Thinking of renovating but don’t want to waste money?
We’ve all been there. You want to make home improvements that will boost your property value and sell your house fast but who knows what actually matters to buyers?
Truth is.
Not every home improvement idea was created equal. Certain home improvement projects can nearly double your money back while others… well not so much.
Luckily…
You can find projects that actually add value. This article covers the ones that matter most and explains exactly why they increase property value. No nonsense.
TLDR- Here’s What You’ll Learn
- Why Some Projects Add Value & Others Don’t
- Electrical Updates Buyers Will Love
- Exterior Home Projects That Add Value
- Indoor Home Improvement Projects
Why Some Projects Add Value & Others Don’t
Let’s get the big question out of the way:
Why do some projects increase property value and others don’t?
It all comes down to this:
What buyers want.
Agents and experts agree that curb appeal and safety are at the top of every buyer’s list. While granite countertops and high-end appliances are nice, they don’t outweigh basics like a beautiful exterior and a safe home.
Electrical work is no different. By hiring the best electrician for the job you can ensure you add features that buyers want. Ask any local electrician services what upgrades increase home value and you’ll hear about some of these.
Old electrical wiring and outdated panels are huge red flags for buyers. They know immediately that there is a chance they will be taking on costly repairs or even safety issues in the future.
New electrical updates show homebuyers you’ve kept up with maintenance and your home is safe.
One source found that 54% of homebuyers stated that they would pay more for a house with an updated electrical panel and wiring. That’s a huge plus for sellers!
Electrical Updates Buyers Will Love
Believe it or not but most homeowners completely forget about electrical upgrades.
Big mistake.
You see most electrical upgrades are low-cost and offer some of the biggest benefits. They improve safety, offer homebuyers convenience, and can make your home more efficient.
Here are the electrical upgrades that add value to your home:
Upgraded Electrical Panel
Many older homes have 60 or even 100-amp electrical panels. These limited electrical services can’t keep up with today’s appliances and electronics. Homebuyers want 200-amp service which means your home can handle the electricity demands of today.
Smart Home Upgrades
Who doesn’t love the convenience of a smart home? You can upgrade your home with some nifty smart features that will wow any homebuyer. Smart thermostats, connected light switches and home automation packages are always a hit.
EV Chargers
Electric cars are no longer a thing of the future. Installing a hardwired Level 2 EV charger can increase your homes value. Buyers are loving these installs, especially when placed in the garage.
Outdoor Lighting
Yes, curb appeal has been thrown around a lot. But exterior lighting is one of the cheapest and easiest ways to make your home shine at night.
USB Outlets & Smart Switches
Who knew such small changes could make such a big difference? These small upgrades show homeowners you care about the details and offer them convenience they don’t get with older homes.
Tip: Remember to hire licensed electrician services when making these updates. Electrical work will always need proper permits and if done incorrectly could decrease your home’s value.
Exterior Home Projects That Add Value
If you’re looking for home improvement projects that offer the biggest bang for your buck….
Look outside.
Seriously, curb appeal is your friend. Improvements you can see add the biggest increase in property value. The latest Cost vs. Value Report showed that replacing your garage door can give you a whopping 194% ROI across the nation.
That’s almost twice your money back!
9 of the top 10 highest ROI projects of the past couple years have been exterior upgrades. Think about it… if your curb appeal makes the house awesome people will look inside. But if they hate what they see outside they won’t even bother.
Here are the exterior home improvement projects you should be considering:
Garage Door Replacement
Replacing your garage door is one of the best projects you can do for your home. Not only does it drastically improve your curb appeal but its one of the least expensive projects on the list.
Steel Entry Door Replacement
Similar story to garage doors. Front doors don’t cost too much to replace and can really help your homes curb appeal.
Manufactured Stone Veneer
Adding stone to the exterior of your home creates a crisp modern look that buyers will love.
Siding Replacement
Replace old worn out siding for a fresh new look that shows the home has been taken care of.
These projects all have one thing in common. They’re visible, affordable and create instant appeal.
Interior Home Improvement Projects
Interior home improvement projects can add value to your home…
If you do them right.
Kind of a shocker but major kitchen remodels rarely pay for themselves. Instead of gutting your kitchen completely look for smaller upgrades that can be done for cheaper.
Small kitchen remodels
Small remodels can include things like refacing cabinets, updating hardware, changing countertops and even upgrading appliances. For a sleek, modern touch that also protects walls behind stovetops and sinks, many homeowners are turning to back-painted glass — a low-maintenance, high-impact material available in virtually any color that elevates the look of any kitchen instantly. These targeted upgrades can vastly improve your kitchen without breaking the bank or changing the layout.
Bathroom upgrades
Similar to kitchen upgrades freshening up your bathroom can go a long way. Update those fixtures, get a new vanity, toss in a fresh coat of paint.
Flooring upgrades
Speaking of fresh paint. Flooring is one of those things that if it looks worn out can age your entire home. Hardwood floors? Consider refinishing them. Carpet? Replace it with something nice.
Fresh Coat of Paint
Paint is powerful. Neutral colors throughout your home will make your spaces feel bigger and allow buyers to envision themselves there.
Here are a few things to avoid…
- Ultra personalized designs. Remember these need to appeal to the masses
- Pools. Unless you live in a hot area where pools are common this could actually decrease value. They’re also expensive to maintain.
- Garage conversions. Surprise your buyers and take away their garage. They will not be happy.
- Luxury finishings in normal neighborhoods. Keeping with the whole appeal to the masses idea. You don’t want one fancy kitchen in an average neighborhood.
Make Smart Home Improvement Choices
Home improvements are investments.
Treat them like one.
Before you begin any home project do your research. Ask yourself what buyers in your area would value most. Dig into local trends and speak with agents about whats selling in your area.
When it comes to electrical definitely get a licensed professional to do the work. Electrical inspectors will be pulling those panels and if its not up to code you could be lowering your homes value.
Combine small upgrades to maximize your renovation dollars.
New garage door + upgraded electrical panel + fresh exterior paint + some smart lighting = Million Dollar Home. Ok maybe not a million but you get the point.
Wrap it Up
Increasing value in your home doesn’t have to cost you an arm and a leg.
The projects that give you the best return all have one thing in common. They make your home safer, improve curb appeal, and show homebuyers you care about your home.
Remember:
- Think about buyers and not yourself.
- Not all home improvements were created equal.
- Boost curb appeal.
- Upgrade your electrical panel and wiring.
- Spruce up your home’s interior…but don’t go overboard.
Doing your research prior to making home improvements can save you hundreds or even thousands. Take pride in your home just like you would if it was someone else’s.
Now get improving!
