Over the past few years, working and being at home more often has sparked the home improvement bug for many people. Sometimes we update our home to reflect our personal preferences and needs. For example, turning the spare bedroom into an office space because your co-workers were tired of listening to your children’s school lessons happening in the background was necessary. But, before you start tackling bigger projects, consider what future home value they will add when it’s time to put your home up for sale.

Home Value vs. Preferences

When you want to tackle a home improvement project, consider the cost of the project versus the return of investment. For example, if you had a three bedroom house and renovated one of the bedrooms into an office complete with built-ins, additional storage, and new flooring, you may not get all that invested money back when you sell your house. Bedrooms are more valuable to buyers than an office space especially if your home is now functioning as a two bedroom. Yes, a buyer could easily take down the built-ins, but all your investments did not add to the value of the home. Home appraisers won’t see the value in the converted office either.

Here are some home updates that can add home value:

  • Finished basement: A finished basement adds additional square footage to a home. If you have a smaller ranch or cape cod, this square footage can add more home value.
  • Remodel of kitchen: Most buyers look at the kitchen first when touring a home. Typically the money spent on the updates is recouped when selling. Don’t have the budget for a full remodel? You can paint your cabinets and change out just the doors for a more modern look. Add new door knobs and faucets to coordinate with your new cabinets.
  • Fresh paint: Nothing can be more impactful when upgrading your home, than a fresh coat of paint throughout. One of the least expensive changes you can make, adding neutral colors on the walls can help buyers see themselves living in the space. Many buyers have difficulty seeing through a bright pink or deep red wall even though it is an inexpensive change.
  • Freshen Up the Bathroom: Other than kitchens, the other area that buyers like to consider are bathrooms. You don’t have to do a major overhaul down to the studs to add value to your bathroom. Consider switching up the light fixtures or changing out the vanity. Have a little more in your budget? Get rid of the big whirlpool tub in favor of a stand alone tub with a walk in shower.
  • Replace Old Carpet: Changing up old, worn carpet for new adds instant home value to your house. Buyers will appreciate the fresh flooring.
  • Garage door: Nothing can help to improve curb appeal than a new garage door. It can instantly add character and interest to your home. You may not even need to replace the motor (depending on it’s condition).

Ready to tackle one of these projects in your own home, but are unsure how or if it will add value. Your local Realtor® is a great resource to get some additional insights. Knowing the local market and buyers, I can help you determine what projects will add value and which ones may not. Give me a text or call at 540-360-5166 to discuss your ideas on improving your home’s value.