9 Renovation Projects To Increase Your Home's Value

Whether you’re planning on living in your home or getting ready to put it on the market, renovations can increase the value of your home. Not all renovations are created equal, however most of the time you should be able to recoup a percentage of what you spent when you decide to sell. Here are a few suggestions for renovations that may also increase your home’s value:

1. Make Exterior Improvements

Spruce up your home’s exterior and give it a bright new look. Upgrading your garage door, replacing worn siding, repainting trim, repairing driveway and walkway cracks, as well as power washing your home’s exterior walls and windows can significantly boost curb appeal.

2. Refresh Interior Paint

A fresh light and neutral coat of paint is one of the most cost-effective home improvements. Newly painted rooms provide a clean and updated look while adding value to your home.

3. Replace Your Front Door

Your front door is one of the first things people see. Replacing your existing door with a steel one can change the look and feel of your home, but also better protect your home against fires and potential break-ins.

4. Install New Flooring

Remove dated carpeting and consider refinishing or installing hardwood floors. This will not only improve your living space, but also deliver significant returns on investment if properly maintained.

5. Add a Deck, Patio or Porch

Expand your living space to the outdoors with a new deck, patio or porch. Decorate your new outdoor living space with decorative planters, chairs, lighting, and maybe even a pergola or gas fire pit.

6. Replace Old Windows

If you can feel a draft, notice condensation or even frost on your windows swap out your old windows with more efficient models. Increase your comfort level and home’s value while decreasing your heating and cooling costs.

7. Convert Your Attic or Basement Space

Depending on your home’s layout, your Attic or Basement could be converted into additional living space. Turn your attic into a bedroom or a basement into a den. Although these renovations are more costly, as they may require walls, insulation wiring, etc. they will add significant value to your home if built to code.

8. Update Kitchen Appliances

The kitchen is the heart of every home, plus it gets the greatest return when updated strategically. Upgrade your current kitchen with brand new energy-efficient stainless steel appliances.

9. Refresh Your Bathroom

Give your bathroom a quick style refresh by upgrading lighting and fixtures, install a tile back splash, re-grout your shower, fix poor drainage and leaky faucets.

Considering a large home improvement project? Find out how a home equity line of credit can help turn your plans into a reality.