The Top Home Renovations that Increase Property Value

[Jimmy Lynn]

Kitchen Remodel: The kitchen is often considered the heart of a home, and a well-designed and updated kitchen can significantly increase property value. Focus on high-quality materials, modern appliances, ample storage space, and functional layouts.

Bathroom Addition or Remodel: Adding an extra bathroom or updating existing ones can have a positive impact on your property value. Consider modern fixtures, attractive tile work, and energy-efficient features.

Outdoor Improvements: Enhancing your home's curb appeal can make a big difference. Landscaping, installing a patio or deck, adding outdoor lighting, and improving the entrance can boost the overall value of your property.

Basement Renovation: A finished basement can provide additional living space, which is always appealing to potential buyers. Consider turning the basement into a recreation room, home theater, or guest suite.

Energy-Efficient Upgrades: Energy-efficient features not only attract buyers but also save on utility bills. Install energy-efficient windows, upgrade insulation, replace old appliances with energy-saving models, and consider installing solar panels if viable.

Open Floor Plan: Opening up the living spaces by removing unnecessary walls can create a more spacious and modern feel. Open floor plans are highly desirable and can increase the value of your property.

Updated Flooring: Replacing worn-out carpets or outdated flooring with hardwood, laminate, or tile can make a significant difference. Choose durable, low-maintenance materials that are in line with current trends.

Smart Home Technology: Integrating smart home features such as security systems, programmable thermostats, automated lighting, and voice-controlled devices can enhance your property's value and appeal to tech-savvy buyers.

Additional Bedrooms: Adding an extra bedroom or converting unused space into a bedroom can increase the value of your home. This renovation can be particularly beneficial if it aligns with the needs of potential buyers in your area.

Fresh Paint and General Maintenance: Giving your home a fresh coat of paint, both inside and out, can make it look well-maintained and appealing. Additionally, ensure that all necessary repairs and maintenance tasks are addressed before selling.

[Tyler Herlihy]

Hey! Is this list in any particular order or just generally stating things that can be done to improve value?

It seems to me that some of these items are much more significant value adders than others. 

Also one thing I have learned by working in multiple areas of the country is that different markets value upgrades differently. If you are anticipating a tight budget that will force you to pick and choose between certain updates, you should research the best value-add items in your particular market, not just throw in new paint (or a $50k kitchen) and call it good.

I also think your strategy comes into play heavily on choosing upgrades because flipping vs holding makes a big difference in your end client and their idea of a living space.