The Top 5 Home Improvements to Increase Your Home's Value

If you’re getting ready to sell your home in Newtown, Danbury, or Fairfield Connecticut in the near future, you are certainly already thinking about how to get the most money out of it that you can. You already know that you need to make minor repairs and improvements, but what about significant changes?

There are a variety of home improvement ideas that can help you increase the value of your home so that you can make a better profit when you sell. However, make sure you choose the right projects — not everything has a strong return.

Even if you plan to stay in your home for a little while, these improvements can make your home more comfortable and give you a better price when you sell as well.

What home improvements should you consider? Let’s take a look.

#1 Redo the Kitchen

The kitchen is the heart of your home — and it’s the biggest selling point, as well. There’s very little that influences buyers more than a nice kitchen. If your kitchen stands out, you may be able to sell your home quickly for a great price.

However, you won’t be able to recoup 100% of your investment in your new kitchen, so don’t break the bank simply to add value. Experts estimate that you will be able to increase your home price by between 62% and 81% of the remodel costs.

If you can’t remodel the entire space, consider high-impact changes first. For instance, new countertops can completely change the feeling of a kitchen. Replace or repaint cabinets and install a new faucet for smaller projects with a big pop.

The kitchen is one of the focal points of any home, so renovating it adds value.

#2 Add a Deck

Everyone loves having an attractive deck to enjoy and entertain on. If you have a large enough yard, consider adding a deck as a way to increase functional space while increasing the value of your home.

Unlike most renovations, a deck will allow you to recoup more than 100% of the cost. A professionally installed deck space can allow you to add 106% to 122% of the project cost to your home’s price.

Well-made decks are low maintenance and help your backyard space look more attractive. When you add aesthetics to function, you’ve got a winning project.

#3 Work On Outdoor Curb Appeal

First impressions mean the world, especially when it comes to looking at homes. If people see a well-kept, beautiful yard, they will think you also do a great job keeping up your property on the inside. If it’s unattractive, well, they’ll assume the opposite.

Improving your landscaping doesn’t have to be expensive, either. You can focus on trimming trees and bushes and planting attractive flowers alongside your home. Put mulch around trees and bushes for a polished appearance.

Finally, make sure your siding is clean and consider replacing your door for a new look as well. A new entryway is one of the best home improvements to boost value compared to the project’s cost.

When your home is “dressed to impress,” you can expect more interest and a better price when you sell!

#4 Improve Insulation and Efficiency

Improving your home insulation and energy efficiency doesn’t have the wow factor of new countertops or a basement renovation. Still, it is one of the most effective ways to increase your home’s comfort and value.

Consider having your home insulation reviewed and getting an energy audit from your power company. They’ll have ideas on what you can do to improve energy efficiency, from better appliances and insulation to sealing windows and doors.

Insulation added to the attic and walls can increase your home’s value by 108% to 117% of the project’s cost, meaning that this is one of the few ways to improve your home and fully recoup your costs.

#5 Smart Home Technologies

Depending on your age, smart home technology may not even be on your radar as a home improvement. But the truth is that young adults and Millennials are looking for smart tech in their homes, and if you already have it installed, that’s a big selling point.

Smart thermostats are popular and easy to install, so you might start with that. Voice-assistant-controlled lighting and appliances can also be a great feature. However, you don’t want to spend too much on smart home upgrades because the return on investment isn’t as high as other projects.

For specific demographics, smart home features are a selling point, but it hasn’t spread beyond Millennials yet. If you install a few less expensive items, you might find the sweet spot between attracting buyers and keeping your investment reasonable.

Plus, you might find that you enjoy having a smart home more than you thought you would!

Two Projects to Avoid

What kinds of improvements and projects do very little to improve your home? Here are a few to be aware of. Of course, if you want to do these for your personal enjoyment, go for it! Just realize there won’t be much of an increase in your home’s value.

Luxury upgrades can be a lot of fun to enjoy, but you aren’t likely to recoup much of your costs. People like having things like marble bathroom floors, but not enough to pay a lot of extra money for them. Plus, if you have too many, you’ll end up having the most expensive home in your neighborhood, which can mean losing out on potential buyers.

Complex landscaping can be beautiful to look at, and maintaining them might be your passion. However, a lot of people aren’t going to share that passion. Many buyers will see high-end landscaping and water features as challenging to keep up with and may even pay less as a result.

Increase Your Home’s Value With These Projects

Increasing your home’s value can be challenging. It’s tempting to dive deep into high-end renovations and expect to recover the entire cost through a higher home selling price. Unfortunately, that doesn’t usually happen.

Instead, focus on projects that will make the biggest impact on a home buyer — or on improvements that make a big difference in how you enjoy your home.

Are you ready to buy or sell? I’m here to help — contact me today!