Which home renovations add the most value and what are the costs of a house remodel project?
Want to make some home upgrades? You don’t need to be selling anytime soon to add value to your home. Whether your house is older or newer, there are always things you can do to make your space better.
Here are some ideas for home renovations that add value. I’ve listed them from small projects that don’t cost as much to large projects that are most involved.
*This post does contain affiliate links, meaning I may receive a commission if you click on them, however it does not affect the price you pay if you purchase.*
Inexpensive Home Renovation: Painting
At a relatively low cost depending on how large your house is, painting probably has the best return in value. New paint freshens up old spaces like nothing else. It allows you to mask years of wear and tear.
It’s also a pretty simple skill to learn quickly. This goes for inside as well as outside your house. Never underestimate the power of a great color palette and a great paint sprayer.
Updating Lighting and Other Fixtures
Looking for some small things to make the biggest impact? Changing out cabinet hardware, replacing all of the light fixtures, and upgrading faucets/showerheads are where it’s at! These details may seem minor, but together they can change the look and feel of your whole house.
Check out the following items for some inspiration on these inexpensive but value adding fixtures.
A Great Way to Add Home Equity: Smart Home Tech
I love this up and coming category. If you want to stay ahead of the curve this area of home features is one of the fastest growing. Installing smart doorbells, thermostats, connected lighting, and even appliances are a moderate cost investment. But these will continue to skyrocket in popularity which directly translates to more value.
Take a look at just a few of these ever advancing gadgets to help you grow your home’s equity for relatively low cost.
Adding Attic Insulation Adds Equity
This upgrade not only adds future value to your home, it also saves you money on your monthly energy costs. This in turn helps the environment. A triple win!
Home Renovation Value Add – Curb Appeal
Upgrading your home’s outdoor areas comes at a moderate cost but can lead to some real increase in value. Paint, as mentioned earlier, can have a large impact, but replacing the garage door or adding a deck are also home renovations that add definite value.
Other Articles in Home Renovation:
More Equity for the Money: Flooring
New flooring throughout your home is a huge value addition. This could’ve been nearer the top of this list depending on materials you use and since installation isn’t overly complicated. However, to maximize your future value, hardwood is the way to go. And that stuff don’t always come cheap!
Replace Windows and Doors to Increase Home Equity
Most windows are good for 15-20 years, but even still the most common item I see on inspection reports are broken window seals. While not an emergency, this leads to fog between the window panes and decreases their ability to provide insulation. Much like the roof insulation, fixing these will bring down energy costs as well as save you the loss on appraisals.
A More Expensive Home Reno: Roof
Now we are getting into the largest investments on this list. The roof is obviously an integral part of the home and one that is intact and not too old will certainly add value.
Basement Renovation to Add Equity Value
Not an option for every home of course but for those that do have basements, finishing them will add a huge amount of value. Heated square footage accounts for a large part of the home’s total value calculation and if you can make the space into a functioning room such as an office or even a whole apartment that’s all the better.
Updating the Plumbing and Electrical for Increased Home Value
If you have an older house, consider making upgrades to the plumbing and electrical systems. Not only is this good for safety reasons, it could save you a larger expense in the future if something were to fail.
The Biggest Impact to Home Value: Bathroom and Kitchen Renovations
So these are listed here at the end because while they will probably provide you with the largest addition of dollar value, they also cost the most and require the most time and skill. You can always do a little over time like we did in this post about our kitchen renovation.
Also keep in mind when you are planning how you want to renovate these spaces, consider adapting them to be universally accessible. As more of the population continues to age, they will need spaces that can accommodate all kinds of needs, and you will add the most value with a renovation that meets that need.
Concluding Home Renovations that Add the Most Value
While you may not see a dollar for dollar return on investment from these ideas, they do go a long way in increasing your enjoyment of the space while you live there.
If you are looking for some more inspiration, HGTV has a fantastic list of even more renovations that add home equity. And do you have some ideas of your own of home renovations that add value? Drop it in the comments!
Love your paver idea/tutorial. I saw it on pinterest and plan on completing one at our home! Thank you!