Upgrades that Pay Off

You love the size and location of your home, but some work needs to be completed for you to remain happy while living there. 

If you are going to spend money on renovations, it’s important to factor in how much value the projects will add to your home. 

Whether you plan to sell in the near future, a few years down the road, or haven’t thought of selling at all, continue reading to learn what interior projects are most likely to add value to the home for resale. 

INTERIOR RENOVATION PROJECTS

REALTOR rank of projects’ appeal to buyers (highest to lowest)

REALTOR rank of projects’ likely value to the home for resale (highest to lowest)

Complete Kitchen Renovation

Complete Kitchen Renovation

Kitchen Upgrade

Kitchen Upgrade

HVAC Replacement

HVAC Replacement

New Wood Flooring

New Master Suite / Owners’ Suite

Bathroom Renovation

Bathroom Renovation

Hardwood Flooring Refinish

Basement Conversion to Living Area

New Master Suite / Owners’ Suite

Add New Bathroom

Add New Bathroom

New Wood Flooring

Basement Conversion to Living Area

Hardwood Flooring Refinish

Attic Conversion to Living Area

Attic Conversion to Living Area

Insulation Upgrade

Insulation Upgrade

Closet Renovation

Closet Renovation

* From the 2019 Remodeling Impact Report

 

Kitchens and Bathrooms 

Kitchens top the list of remodeling projects, according to the 2019 Remodeling Impact Report by the National Association of Realtors. “Complete Kitchen Renovation” is the top remodeling project to complete if you want to appeal to buyers and add value to the resale, according to Realtors surveyed. 

We know that while a complete renovation in the kitchen is what homeowners dream about, it is also a costly project. With a kitchen upgrade ranking number two on both lists, you can choose to stay within budget by keeping some aspects of the kitchen and upgrading others. 

“Bathroom Renovation” and “Add a New Bathroom” are also remodeling projects that add value. If you have just one bathroom, consider where you can add another. For an outdated bathroom, determine what upgrades are needed to make it feel more luxurious or relaxing. 

 

Comfort and Sustainability

Aesthetics aren’t everything. Buyers are also interested in comfort and sustainability, which has a lot to do with the mechanics of the home. An HVAC Replacement or Insulation Upgrade can make a significant difference for buyers. These changes can help to make your home more comfortable and energy efficient, which adds value to the property.

 

Which home renovation project would you like to tackle in 2020?

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

WordPress.com.

Up ↑

%d bloggers like this: