Whether you’re planning on selling your house in the future or simply want to upgrade your living space, there are quite a few ways to update your home. Home remodel projects are popular and there’s no question about why. Not only will your house feel new and improved, but certain updates will greatly increase your home’s value.
It’s important to note that not every remodel project you do will add to your home’s value. Some updates might be strictly out of necessity. Other home updates, however, can do more than just pay for themselves. They can give you a bit more cash if you do decide to sell your home.
#1. Increase Usable Square Footage
If your home has an attic or basement, you can quickly turn those spaces into profit. Aside from where your home is located, usable square footage is one of the most important things that buyers look at.
Finishing your basement or attic opens up a lot more possibilities. You’ll have a lot more space to live and work in, but without having to build onto your home. While an unfinished area can still be profitable, you can increase your home’s value by simply painting the walls and laying down some carpet.
Making the area look like a finished living space will be time-consuming, but is well worth it in the end.
Another great way to increase usable square footage is by tearing down a wall. These days, open concept kitchens are particularly appealing to homeowners. Tearing down a wall between your kitchen and living space not only makes your home much more open, but it also adds to the usable square footage.
#2. Remodel Your Kitchen
On the topic of open concept kitchens, remodeling your kitchen is one of the best ways to improve your home’s value. Kitchen renovations are popular for all styles, ages, and needs.
Kitchen remodels don’t need to be huge, either. Even just a few small changes can have a major impact on your home’s value and draw in potential buyers.
Making minor changes to your kitchen over time can be an affordable way to increase your home’s value. You could replace the cabinets or fixtures. You could update your countertops and add shelving to improve storage space.
While major kitchen remodels are often what you see, minor kitchen changes can be just as efficient.
#3. Remodel a Bathroom
Similar to a kitchen remodel, remodeling a bathroom can greatly increase your home’s value. An affordable way to do this is by replacing cabinets or fixtures. Additionally, upgrading your bathtub or shower space is a great change to make.
Replacing sink tops can be another great choice for a partial bathroom remodel. If you can’t afford to fully replace the sink and sink top, you can replace only the faucet and make it feel brand new again.
The flooring of your bathroom can wear down very quickly. As such, updating the tile or flooring can give it a new life. You’ll probably need to hire a professional to replace the flooring, but you can certainly change out basic fixtures yourself.
#4. Add an Electric Fireplace
For homes located in colder places, having a way to heat your home during the winter months is a necessity. Perhaps you have a traditional fireplace, but maybe you use central heating instead. However, you heat your house, adding an electric fireplace can add to the value and aesthetic.
Electric fireplaces come in so many different styles that it’s incredibly easy to find one to match your home’s aesthetic. They won’t just help with interior decorating, though. Electric fireplaces are an amazing way to attract potential buyers and increase your home’s overall value.
There are a handful of reasons why to choose electric fireplaces over gas fireplaces. Buyers are easily attracted by them as they aren’t very messy. Unlike traditional fireplaces, for most realistic electric fireplaces you don’t have to buy and store firewood. This also means you won’t have wood chips scattered around your home.
An electric fireplace won’t just be an aesthetically pleasing or valuable addition to your home, though. Many electric fireplaces can even save you money on your monthly electric bill.
#5. Improve Lighting
Homes that are decades old may suffer from especially bad lighting. Whether your light fixtures themselves are old or the wiring hasn’t been updated since the home was originally built, improving your lighting can have a direct impact on the value of your home.
Natural light is best. If you can find a way to increase the natural lighting in your home, that should be your first goal. Moving mirrors to reflect existing natural light can help make your home feel brighter without much work.
If you’re unable to increase natural lighting, it can be worthwhile to invest in new light bulbs and fixtures. LEDs tend to be the brightest, but they may not give your home a warm, inviting glow. Try out different tints and bulb types before deciding on what you want to fill your home with.
#6. Improve Your Outdoor Space
Even if you aren’t all that into gardening, keeping your outdoor area well maintained can ensure that your home stays at a good value. Letting it decay and go downhill will lower your home value just like improving it will increase your home’s value.
Yards and gardens are important to many families. Showing that your home has great access to an outdoor space that’s not only beautiful but newly improved will have an immeasurable impact on your home’s value.
#7. Refresh the Paint and Caulking
Over time, paint begins to fade and caulking can crack or become stained. Not only does this look bad, but if you don’t fix bad paint or caulking, it can lead to damage in your shower and home.
Fresh paint always makes your home look and feel new again. New caulking will have your bathroom looking clean and fresh again. Luckily, you do both of these updates without having to call a professional, saving you money and giving you more freedom.
Thinking About the Long Term
Even if you’re not interested in selling your home at the moment or even in the future, it’s still a great idea to increase your home’s value over time. Living in a home that’s had some remodels and been updated over time also helps you enjoy your living space better than before.
Updating your home doesn’t have to be a huge project. Little additions over time like improving the light fixtures or adding an electric fireplace can have a major effect on your home’s value.