5 Home Improvement Projects To Increase Property Value
Presenting your home as its best is key for getting the most out of your property value. There are many minor and affordable home renovations you can do to significantly increase the property value.
If you’re looking to put your house on the market, here are some home improvement trends for 2020/2021 that buyers are looking for.
Now, let’s dive into 5 home improvement projects to increase property value
1. Minor Kitchen Remodel
The kitchen is without a doubt one of the biggest selling points of any home.
A simple cosmetic update of your kitchen goes a long way.
These can be easy improvements such as giving the kitchen walls a new coat of paint, painting the kitchen cabinets, and changing out the hardware to more up-to-date modern fixtures.
Look at the type of styles that are current and most popular and try to mimic them.
For example, brightening your kitchen is always an easy go-to. If your kitchen is more on the traditional side with dark wood and dark features, consider adding some light with a lighter coloured paint job.
If you want to take it a step further and invest in a kitchen remodel, it’s suggested $23,000 is the golden number. And you can expect to see a 78% increase in return from a good kitchen remodel.
2. Exterior Lighting
Upgrade your exterior light fixtures and lighting.
A well-illuminated exterior home can help grab potential buyers’ attention before they even step foot into the house.
According to a poll conducted in 2020 by The National Association of Realtors, 85% of buyers want this feature.
By simply upgrading spotlights, walkway lights, and pendant lights, you can increase the appeal and value of your home instantly.
Not only is a well-illuminated exterior a great aesthetic appeal, but also serves as a safety feature for your home as well. Taking care of lighting before transitioning homeowners, can help knock one thing off the home buyers list and worries.
3. Energy Efficiency
A massive selling point for new homeowners is having an energy-efficient home.
In fact, according to the NRA Poll, 90% of home buyers want this feature.
Improvement costs can range from a couple of hundred dollars or a couple of thousand dollars.
Affordable energy upgrades you can do to increase the property value are upgrading your fans, windows, and seals to be energy efficient.
In some cases, you don’t even need to replace the existing windows. There are energy star- qualified glass coatings and vacuum seals you can apply to your window to make them more eco-friendly.
As well as, upgrading your ceiling fans to have remote control access.
According to Energy.gov, ceiling fans can help raise the thermostat level by four degrees without having to use the air conditioner. This can help contribute to lower cooling costs in the summer.
Another huge added bonus to your home is solar panels. If you can fork up the cash to have some installed on your home, this can give you a massive return on your investment when it comes the time to sell!
4. Entry and Garage door replacement
According to the NRA Poll, replacing your front door with a new steel entry door has the highest return for home sellers.
Not only are steel doors better for burglary protection, but also for energy efficiency.
In 2020, more buyers are appreciating the appeal of a steel door, especially in cold winter climates. Unlike old traditional doors that let in plenty of hot and cold air from the outside. A steel door can help saver the indoor temperature and decrease costly temperature bills.
On the other hand, replacing your garage door with a new one pays for itself. You can recuperate the cost by about 95% in resale value.
Upgrading your garage door helps improve security and curb appeal – both of which increase the overall property value of your home.
5. Bathroom Upgrade
Just like your kitchen, bathrooms are a huge selling point for home buyers.
Depending on the age of the home, you don’t necessarily have to do a full remodel- just a face-lift.
To upgrade the appearance of your bathroom, give it a coat of paint, swap out fixtures and vanity lights. You should also replace anything that dated. For example, replacing the shower door and removing old wall coverings can completely change the feel of the bathroom.
Lastly, if you want to add another energy efficiency selling point you can replace the toilet with a low-flow model that uses less water per flush.
A kitchen and bathroom remodel continues to be the best investment you can make to boost the resale value of your home. If you have a little extra money to invest in home improvements, those two are where to put it.
Also, making minor cosmetic changes to your home can go a long way as the effort is clearly communicated to home buyers.
Just note that you don’t want to go overboard, don’t make one aspect of your home fancier than the rest of the home. Try to make the improvements flow with the existing state of the home – this is also a huge selling point to keep in mind.
And if you’re are looking to sell your home in Calgary, Airdrie, or Alberta, visit our Sell Your Home page to list your home with Derek Timmons and Maverick Group.
Categorised in: Real Estate
This post was written by Derek Timmons