There are a lot of renovations you can do that won’t actually increase the value of your home by a significant amount. Here are the most important improvements you should focus on to get the most return on your investment.
Kitchen
This is a big one most potential buyers are influenced by when considering purchasing your home. In terms of value, it is the most important factor. An out of date kitchen is an instant turnoff to most buyers who would hope to avoid the renovation process. You can easily (and affordably) modernize your kitchen by purchasing Ikea cabinetry as opposed to expensive custom cabinetry, or refacing your existing cabinets if they are still in good shape.
Bathroom
After the kitchen, the bathroom is the next most important factor in deciding the value of your home. While you should never give up bedroom space to create another bathroom, if you can build an extra bathroom into unused space in your home, you might see a dramatic spike in value (especially if you only had one bathroom to begin with).
Flooring
It isn’t news that hardwood floors can increase the value of your home quite a bit. If your home doesn’t already have hardwoods, investing in them may get you a good increase in the value of your home. If you already have hardwoods but they are in rough shape, refinishing them is a great affordable option since older hardwood is more in demand than new flooring. When it comes to the bathroom, tile is always the way to go. If you have the budget, consider heated flooring to really boost the wow factor.
Fixtures
If your budget won’t allow for a full kitchen or bathroom renovation, the cheaper option is to focus on replacing the fixtures. Old fixtures look dated, and replacing them will instantly modernize your home. Replace cabinet hardware, faucets, light fixtures and countertops for an instant increase in your home’s appeal. When it comes to lighting, pot lights are in demand, especially if your home is open concept.
