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Home renovations can be a reliable way to increase your resale value, attract potential buyers, and improve the overall livability of your home. That being said, renovations can also be a massive unnecessary expense if you don’t do your research and choose improvement projects that will give you a high return. To help you invest your budget wisely, here are four renovations that should increase your home value:
1. Remodel Your Kitchen
The kitchen is one of the popular areas of the home to renovate and kitchen upgrades are considered to give some of the highest returns when it comes to renovations. Opting for a complete kitchen remodel can have a dramatic impact on your home and instantly boost your resale value. However, small upgrades can still have a big impact and a minor kitchen remodel can give an impressive 81% return on investment according to the Remodeling Cost vs Value Report.
Some affordable projects to enhance your kitchen space include refinishing the cabinets and worktops, replacing old appliances with more energy-efficient models, and giving the walls and ceilings a fresh coat of paint. Upgrading your lighting can be another simple way to modernize your kitchen area and create a more welcoming atmosphere.
2. Create a Home Office
Remote working is becoming increasingly popular. More companies than ever are offering flexible working and allowing employees to work from home. With this in mind, creating a home office is an excellent way to attract potential buyers and increase your real estate value. You can easily convert a spare bedroom, the basement, or even your attic into a functional home office. Make sure your home office has plenty of usable workspace and electrical outlets to allow you to complete your work tasks efficiently.
3. Add a Swimming Pool
Installing an outdoor pool can give your home a more luxurious feel and help you attract high-end buyers. Having a swimming pool can also be a key selling point if you decide to sell your home and could increase your property value by 7% according to real estate experts at HouseLogic. Having access to a swimming pool can also enhance your livability, especially if you live in an area with a warm climate. If you have a pool installed at home, then keep in mind that you will require a regular pool maintenance service to keep your swimming pool in the best condition.
4. Upgrade Your Windows
Upgrading your windows is a fairly simple home project that could instantly boost your property value for various reasons. Firstly, you can use new windows to increase the amount of natural light in your home and make rooms appear bigger and brighter. This will make your home appeal more to potential buyers and create the illusion of additional space. Installing new windows can also improve the security of your home and protect your living space against the risk of break-ins.
Another key benefit of new windows is that they can make your home more energy-efficient by providing better insulation and reducing cold drafts. Opting for energy-efficient windows should lower your monthly utility bills and make your home more attractive to eco-conscious buyers.