Home improvement is a broad category that covers a wide variety of projects and improvements, from minor paint jobs to major bathroom renovations. It can be a great way to add value to your house, but it’s important to keep in mind that not all projects will increase the home’s value or make it easier to sell. It’s also a good idea to consult a real estate agent before starting any home improvement project. They can help you determine which improvements are best for your house and what might increase its resale value.
Whether you’re a fixer upper fan or simply enjoy watching This Old House, it’s no secret that a well-kept home can increase its value. In fact, according to a NerdWallet survey, nearly all homeowners (95% to be exact) are considering taking on some type of home improvement project within the next two years. The majority of those are looking at smaller projects, like painting a room or updating light fixtures, but the same percentage are considering larger ones, like renovating their kitchen or adding a bathroom.
Many homeowners rely on home improvement shows for inspiration when planning their own home improvement projects. But while it’s one thing to watch the experts at work, it’s quite another to actually complete the tasks yourself. Fortunately, there are plenty of easy DIY home improvement ideas that can save you both time and money.
While many homeowners are still hesitant to buy new homes amid the Covid pandemic, they’re still willing to invest in upgrades to their current houses. Lowe’s and Home Depot both reported that consumers are deferring more ambitious home renovation projects, but they’re not dropping their plans altogether.
Home improvements can be a great way to increase your property’s resale value and enjoy a more comfortable living space. However, some improvements have a greater return on investment (ROI) than others. Here’s a look at the top five highest-returning projects.
1. A home office
Creating an at-home workspace can add value to your home and improve its resale appeal. It’s an easy and inexpensive way to transform your living space into a productive workspace and boost the overall curb appeal of your home.
2. A master suite
Adding a master bedroom and bathroom to your home is a great way to increase its resale value. This is a luxury that many buyers are looking for, especially those with children.
3. A high-efficiency furnace
Upgrading your heating, ventilation, and air conditioning system is an affordable way to add significant resale value to your home. It will not only increase your home’s energy efficiency, but it will also lower your monthly utility bill.
4. New appliances
Updating your kitchen and laundry room appliances is an easy way to add value to your home. Plus, modern refrigerators, washer-dryers, and dishwashers are more efficient than older models and can significantly lower your utility bills.
The cost of most home improvement projects is largely influenced by the price of materials, labor, and supplies. That’s why it’s important to know how much each project will cost and what the estimated ROI is before you begin work.