Home improvements or upgrades can make your home look nicer and function better, which can improve the way you live and grow within your home! In addition, there are renovations you can complete that may increase the value of your home. When planning renovations, it’s important to consider the pros and cons of different types of renovations, as well as your budget – you may think that any renovation will increase home value, but that is not always the case.
We created the following list to help you choose the upgrades and renovations that most commonly add value to Lake Oconee homes.
What Are the Best Home Improvements to Increase Value?
Here are our top five renovation projects that tend to make a house worth more:
Upgrading the kitchen is a tried-and-true way of boosting a home’s value and making it more desirable. Yet, it may surprise you to know that a minor kitchen remodel gives a higher return on investmentthan an upscale one.
What upgrades increase home value? Focus on updating outdated styles and adding new appliances. Simple ways to upgrade a kitchen include new cabinet hardware, cabinet and countertop refacing, and repainting.
Upgrading your bathrooms follow close behind kitchen upgrades as the next most worthwhile rooms in a home to renovate for the best value.
Bathrooms are like the kitchen – a mid-level remodel has the opportunity to provide a better return on investment than a high-end remodel. The essential part is to give the bathroom a fresh, new look, especially if you are looking to sell your home in the future. Create a place that prospective buyers (and yourself!) can envision themselves relaxing in for years to come.
3. Increased Space
If you've found yourself wishing your home had more space, you may want to consider an addition, as increasing the square footage through an add-on gives more value. Consider adding a bedroom, mother-in-law suite, or bathroom.
If this isn’t possible, talk to an experienced design-build contractor to see if you can add a bedroom or bathroom by taking away any unused or less valuable space that already exists. For example, adding an extra bedroom can provide more value than the space that you may currently use as a den.
Another idea is to better utilize the space you have by changing around the floor plan. For example, you may be able to knock down a wall or half wall to create a more open floor plan that makes your space more usable, practical, and modern.
4. Curb Appeal
The way the home looks from the outside plays a very important role in attracting people to look at your home in the first place. In addition to landscaping, here are some ideas on how to increase the value of a home through curb appeal projects:
Entry door replacement with a decorative door that stands out and beautifies the home
New siding, such as fiber-cement siding or vinyl siding, to freshen up the outside of the home
Garage door replacement, which often takes up a significant portion of the home's front, making it important
A portico over the garage door, which enhances the garage door and the entire front of the home
Manufactured stone veneer as a feature on the front of the home, which adds interest and grandeur
5. Energy Efficiency
A roof or window replacement won’t necessarily increase a home’s value, because they’re expected to already be good. Nonetheless, not repairing a damaged or aging roof, or not installing energy-efficient windows could bring the value of your home down – as well as increase the cost of your utility bill!
That being said, it is possible to gain value through energy-efficient choices, as people may look specifically for Energy Star-rated windows. Additionally, replacing older windows with insulated vinyl windows has the opportunity to provide a return on your investment through long-term money savings on your bills - especially in the winter months.
Ask for Guidance From Experts
Real estate agents and home renovation professionals have insights on the projects that are most likely to increase value compared to those that may not be worth it. In addition, local experts can offer specific advice targeted to your area and the market for your particular neighborhood. At Paxis Group, we not only believe in helping families renovate and build homes, but also in building lifestyles. Step inside a project spotlight, or view our gallery of homes to get inspired.
When you're ready, contact our team! Our experienced design-build team has over 100 years' collective industry experience – we want to be your first choice for top-notch custom home construction to make your dream home come to life.