthy investment in our book.
There are numerous options for your roof, so you’ll want to do a bit of research to determine which roof type is best for your home. If you want to amp up energy efficiency, solar shingles might be an ideal investment. It can help you cut energy costs, and it’s an appealing add-on for potential homebuyers. There are also the traditional choices, like asphalt, slate, wood, or metal shingles, too. However, if you’re going with a more conventional shingle type, like wood, you might look at synthetic roof shakes instead. Synthetic shingles and shakes offer the look and feel of traditional materials, but they’re more cost-effective, and typically more durable than the conventional alternatives.
According to research, the most cost-effective and impactful remodeling project for a mid-range home is a wooden deck. It’s no surprise since homebuyers are often looking for a backyard that they can see themselves socializing and relaxing in. Wooden decks are a classic staple of dream homes, so adding one to your house is a terrific move for increasing property value.
Any real estate agent will say that it’s the kitchen and the bathrooms that sell the home. So, remodeling these areas are just common sense. The easiest way to transform either of these rooms is with new countertops. Go with a non-porous, durable material like quartz countertops, and you’ll be sure to wow potential buyers. Quartz is fantastic because it’s much easier to maintain than natural stone, but it still looks luxurious.
In addition to counters, focus on storage space, cabinets, and drawers. For the bathroom, a new shower is always a winner, and for the kitchen, a new backsplash can make all the difference.
If it’s in your budget, increasing square footage is a clear way to add property value. Homes are priced based on square footage, so having extra will undoubtedly add value. People often want more space in their laundry rooms, kitchens, bathrooms, and master bedrooms, so these are great places to add a little more space.
Additionally, you can add a mother-in-law suite, an extra room, or even a second floor. If you don’t want to add actual square footage, you can focus instead on adding livable square footage and turn your attic, garage, or basement into a livable space.
If your floors are in bad shape, consider redoing them. Buyers often prefer hardwood over any other floor type, so if you don’t have hardwood, consider getting it. Also, carpet is a huge turnoff. So, even if your floors are in decent condition, if you have carpet, it might be worth a changing it up.
Other floor types to consider are polished concrete, vinyl or synthetic hardwood, or natural stone. Interestingly, light-colored floors are making waves in the design community right now. So, more people are leaning towards pale and white woods, as well as grey floor colors. So, if you want to be ahead of this trend, do a little digging on pale and grey flooring ideas.
We already talked a bit about energy-efficiency with solar shingles, but buyers are hungry for energy-efficient homes. Even if you aren’t planning to sell and are just working on home equity, opting for energy-efficient appliances and designs can increase your property value as well as save you money on utility bills.
Aside from upgrading to energy-efficient appliances, you can also change all your windows, lights, and insulation to maximize energy efficiency. To hit this trend home, you can consider going fully solar powered with PV solar panels, which are a known way to increase property value.
These are six proven ways to increase the value of your property. Make sure to stay on budget and choose the projects that make the most sense for you, and avoid doing any unnecessary remodeling. Whether you decide to try one or tackle them all, these six projects are sure to boost the worth of your home.
Mandy Lee is a contributor to Innovative Green Building Materials. She is a blogger and content writer for the building materials industry. Mandy is focused on helping fellow homeowners, contractors, and architects discover materials and methods of construction that increase property value, maximize energy savings, and turn houses into homes.