The housing market is finally starting to loosen up a little in 2024. But if you’re looking to get the most value out of your home before putting it on the market, you might want to consider a remodel.
In a recent Home depot report they cover the top 10 ways of remodeling your home that will give you the best return on investment.
These remodels are not just for sellers; some will quickly increase your home’s value while others will give you a great return on the original renovation cost over time.
Here are all the spaces you should be looking at upgrading to give your house its most functional makeover ever.
#1 - Bathrooms
It is probably no surprise that the bathroom ranks number one on the remodel list for adding value to a home.
It’s easy to tell if a bathroom is outdated whether that’s because of the layout or just old fixtures.
- upgrading the vanity is an essential requirement
- bathroom sinks and showers.
- Storage is another major function that can add value (even if you’re just adding a few simple storage solutions to a small bathroom).
Don’t underestimate the power of new fixtures and paint, either.
These updates are quick and easy but will add a modern feel to your bathroom.
#2 - Carpeting
Updating the carpet before you move is a great way of increasing the value of your home especially if you’ve already moved your things out.
Although your carpet might not look outdated, it could still need replacing.
Even newer carpets might be showing signs of age. If your household floors are prone to spills, pet hair, and general wear and tear, you’re not alone; but it’s probably best to replace the carpet before moving out to avoid losing some of your home’s value.
It is recommended that if your carpet is more than ten years old, swap it out.
Updating to a more modern carpet style is always a good option; if your issue is that your carpet is uneven or lifting, you can have a professional secure your carpet without having to replace it entirely.
#3 - Cabinet Upgrades
Replacing home cabinets (especially in your kitchen) is a major part of many home remodels, with cabinet upgrades ranking high on the list for buyers and sellers alike.
Remodelers who are not planning on selling their home also turn to cabinet upgrades to freshen up their spaces; it’s a relatively easy and inexpensive upgrade that completely changes the feel of a room.
Warm, exposed wood and white cabinets are trending right now for the most modern, elegant feel that will match any kitchen aesthetic.
It is also suggested adding in a new backsplash while you are planning your cabinet remodel.
These extra upgrades are easy to complete together and will help your space feel more cohesive.
#4 - Countertops
Countertops are an integral part of any major kitchen or bathroom upgrade; if you’re planning on a bigger home renovation project, you should consider updating your countertops.
And yes, the big two countertops of choice are still granite and quartz this year. They are sturdy and stylish, making them the go-to choice for a practical and aesthetic kitchen. Generally, white countertops are still placed highest for the most desirable countertop colours.
Have a look at Lenaneo Design Studio’s remodelling projects.
#5 - Windows
Windows might not be on your home remodel checklist right now, after all, they’re not the first thing most people would think of when they think of home decorating. But if you are planning on selling, it is suggested that this update can return up to 70% of your investment.
And if you are sticking around for a while, you will save on energy costs. That’s because Lenaneo recommends swapping your double-hung windows with insulated simulated-divided-light windows in wood or vinyl.
The report says that this window upgrade will help save on energy costs and reduce carbon emissions since windows are often responsible for 25% of the average household’s electricity bill.
#6 - Fencing
Fencing is another easy upgrade you can give your backyard to boost your home’s value.
Updating old fencing to make sure it looks and feels secure is an important step before putting it on the market; this helps buyers feel that the backyard is more private and protected against potential wildlife and intruders.
Hedging can also be a natural privacy shield that will help buyers forget about your lack of fencing (unless all of your potential buyers have pets, that is).
#7 - Water Treatment
This is another fun home renovation item that not many people would put at the top of their to-do list, but it actually ranks at number seven in the report in terms of adding value to the home.
Although buyers probably won’t be tasting samples of your tap water while viewing your home, water treatment is a great selling point for you or your realtor to mention; it’s a treatment that shows your home is upgraded beyond just the visible aspects
With declining water quality in South Africa this renovation should move higher up your renovation list.
#8 - Solar Geysers
Planning to stick around for a while? the report says hybrid or solar heat pumps could save up to R3,000 over a decade just based on how much energy they save.
If you are selling, tankless water heaters will help your home sell for 4% more on average. That’s a huge bonus for sellers, buyers, and home remodelers alike.
#9 - HVAC System
If you’re remodeling and not planning on selling just yet, an HVAC is a remodel that will pay for itself over time according to the report.
The amount of energy it saves within five to 10 years will pay for the brand new HVAC system you purchased, says the report and if you continue keeping up with HVAC maintenance, it will only save you more energy (and money).
Don’t underestimate the power of a well-functioning HVAC, even if you’re planning on selling your home.
#10 - Garage Doors
Last on the top ten remodel list is updating your home’s garage doors. The report estimates that a garage door remodel will make 103% of its value back in a home sale.
If your garage door is visibly damaged, you should opt for a replacement to impress your buyers; the same goes for if your garage door is undamaged but looking outdated.
Whether it’s frosted glass or raised panels, there’s a variety of new options you can choose from. Frosted glass will give your garage doors a maximally modern feel; raised paneling on a garage door is another timeless yet modern addition to a garage door that can help boost its value.
Updated garage doors will give a lot back to your home value simply because they’re one of the first things a potential buyer will see when walking outside of your home; they also add a practical yet modern upgrade to your house.
Whether you are intending selling or staying put, Lenaneo Design Studio can assist you with most of these renovation suggestions above.
Contact us for your next renovation project.
Reference
Website – https://www.thespruce.com/home-depot-2024-renovation-report-8425812
Greetings! Very useful advice in this particular post!
It’s the little changes that make the largest
changes. Thanks for sharing!