Trendy Renovations to Boost Property Value
Every property's value can be boosted with the right renovations! Whether your home is from the 1950s or from the 2010s, it's important to consider what you can do to improve how much it's worth.
These are the top renovations that are trending this year and why they can add so much value to your home.
Update Your Siding
Your siding needs to be updated for buyers to even consider walking into your home. Board and batten steel siding has been a hot topic in recent years, as buyers want siding they can have faith in and love the large range of options of color. If your siding is older, discolored, cracked, or warped, it's a good idea to update it before your home hits the market.
Attic Bedroom Conversions
This update has become incredibly popular within the last couple of years and can add up to fifty thousand dollars to the value of your home, depending on where you are. Attic spaces are generally underutilized, and by turning them into extra bedrooms, you can create more space for a larger family to move into.
This can be time-intensive, but make sure you make everything out of sturdy and predictable materials. If you put in a cheap ladder or inexpensive spiral stairs, buyers won't feel safe turning this into a bedroom they actually use.
Increase Energy Efficiency
Energy efficiency is on the minds of every buyer. Nobody wants to overpay to keep their home at a temperature they’ll enjoy, so it’s a good idea to invest in ensuring your home traps in the temperatures and runs as efficiently as possible.
One of the largest ways to do this is to install polyiso exterior wall insulation. Regardless of what siding you have, this insulation will block out the weather and keep the interior of your home at a comfortable temperature.
It's also a great idea for homeowners to invest in getting smart thermostats. These are a must for almost every property and will keep your home at a comfortable temperature at all times. Not only will you be able to control your home's temp no matter where you are in the world, but you can also keep an eye on trends and figure out what your usage may be higher in some weeks.
Updating Old Windows
How old are your windows? Older windows aren't the best for your HVAC system and will make your energy bill skyrocket. If you have older windows, and a couple of them are out of date, but they're all generally functional, consider a minor repair or update.
Replacing portions of your windows will save you money while still ensuring your windows look like a matching set that makes sense together.
Keep Moisture Away
Moisture is no property’s friend. Water can cause rot, mold, flooding, and more, so it’s important that you take the time to guide it away from your house. You can do this through outdoor drainage and landscape drainage grates, by planting a rain garden, or even by adding a sump pump. Buyers are terrified of their homes flooding, for a good reason, so invest in making your property as flood-proof as possible.
Small remodels can change everything while adding the highest return on investment you can find! Instead of updating your entire kitchen, or doing a full bathroom remodel, take on small portions of these rooms and update those instead. Pay attention to how much money you spend, and avoid putting too much time and work into these while still making them look good.
A full remodel brings in a far lower return on investment, so it’s important to straddle that line.
Add Visual Intrigue
Visual intrigue is a must! This mighty tool can convince anyone that a property is worth more than it may actually be and gives you a chance to guide buyers' eyes to what you want them to see. From clever use of a white shiplap wall in an otherwise boring space to fun tile in the bathroom that creates a zen and spa feeling, have a little fun with your property.
Avoid going too overboard or severe since this might scare buyers away.
Create Outdoor Spaces
Outdoor spaces are king when you're trying to build value into your property! This means adding spaces where you can gather with friends and family and room for you to feel like you can relax for a while.
These spaces can be anywhere from a deck to an exterior kitchen or a lounging area around a fire pit, but be aware of how much money you're spending. Avoid spending more than 10% of your home's current value on the lawn, or you may struggle to recoup it.
Your Property Is Valuable
Whether this is your first property or your fifth, it's important to keep up with the trends. Follow some of these renovations to watch your property's value skyrocket in no time!
Andrea Erickson is a freelance writer that loves sharing her knowledge and expertise on building cleaning and maintenance. She lives in her hometown of Austin, Texas where she enjoys spending time with her husband and decorating with her children. Andrea’s work as a freelance writer can be found on Building Product Advisors, a new construction industry resource launching in Fall 2022.