The year 2021 ended with home values increasing by 19.5% over 2020. The New Year brings a similar climb, with home values expected to jump by another 13%.
If you want to really maximize the value of your home, you’ll need to work on a few home improvement projects to add value to your home.
Not every home improvement project is a winner. A luxury renovation in a middle-class neighborhood won’t deliver returns. It’ll stick out like a sore thumb.
What are the things that add value to your home? Keep reading to learn about the top three projects to add value to your home.
1. Add Square Footage
When real estate agents evaluate home values, they price properties by square footage. If you can add more square footage, you can add value to your home.
The easiest way to do that is to turn unfinished space into useable space. A garage, attic, or basement can get converted into an additional room.
Roof dormers create additional space in a room by expanding wall space. A sunroom is another worthwhile project that adds more square footage to the home.
2. Simple Paint Work
Painting the home adds value because it updates the home. Repaint the front door to make it stand out and match the exterior makes your home welcoming and inviting.
An interior refresh lets you choose modern colors and accents that draw the eye towards a room’s best features.
A paint job doesn’t automatically add value to the home. You need to choose the right colors, notably for the exterior. The exterior color is part of curb appeal, which can repel or attract buyers.
A color like sage green offers these benefits and adds value to the home.
3. Focus On Efficiency
Sustainability and energy efficiency are important to buyers. You can draw those buyers by making your home energy efficient.
Replace the appliances with energy-efficient ones. Pick the right products and you might be able to get additional savings through rebates and tax credits.
Replacing windows and sealing drafts are other excellent ways to increase the efficiency of the home. If you want a small project that can make a big difference, upgrade the insulation in the home.
A large-scale project that pays dividends is to upgrade your heating and cooling system. This adds value because a new system lasts for years.
Buyers are willing to pay more for a new system because they know they won’t have to worry about it. Be sure to keep the paperwork for these updates.
How to Add Value to Your Home
There are a lot of ways to add value to your home. If you want to get the best resell price when you put your home on the market, turn to these tips.
Add square footage, make the home energy efficient, and update with paint. These things will help you get the most value for your home.
Be sure to visit the blog for more home and interior design help today!