Every penny counts when it comes to adding value to your home. Whether you plan to DIY (Do It Yourself), or hire a handyman to help complete the work, there are countless different ways to increase the your home’s worth through home improvement projects. That does not mean you should go alter, repair, and update every single item and fixture that makes up your home. Do your research, and approach home improvements with intention and tact!
Believe it or not, there are home improvements that you can make to your home that will add little to no value to it. Do shiny, silver cabinet handles in the kitchen that cost you several hundred dollars actually add several hundred dollars of value to your home? They could, but there are many more factors of that kitchen to consider before placing a value on it.
13 Home Improvements That Add Value To Home
1. Add a Fresh Coat of Paint
This is one of the easiest and cheapest ways to add value to your home. Some properties can go years without being freshly painted. Even if your home is in good condition and doesn’t have interior damage, such as holes in the drywall, natural wear and tear from years of use can make the property appear damaged and therefore decrease its value. If you enjoy DIY projects, painting can be a fun project to participate in with friends or family members.
If you plan to rent out or sell your home, paint using neutral colors, such as whites, blacks, and grays, to attract more tenants and homebuyers.
2. Expose Brick
Here is another cheaper project but can be quite messy. You can use tools such as a masonry chisel to scrape away excess drywall and help make the brick pop. This new, rustic look is trendy!
Exposing the existing interior brick of a home can completely shift the dynamic of a room. Many newly renovated properties in cities like Philadelphia, PA are following this movement of exposed brick, and it is perceived to add value to a home if done correctly.
3. Add Window Boxes
A simple project but does add value to a home, especially if the right homebuyer is looking. Is your block lacking curb appeal? Add window boxes with beautiful flowers to give your house and your street extra glow. Who doesn’t love flowers?
4. Enlarge Closets
Now, let’s dive into expanding parts of your home. Closet space is a huge factor to many renters and homeowners. If you plan to sell your house eventually, and you are selling to an owner-occupant, large closets are a huge selling feature and could be the difference in them making you an offer or not.
Next time you walk into your closet, look around and ask yourself how you would feel with a few more feet of space.
5. Add a Hallway Closet
For smaller homes, you can increase its value by adding a hallway closet for coats and other small items. Comfort, space, and accessibility all matter to owner-occupant homebuyers. By making your property feel bigger and more spacious, it increases the amount of potential buyer pool that could show interest.
6. Update Bathrooms
Replacing the sink or replacing the shower tile are two quick and easy ways to update an existing bathroom in your house. Along with the kitchen, bathrooms are one of the primary rooms in the house that owner-occupant buyers pay attention to when shopping for homes.
7. Add a 1/2 Bathroom Downstairs
Does your property have extra square footage for more rooms? Having a ‘half-bath’ downstairs in a house makes it convenient for guests to use the restroom. Avoid sending people all the way upstairs to use the laboratory. You may find that you use this feature yourself as well. This small addition adds instant value to the bottom line of your home.
8. Add a Master Bathroom
This home improvement project appeals to both renters and owner-occupants. It doesn’t have to be hard either! If there’s an upstairs bathroom that stands alone, there may be an opportunity to demo a few walls and attach the bathroom to an existing room upstairs. This can be more affordable than making an entirely new bathroom from scratch.
For landlords, this adds a ton of value because you can now market your rental listing with a master bedroom and bathroom. If you rent out the rooms individually, you can typically charge higher rent for this room. From the perspective of an owner-occupant, you get to enjoy a large, comfortable, and private set up. If you resell your home down the road, the master bedroom will add value and positively influence the offers you receive.
9. Update the Kitchen
The kitchen is arguably one of the most important rooms in the house to many homeowners. It is often one of the first pictures shown in a professional, online property listing. Not to mention, if you love to cook and spends lots of time in this room, having an updated kitchen will bring more happiness to every meal.
There is no doubt that you do NOT want to skimp out when updating your kitchen. House Flippers will typically update the kitchen of a property to add value before reselling.
10. Replace the Floors with Real Hardwood
Similar to the walls, floors are another part of the house that have trouble hiding the ware and tear. If you want to add value to your home, replacing the existing floors with real hardwood can help your property stand out. Rugs can act as a good temporary solution to covering worn-out floors, but they are only a temporary solution. To truly add value, you can upgrade your floors to durable yet beautiful hardwood. These undoubtedly attract homebuyers when it is time to resell your home.
11. Finish the Basement
Finished basements are common in certain markets, and uncommon in others. Basements, in general, are common in certain markets, and uncommon in others. Take the earthquake zones of California for instance; you won’t find many basements out west! Either way, finishing a basement adds a ton of value to a home. It gives renters and homeowners the opportunity to create an entirely new room out of the existing space that was otherwise unused.
Tackling this home improvement project can be fun because the basement can have a different theme compared to the rest of the house. Allow your creativity to shine and make a new space in your home.
12. Add Central Air
The last two home improvement projects are related to weather; this one more so than the next. If you live in an area with scorching hot summers, once you add central air to your house, it is hard to go back. People who live in these hot areas can truly appreciate this and understand its value.
Many new homebuyers go into a property with the intention of adding central air themselves anyway. By adding this yourself, you get to enjoy it while living in your home and reap the benefit when going to sell later.
13. Add a roof deck
Out of all 13 home improvements that add value to your home, this may be the most enjoyable to use yourself once completed. Grab a rocking chair, along with a cold glass of lemonade, and soak up the fresh air from your rooftop. Roof decks are huge selling points that add major value to properties. Similar to finishing the basement, you can design this many different ways and truly make it your own, and it will still add plenty of value. This house feature will separate your home from the rest if you decide to rent or sell.
Knowing where to stay when thinking about home improvement projects can be difficult. Each project comes with its own pros and cons. Some take more time than others, and some add more value than others. Either way, it is worth considering both factors.
Alex Capozzolo, co-founder of Brotherly Love Real Estate
There are countless home improvement projects that you can start on today that will not only add value to your home, but also add enjoyment to your life. The cherry on top is having fun while building it if you decide to do it yourself. Always consider your specific market and what other homeowners are doing when deciding what home improvement project is worth your time and money.
