Last Updated on July 7, 2022 by Kimberly Crawford
Home renovations are a fun, fantastic way to boost your home’s equity while simultaneously making your day-to-day home life more comfortable than ever before.
There are nearly endless options to boost your home’s equity in the current marketplace, so finding the perfect project for your specific needs becomes key.
To help you find the project that’s right for you, here are eight home renovations that are guaranteed to boost your home’s equity:
1. Installing a Home Elevator
Home elevators add home equity to your property in many ways. The accessibility residential home elevators add to your home makes the investment that much more worth it.
It’s fantastic to make your house comfortable for the differently-abled, and the elevator will ensure that you can move through your home easily if you ever sustain an injury that keeps you from going up the stairs.
The investment is perfect for those who want to add a sense of class and luxury to their property as well.
2. Refinished Hardwood Floors
Installing hardwood floors has remained one of the key ways to add home equity to your property over the years. Especially if you currently have carpet in your home, switching to hardwood can do wonders for your home’s value.
If you already have hardwood floors, however, simply refinishing them can help you unlock additional home equity, while simultaneously making your floors feel as though they’re brand-new.
3. Modernizing Your Bathrooms
Bathroom renovations are another old-faithful project to boost your home’s equity. There are endless ways to improve your bathroom’s layout, either for efficiency or style, so knowing what projects are bound to pack on home equity in the year you’re doing the project becomes critical.
Currently, adding a bidet, using neutral color palettes, and installing new showerheads are some of the most popular and effective ways to modernize your bathroom in a home-equity-boosting fashion.
4. Upgrading to Smart Appliances
If you’re not planning on taking your appliances with you in the case that you move, the quality of your home’s appliances can add a ton to your home’s equity value.
The best way to maximize the equity this unlocks is by upgrading your current appliances to smart appliances.
Smart appliances not only revolutionize what you get out of the appliances but make them highly energy-efficient as well. In the meantime, you’ll get the luxury of having access to these modernized, state-of-the-art appliances, so you’re sure to love this investment.
5. Sprucing Up Your Landscaping
Landscaping is one of the more charming and complex home equity-boosting projects you can take on. Knowing how to approach landscaping, and outdoor projects, in a way that is fashionable and practical is key.
Adding patios, upgrading your lawn to a manicured stone garden, and other such projects are perfect. However, taking into account the upkeep costs for landscaping projects is crucial if you’re considering going down this route to boost your home’s equity value.
6. Investing in Energy Efficient Windows
Energy efficiency is one of the must-have qualities of any modern home. With the price of traditional energy going through the roof, knowing that you can power your home, keep it warm, and more without breaking your budget is crucial.
For those looking to buy your home in the future, the energy-efficient nature of your house will remain incredibly important. Thankfully, energy-efficient windows are a tried-and-true way to ensure your property can take advantage of this key aspect of building your home’s equity.
7. The Perfect Kitchen Remodel
Kitchen remodels are perfect for home equity, and similar to bathroom remodels, are driven by modern consumer wants and needs.
Kitchen islands, induction stovetops, neutral color palettes, and other upgrades to your kitchen will prove incredibly useful for the time you spend in your home as well.
Kitchen renovations are often some of the most expensive projects to take on but are also near-guaranteed to give you a massive ROI in terms of home equity.
8. Adding a Home Office
Home offices are incredibly popular right now. As the work culture continues to shift to a more frequent work-from-home environment, homes that have a dedicated workspace installed are more market-friendly.
Whether you’re repurposing a room for a dedicated home office or adding on a new space for a home office, this project will provide a fantastic way to boost your home’s equity value.
Here’s to the Perfect Home Renovation
With the right grit, research, and smart budgeting, any of these amazing home renovation projects can become a reality.
To make your home stand out in the modern housing marketplace, you must do your part in making your house feel comfortable and filled with value. Thankfully, there are endless ways to achieve the ROI-packed home renovation projects you crave, no matter what budget you’re working with.
FAQs
What renovation adds the most value?
The answer may differ depending on your location, but in general, the following renovations are most likely to add value to your home:
-Kitchen updates
-Bathroom updates
-Finishing a basement or attic space
-Adding or expanding a garage
-Updating the exterior of the home (e.g., new siding, paint, roof)
-Adding or updating landscaping
Of course, any renovation will add some value to your home. But if you’re looking to maximize the return on your investment, these are the types of renovations that are most likely to pay off.
What is the cheapest way to increase the value of your home?
There are a number of things you can do to increase the value of your home without spending a lot of money. One way is to make sure your home is well-maintained and in good repair. This will give potential buyers the impression that your home is well-cared for and worth the asking price.
Another way to increase the value of your home is to make upgrades that will appeal to buyers. For example, upgrading the kitchen or bathroom can be a great way to add value to your home. These are just a few of the ways you can increase the value of your home on a budget. With a little effort, you can make your home more valuable and appealing to potential buyers.