If you are looking for the best home improvement projects to increase value, you are a savvy homeowner. Thinking toward the future when you are making home improvements is a great way to invest money into your home.
The best home improvement projects to increase value come with plenty of benefits for the here and now, but they also ensure you will see a nice return should you sell your home down the road. Weighing your options on where you want to put your home improvement dollars by considering the ROI that they offer is a great way to improve your home and your lifestyle. This list of the best home improvement projects to increase value is bursting with benefits.
New Garage Doors
A brand new residential garage door installation to replace old, worn, or faulty doors is one of the best home improvement projects to increase value if you have an eye on upping your curb appeal. Many homes are built with a garage right in front of the house. That means old garage doors can affect your curb appeal substantially.
Of course, aesthetics are only part of the benefit. With new garage doors, you can improve how you live in your home. Functioning garage doors that look great come with the following benefits:
- It will improve the security of your home. Faulty garage doors are an invitation for thieves to come on in. New garage doors help to add that extra layer of protection you want for your home.
- It is nice to pull up to a great looking home. You will feel better about your house once you replace those old doors.
- You will enjoy using your garage more. Highly functional new doors will make it easy to enter and exit your garage.
According to the experts, new garage doors will add an average of about $3000 in value to a home’s resale value. New residential garage doors cost about $6000, fully installed. This can be one of the best home improvement projects to increase value and your lifestyle.
If you really want to up your curb appeal and enjoy some major benefits like increased energy efficiency, new siding will do it. New vinyl siding will immediately upgrade the look of your home, and it comes with a wide range of benefits.
New siding comes in an array of colors and styles to complement any home. Siding can help to create a much more energy-efficient environment in your home as well. Of course, it adds some wow factor to the aesthetic of your exterior and you can enjoy these benefits as well:
- Vinyl siding is just about maintenance-free. All you need to do to keep your vinyl looking great is hose it off once in a while.
- It is extremely durable. Vinyl siding will look great for years to come, which means it can be a one and done project for your home.
- You can worry less about pests. Vinyl siding can help to keep pest populations away from your home. You can worry less about termite removal and focus more on treatment. Vinyl siding is not a pest friendly habitat for destructive pests like termites, carpenter ants, and other pests.
Vinyl is an eco-friendly material because it is fully recyclable. It’s an affordable investment. On a 1600 square foot home, it will cost you from $4000-$7000 to have vinyl siding installed. Experts say you can expect to recoup about 76% of that investment in resale dollars.
New siding also will make you feel better about your house. This versatile siding can help you to style your home the way you want. This may be one of the best home improvement projects to increase value for anyone who is sick and tired of dealing with high-maintenance siding, or who just wants a more updated look.
Many homeowners add new windows when they are adding new siding. Windows can be one of the best home improvement projects to increase value and energy efficiency. According to energy efficiency experts, you lose about 30% of your energy efficiency through old windows and doors.
New vinyl windows come with the same benefits as vinyl siding. Low or no maintenance is required. They look great, and they can add value to a tune of about $10,000 depending on the size of your home.
A New Fence
Another exterior change you can make that falls in the category of the best home improvement projects to increase value is to install a new fence. Fencing options are abundant. A fence company can provide you with a range of options to choose from.
Many homeowners are moving toward vinyl fence options because of the durability, lack of necessary maintenance, and beauty. Whatever fencing material you choose, expect to enjoy the following benefits:
- Heightened property security. A fence creates a perimeter that helps alert people to stay out unless invited in.
- Heightened safety. Kids and pets can enjoy time outdoors without you having to worry about them wandering away.
- Heightened privacy. You may love your neighbors, but it is nice to have a separate space to relax and not see anyone.
According to real estate experts, a fence can add anywhere between $500 and $5000 to the resale value of your home. It may be one of the best home improvement projects to increase value that also brings a lot of lifestyle value to your home.
Who doesn’t long for a nicely manicured lawn brimming with trees, shrubs and bushes. According to the real estate industry, every buyer is influenced by landscaping. About 60% of buyers surveyed said that landscaping influenced their purchase.
Landscaping is a great opportunity to not only add value to your property but also to create a great outdoor space for gathering with family and friends. Landscaping is something anyone can do on their own. Of course, if you are starting from scratch, hiring a landscape designer can be an easy way to get the basics installed.
