If you’re passionate about home improvement, or if you just take pride in where you live, you’re constantly looking for the next DIY project to improve your home. But what are the best projects to tackle to simultaneously improve your house’s functionality while boosting its potential value?
Home Upgrade Value
There are three main variables you’ll need to consider when deciding what types of house upgrades to make:
- Costs (both time and money). First, you’ll need to think about the costs of each home renovation project in terms of both time and money. If you’re working with contractors, you’ll likely receive a straightforward quote that you can use as a reliable basis for estimation. Otherwise, you’ll need to ballpark the costs yourself (and be conservative). Also, keep in mind that if you’re tackling this project on your own, you should think about your time investment as an additional cost.
- Home value. Second, you’ll need to think about how this upgrade is going to influence your home value. It’s almost impossible to find home upgrades that return as much as they initially cost, but you can recoup most of your costs in many cases. For example, it might cost you $8,000 to replace the windows in your home, but your home value may increase by $5,000 or $6,000 – not enough to completely cover the project, but enough to make it worth considering.
- Subjective value. Third, you’ll need to consider other ways that this home upgrade can be valuable to you. For example, if you renovate the kitchen, it may become more functional and more beautiful, allowing you to enjoy your house more than you did before. And some upgrades have measurable, secondary sources of value; for example, better insulating your home could reduce your utility bills.
The Best Ideas to Upgrade Your House
With those variables in mind, these are some of the best upgrades to make to your house:
- Install an outdoor kitchen. Consider installing an outdoor kitchen. Your existing kitchen might be perfectly fine as is, but when you add an outdoor kitchen, you open up a world of possibility. You can entertain and host more parties outdoors. You can cook outside on days with nice weather and enjoy the fresh air. You can even enjoy the benefits of easy cleanup anytime you cook outside. Best of all, installing an outdoor kitchen increases your home value significantly, so when it’s time to sell, you can make back much of what you spent to install it.
- Remodel your kitchen. One of the most common home renovations is remodeling the kitchen. The kitchen is one of the most heavily trafficked and most important rooms of the house, so it makes sense why this area gets so much attention. Whether you do a total top-down makeover or just replace a handful of appliances, this upgrade can boost the value of your home by tens of thousands of dollars in some cases.
- Remodel your bathroom. Similarly, you might consider remodeling your bathroom. Replacing the toilet, adding a new shower, replacing the worn tile, and giving the room a superficial makeover can instantly make it more inviting and more valuable to your home overall.
- Replace the windows. Replacing the windows of your house is beneficial in many ways. If you have old windows, it might be hard for you to open and close them. Even worse, they may have air leaks that make it nearly impossible for you to heat or cool your home efficiently. Depending on the current condition of your home, replacing your old windows with new ones could be a project that pays for itself in a matter of years – on top of increasing your home value.
- Finish your basement or attic. Your basement or attic might currently be an unused and unattractive room of the house. So what if you finished it? Adding better flooring, insulating the walls, and applying a fresh coat of paint could be all it takes to convert this dusty storage space into a beautiful living space.
- Add a parking space. Is there ample parking at your property? Even if you have a garage and a roomy driveway, adding a parking space can be logistically valuable. You can fit more people and make the house more attractive to potential buyers at the same time.
- Add a deck or patio. A deck, patio, or porch can add as much as $20,000 to the value of your home. And if you’re skilled with power tools, you might be able to build one yourself. Just be sure to get any permits required for the work before beginning.
- Invest in curb appeal. Finally, invest in the curb appeal of your home; there are many small projects that could be beneficial here. Replacing your siding, adding a fresh coat of paint to the exterior of your home, replacing the front door, and landscaping are just a few examples.
There are countless ways to upgrade your home, and if your primary goal is just making your home better for you subjectively, any upgrade is worth considering. But if you want to get the most value for your money and you want to make your house as beautiful and functional as possible, these are some of the best projects to pursue.