Remodeling Impact: Value over Trends

Maintaining your home is part of being a homeowner. 

In addition to yearly maintenance, renovations may be needed to keep your property looking and functioning its best. Though not necessarily required, here are some of the top reasons for renovating your home: 

  • Increase your comfort.
  • Fix a safety issue.
  • Upgrade certain aspects of the home.
  • Increase efficiency.
  • Add value. 

If your primary goal is to increase comfort or fix a safety issue, chances are you already know what needs to be done. This may include getting a new roof, upgrading the HVAC system, or removing mold from the basement.

As far as aesthetic upgrades, there are a lot more options. While it can be tempting to add in all the latest trends, you will want to consider if those trends will still be around a few years down the road. For example, a newly constructed walk-in closet may not provide as much value as renovating a bathroom. 

For those who want to ensure the upgrades will add value, whether selling now or in the future, keep reading for projects that most likely have appeal to buyers and will add value to the home, according to the 2019 Remodeling Impact Report by the National Association of Realtors.

INTERIOR 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

Kitchen

Kitchen upgrades rank the highest for both the appeal to buyers and the likely value to the home for resale. Complete kitchen renovation came in at number one on both lists, with a kitchen upgrade at number two. 

Complete kitchen renovations can be costly, so if that isn’t in your budget, consider what you can do. A paint job, new cabinetry, or installing an island may be all it takes to upgrade and add some value. 

HVAC

If your HVAC is inefficient or out of date, replacing it is appealing to buyers. People want to know they will be comfortable for years to come. 

Bathrooms

Though small in size, an updated bathroom can make a big difference to buyers! Both bathroom renovations and adding a new bathroom are on the list for interior projects. 

EXTERIOR 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)
New Roofing New Roofing
New Vinyl Windows New Vinyl Windows
New Vinyl Siding New Fiber-Cement Siding
New Garage Door New Wood Windows
New Fiber-Cement Siding New Vinyl Siding
New Wood Windows New Garage Door
New Fiberglass Front Door New Steel Front Door
New Steel Front Door New Fiberglass Front Door

* From the 2019 Remodeling Impact Report

Roofing

For exterior projects, new roofing was first on the like for rank of appeal to buyers and the likely value to the home for resale. 

Windows

Coming in second on both lists, new windows can add value to your home. New windows can add more natural light and provide better insulation against cold temperatures in the winter. 

Siding

Siding is part of your home’s curb appeal. Whether you decide to install fiber-cement or vinyl keep the exterior of your home looking it’s best with siding that can be easily maintained.

No matter what type of renovation you undergo, choose materials with longevity in mind. The biggest trend may be all over home renovation magazines now, but will they be desirable when you plan on selling your house? 

 

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