Here are some benefits of having nicely landscaped property:
- It just looks better. A landscaped front and backyard look so much better than a neglected piece of property. You will feel better coming home to your beautifully landscaped yard.
- You can expand your living space with landscaping. A beautifully landscaped property beckons for friends and family to come outdoors to gather.
- It ramps up your home’s curb appeal. Landscaping makes your home look cared for.
How much overall value does landscaping add to the value of your home? About 14% according to real estate experts. Can you really put a price tag on how much lifestyle value you will get out of your landscaped yard? This is one of the best home improvement projects to increase your home’s value and how you live in it.
Minor Kitchen & Bathroom Remodels
Any real estate expert will tell you that kitchens and bathrooms sell a home. These two rooms are where you have the opportunity to really ramp up the value of your home. With kitchen and bathroom remodels, you do not have to go “all in” and start ripping out walls to make a big impact. Some minor remodeling projects like having upgraded residential plumbing fixtures installed, painting cabinets, adding new hardware, and new flooring will make a big impact.
Space management systems for the bathroom combined with new plumbing fixtures and a coat of paint can make a tremendous difference in a bathroom. Small projects can deliver a great deal of value. Other benefits that you get from minor kitchen and bathroom remodels include:
- Studies show you may eat better if you like your kitchen better. About 72% of homeowners surveyed after their kitchen remodels said they felt like they ate healthier after the remodel. If you like your kitchen more, you will spend more time cooking instead of eating take out.
- The kitchen is the heart of the home is more than just a saying. Families often gather in the kitchen. A few upgrades and some remodeling can make your kitchen a more welcoming environment for friends and family.
- You will fall back in love with your home. When asked, 90% of homeowners responded if they could change anything about their home, they would change the kitchen and or the bathroom.
How much value can minor kitchen and bathroom remodel add to the value of your home? According to real estate experts, kitchen and bathroom remodels can give you about a 26% return on your investment.
Another one of the best home improvement projects that increase value and can have a great impact on how you live in your home is finishing the basement. A finished basement adds a lot of extra square footage of living space to your home and can amp up the resale value of your home nicely.
You can easily take a three bedroom home and make it a five bedroom home with a basement refinishing project. There are a lot of things you can do with all that extra square footage.
If you need some more elbow room in your home, look below. Here are some benefits that you can gain from finishing your basement:
- The most obvious benefit is gaining the room you need to live comfortably in your home. Whether you need more bedrooms, another space to gather with family, or you have your eye on creating a home gym, refinishing your basement can deliver what you need.
- It can save on costs. Instead of trading up for a bigger, more expensive house, you can improve what you have.
- It can generate income. Most basements are roomy enough to transform that space into a “legal” apartment that can be rented out to generate income.
A finished basement is one of the best home improvement projects to increase value and help your home better suit your needs. You can get a return of about 70% on your investment.
Updates That Won’t Add Value
Invisible updates are updates that are done but that no one can actually see and therefore may or may not add resale value. For example, roofing service that you pay for to maintain your roof. It is a necessary activity but does not necessarily add value, like a brand new roof would.
A swimming pool is a great addition to a home for any family that wants to add some fun to their lifestyle, but it does not add resale value to your home. Swimming pool repairs are necessary to maintain your pool but it is not an investment that will deliver any ROI.
Even adding a new septic system and up to date septic tank maintenance will not add any resale value. Typically, the things that you cannot see, and that are required to maintain your home will not add resale that you can calculate.
Some money spent will improve just your lifestyle. For example, a new washer and dryer, or dryer repair is good for your lifestyle but will not improve your home’s value. Some things like a new HVAC system will possibly improve the odds that a buyer will be interested in your home because of the upgrade but will not add to the price tag.
Be a Savvy Homeowner
Making the right choice when it comes to picking the best home improvements to increase value will help to ensure you are not only taking the best care of your biggest investment with an eye on return. About 52% of homeowners are not even well-versed in their homeowner’s insurance policy. You do not want to be that homeowner. You want to be the homeowner who is well informed and makes good choices when it comes to where to invest your home improvement dollars.