Home Improvement Ideas That Unlock Home Value

Get more work-from-home space, update an empty nest or just refresh your space. A good home improvement project can add function, style, comfort and beauty to a house. Plus, the right renovation can increase your home’s marketability when it comes time to sell. Whether you’re thinking about new landscaping or installing new appliances, make sure to consider the return on your investment.

An upgraded kitchen can make your home more functional and attractive. It’s also a classic way to realize one of the biggest improvements in your home’s sale price. There are several ways to think about a new kitchen.

• A minor remodel generally includes new flooring, countertops, sink, faucets, appliances and perhaps refacing existing cabinets.
• A major remodel often requires custom lighting, semi-custom cabinetry and a built-in island. You may also want to changee the existing footprint of the kitchen to create a more spacious workspace.
• If you opt for an upscale remodel, invest in higher-end materials and smart appliances.

Costs will vary widely, depending on your selections. In calculating labor costs, keep in mind that a kitchen upgrade usually requires the skills of experienced plumbers, electricians and contractors.

A popular home improvement, installing new flooring is a simple way to increase a home’s resale value. Below are popular floor updates that can positively impact your bottom line.

• Hardwood flooring's quality and durability make it consistently a popular option.
• Tile flooring can be a good choice for bathrooms, kitchens, laundry areas and other high-traffic areas.
• Carpeting is one of the most budget-friendly flooring choices. It offers comfort, style and dampens sounds.
• Vinyl is versatile, durable and water-resistant. It can mimic the appearance of wood and tile.

Tip: Some flooring is easy to install yourself while others require professional help.

Energy-efficient upgrades can lower your utility costs and give your home a competitive advantage. Help improve the marketability of your home, especially if you’re looking to sell soon, with these ideas:

• Install a programmable thermostat. It's a budget friendly DIY project.
• Invest in thermal cellular blinds in key windows. They’ll keep your home cooler in the summer and warmer during colder months.
• Swap out your old windows for more energy-efficient ones. Although they require a higher upfront investment, new windows can pay for themselves in the long run.
• Add insulation to the attic, floors over crawl spaces and any accessible basement rim joists.
• Install a whole-house fan. For many homeowners it’s a cost-saving alternate to running the air conditioner non-stop.
• Make sure your home has properly ventilated eaves. This can increase airflow throughout your home and lower your need for air conditioning. In areas with cold winters, ventilated eaves also prevent ice damming on the exterior walls of the house.
• Replace old refrigerators, heat pumps or other appliances with new energy-efficient ones. Save on your utility bills and help reduce greenhouse gas emissions at the same time.

Make the most of your outdoor spaces with amenities potential homeowners look for.

• A new deck or patio is a popular way to build value into your home. Whether you’re starting from scratch or expanding what you have, go for stylish designs and materials that enhance the look of your home.
• Install a “fire feature”. Add a cozy fire pit, put in a stone fireplace, build a grill station or go all out with an entire outdoor kitchen.

Updating your outdoor space can make your life at home more enjoyable and functional while adding value to your home. Here are some upgrades that home buyers look for:

• Make sure your lawn and gardens are healthy and well-groomed. Weeding, trimming bushes and hedges, and maintaining flower beds are projects you can take care of yourself. Along with outdoor lighting, this can make a big difference in your curb appeal.
• A lush lawn’s best friend is a well-performing sprinkler system. Keep yours in good working order.
• Expand your garden area with low maintenance raised beds.
• Depending on where you live, xeriscaping can reduce water, lower maintenance costs and add significant value to your property.

You can see how deciding on your next home improvement project will require careful planning and a smart strategy. Make sure to factor in your design preferences, your family’s lifestyle and your budget into the overall cost of your next upgrade or renovation. Consider smarter financing options such as using the equity in your home to pay for small and large home improvements.

Keep in mind that adding value to your home is not the same as recouping the amount of money you spend on a home improvement project. Your return will vary based on your project, your material and design selections, the housing market, your location and even your neighborhood.