7 Home Improvements That Will Increase Your Home’s Value
Do you walk around your home making a mental list of the projects you’d like to accomplish? Maybe you want to modernize your bathroom, upgrade the appliances in your kitchen, or redo your outdoor landscape.
Whether you want to update your home so you can enjoy it more or you plan to sell, improvements can help raise its value. This added value can also increase your home’s equity, which can come in handy for future renovations or upgrades.
From room renovations to landscape makeovers, this article offers seven home improvement ideas that will help increase your home’s value. It also provides affordable options for covering these expenses without breaking your budget.
Ready to check some projects off your list? Keep reading to learn where you should start.
1. Basic Repairs and Decluttering
Before jumping into any major projects, it’s essential to address any minor repairs around your home. Fixing leaks, squeaky doors, worn-out door frames, or banisters can make a significant difference. These quick fixes create a positive first impression.
In addition to repairs, decluttering is another easy way to boost your home’s value. Start by organizing cabinets, closets, and storage spaces—removing anything you no longer need or use. Instead of discarding items, consider donating them to a local charity.
These simple yet effective updates will help create a cleaner, more inviting space, making your home more attractive to potential buyers.
2. Update the Kitchen
For many families, the kitchen is the heart of the home. Giving this room a little attention can bring big rewards while living there and when it’s time to sell.
Some easy kitchen updates that can add value to your home include replacing the flooring, repainting the walls and ceiling, and updating your cabinet fronts, countertops, and appliances.
These updates are less costly than major remodels, such as adding new cabinets, an island, extra appliances, or custom lighting, and typically result in a better return on your investment.
3. Freshen up the Bathroom
Like kitchens, bathrooms are frequently used and highly valued by homeowners and potential buyers. Functional, organized, and easy-to-clean bathrooms can go a long way.
If you want to refresh your bathroom, consider updating your tub, shower, toilet, and vanity with more modern versions. You can also repaint the walls and ceiling, replace flooring, and update mirrors, hardware, and light fixtures.
These affordable updates can help build your home’s equity and yield a higher return on investment. When buyers can picture themselves relaxing in your bathroom, it becomes a significant selling point.
4. Make Your Home More Energy-Efficient
Although not as glamorous as a room renovation, making your home more energy-efficient will help you save money and appeal to homebuyers if you plan to sell.
You can increase your home’s energy efficiency by installing energy-efficient appliances, replacing leaky windows, adding insulation, and putting on a new roof. Other considerations include installing a smart thermostat and a more energy-efficient HVAC system.
While some of these upgrades might cost more than you expected, the long-term benefits can be substantial. They can help reduce your utility bill, serve as a major selling point for future homebuyers, and you may also qualify for tax credits.
5. Add Usable Square Footage
It’s important to remember that homes are valued and priced by their livable square footage. The more you have, the better off you’ll be. If you have an unfinished space in your home, such as an attic, loft, or basement, converting it into a flexible living space is a smart option.
Flexible living space is very appealing to homebuyers as it can be used as a home office, guest room, in-law suite, family room, or anything else they might need.
Even if you don’t plan to sell your home, the added footage can create more space and functionality for you and your family.
6. Boost Your Curb Appeal
Enhancing your home’s curb appeal makes your outdoor space more enjoyable and can increase your property’s value. Whether you’re preparing to sell or simply want to upgrade your home’s exterior, there are several updates that can make a big impact.
Looking for inspiration? You could start by replacing key features like your garage door, front door, or vinyl siding. For something more transformative, consider adding a walkway, a new patio, or even an outdoor kitchen to enhance your outdoor living space.
Smaller updates can be just as effective—new rain gutters, planting shrubs, adding decorative planters, refreshing mulch, and power washing your driveway can all create a fresh, inviting look.
According to Bankrate, investing in outdoor improvements is always a win. These updates can increase your home’s value, help it sell faster, and you’ll likely recoup what you put into it.
7. Give Everything a Fresh Coat of Paint
One of the least expensive ways to freshen up the interior or exterior of your home is to give it a fresh coat of paint.
If you plan to sell your home, stick with neutral tones and focus on high-traffic areas, such as the entryway, family room, and kitchen. You should also repaint any rooms that have a unique color scheme. For example, maybe you painted your daughter’s room hot pink because that was her favorite color when she was little.
Some outdoor considerations include painting your front door, shutters, a detached garage or shed, and possibly your entire home.
Planning to stay in your home? A fresh coat of paint can also positively affect how you feel about your living spaces. Over time, walls collect dust and dirt, and colors go in and out of style. Applying new paint can make rooms look cleaner, fresher, and more stylish.
How to Finance Your Home Improvements
Now that you know which improvements will increase your home’s value, the next step is determining how to pay for them. If these expenses are already built into your budget, you’re all set! But if you need additional funding, there are affordable options available.
One of the most effective ways to finance your projects is by tapping into your home’s equity. A Home Equity Loan or Home Equity Line of Credit (HELOC) allows you to access funds at low rates and with affordable monthly payments—helping you transform your equity into something more.
Ready to bring your home improvement plans to life? Schedule a call with one of our lenders to explore your home equity options and find the right fit for your financial goals and needs.