If you’ve considered selling your home in 2024, you may be tempted to complete a lot of costly updates in hopes of increasing your home’s value and appeal. We’ve rounded up 16 improvements that will do just that.
Avoiding Common Pitfalls
It can be easy to fall into traps as a homeowner when everyone around you gives advice on how to increase your home’s worth.
Finding the right improvements to make is tricky because you don’t want to spend more money than you’ll get out of the sale.
Getting Buyers on Board
With these 16 updates, you can add value and increase interest in your home, making it an easy pitch to potential buyers.
1. Increase Square Footage
The best way to increase your home’s value is by adding square footage. This doesn’t necessarily have to mean building a huge addition to the home, either.
For home appraisers, what matters is livable space, which means areas of the home that are finished and have heating and cooling.
Finishing your basement or attic space can be a great way to increase your home’s livable space and, subsequently, its value.
2. Focus on Curb Appeal
The outside of your home is the first thing potential buyers see, and it’s important to make a first impression.
Clean up your landscaping, and consider adding shutters or painting your front door for a clean, refreshed look.
3. Replace Dingy Flooring
Carpet is out, and hardwoods are in. Updating your floors can give your home a much-needed facelift and even get rid of years of stains and set-in smells.
Bamboo flooring is an affordable, eco-friendly option that can make a big difference in a home’s look.
4. Upgrade Your Appliances
If you can swing it, upgrading your appliances to modern, sleek machines will attract buyers who are going for an updated aesthetic.
Energy-efficient models are all the rage and will save you (and your buyers) money in the long run.
5. Update the HVAC
It’s probably been a while since your HVAC was replaced or even serviced. Poorly maintained equipment can lead to costly repairs and breakdowns at the worst possible times.
Don’t wait for an emergency to make sure your HVAC is up to the task.
6. Designate an Office Space
With the rise of remote work, more people are looking for a comfortable, designated office space to spend their workdays.
You don’t need to build a costly addition; consider renovating a large closet or extra room to make the space. Just make sure there are plenty of outlets and a place for a wired internet connection.
7. Open Your Floor Plan
Open designs are still high on many buyers’ priority lists, but it’s okay if your home doesn’t have one. You can make it more open and encourage natural light by taking down walls between common rooms.
Don’t do this without checking with experts first; you don’t want to accidentally bring the roof down by knocking down a load-bearing wall.
8. Update the Garage
Storage shelves, dog-washing sinks, and garage doors that can be controlled with an app are great ways to update your garage without spending a fortune.
These small upgrades can make your house feel more modern and family-friendly.
9. Add a Swimming Pool
Outdoor space is important for families, and a swimming pool offers a great central location for relaxation and fun.
Pools and hot tubs tend to add value to a home that more than justifies the investment, so they’re a great way to spruce up your living space.
10. Remodel the Kitchen
Outdated kitchens don’t get much attention, but shiny new ones with granite countertops and modern cabinets do.
You don’t have to tear out the whole kitchen and start from scratch – consider throwing a coat of paint on the cabinets and replacing the fixtures for a low-cost update.
11. When In Doubt, Choose the Eco-Friendly Option
As the climate change crisis impacts more of the country, homebuyers are looking to live more sustainably.
Eco-friendly plumbing, solar panels, and lighting can give your home a nice update that saves money (and the planet).
12. Put In Storage Spaces
Americans love stuff. They also need a place to put all of their things, and no one wants to rent a storage unit if they don’t have to.
Adding closet organization systems, built-in shelving, and plenty of cabinet space will attract buyers and add value, especially to a smaller home.
13. Get Rid of Your Old Water Heater
Tankless water heaters are more efficient and take up significantly less space. They’re also less of an eyesore than traditional models.
These water heaters don’t have a reservoir, and instead they just heat the water you’re going to use. They’re a staple for many new homebuyers.
14. Throw On a Coat of Paint
A paint job is a relatively inexpensive way to update your home without structural changes.
Dark neutrals are in, so you could consider painting the outside of your home navy blue or even a dramatic black to attract new buyers.
15. Update the Bathroom
Not only will a remodeled bathroom look nicer, it’ll be cleaner, too.
Buyers love the idea of a brand new bathroom for visual and hygiene purposes, and since bathrooms are small compared to the rest of the home, they can be completely remodeled cheaper than any other room.
16. Say Goodbye to Dated Features
If your home has popcorn ceilings, shag carpets, a white kitchen, or tile countertops, it may be a good idea to ditch those in favor of more modern trends.
Warm, neutral colors, hard floors, and granite countertops are a great place to start.
Time for Profit
Once your home has been updated and you’re ready to place it on the market, you’re sure to garner tons of interest and fetch a higher price than before.
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The content of this article is for informational purposes only and does not constitute or replace professional financial advice.