Not all additions and upgrades are made the same. Some will add more value to your home and some, not so much. So how do you know which upgrades are the ones worth making? Put yourself in the buyer’s shoes. If you were looking at your home as an investment, which upgrades are you willing to pay for? Functionality and large expenses of a home are the ones that will appeal.
Which updates will add the most value to your home?
- Update your kitchen and/or bathrooms. Whether it’s a minor update or a full remodel, upgrading your kitchen or bathrooms offers one of the best returns on investment. Opt for timeless designs, but also consider current trends to ensure your updates stay relevant.
- Increase usable space. Consider adding an extra bathroom, expanding your kitchen or master suite, or creating more closet space. Converting unused areas, like turning a spare bedroom into a home office or a basement into a functional entertainment space, can significantly add value.
- Lighten and brighten your rooms. Freshen up your space with light-colored paint, such as whites or neutrals, to create a more open, inviting atmosphere. Consider adding skylights, larger windows, or French doors to let in more natural light.
- Revamp the exterior. Enhancing your home’s curb appeal with updated landscaping can attract potential buyers before they even step inside. Keep your yard well-maintained, with trimmed shrubs, trees, and grass. Adding colorful plants or painting the front door a bold color can make a strong impression. You might also consider adding a focal point like a flagstone walkway or a water feature.
- Consider deferred maintenance vs. true improvements. It’s important to distinguish between fixing issues to bring a home up to standard and making improvements that truly add value. While fixing things like plumbing or roofing is essential, it may not add much value beyond eliminating deferred maintenance, especially if it’s already on par with similar homes in the area.
When discussing how to increase your home’s value or evaluating its worth, remember that only an appraiser can determine its true “value.” While we as realtors can help assess pricing through a comparable market analysis, we want to clarify that we can only estimate the price, not the exact value.