If you’re looking to invest in your home and raise its value, consider tackling some key renovation projects. Updates like new appliances or a new bathtub can be costly, but they’re also potential selling points down the road. Here are five home renovation projects that can improve your quality of life and may even increase your home’s value.
Financing your home renovation
Before moving forward with your renovation, it’s important to decide how you will finance it. There are multiple options available. If you have the money to pay for everything upfront, it may be a good idea to use some of your savings rather than borrowing to cover the costs. If you have investments, you may want to consider tapping into them to pay for the renovations.
If you don’t have the cash on hand to finance the project, consider taking out a home equity loan. This can give you the funds you need to make significant renovations. Another option is to use a credit card with a low interest rate. This can be a good choice if you’re able to pay off the balance quickly.
1. Install better lighting
Better lighting can make your home feel more inviting and may raise its value. You can install new fixtures, add solar lights, or even just upgrade your light bulbs. Consider adding dimmer switches so you can create the perfect ambiance for any occasion. Not only will this make your home more enjoyable to live in, it could also make it more appealing to buyers down the road.
2. Upgrade your appliances
If your appliances are older or outdated, consider replacing them with newer models. This is a big selling point for potential buyers, and it can also make your life easier. Newer appliances are often more energy-efficient, which can save you money on your utility bills.
3. Renovate your bathroom
A bathroom renovation can be a big project, but it can also be a great way to add value to your home. If you’re not looking to do a complete overhaul, there are still plenty of ways to update your bathroom. You can install new fixtures, paint the walls, or replace the tiles. Something as simple as a refinished tub can give your bathroom an updated look and raise your home’s value.
4. Update your kitchen
A kitchen remodel is one of the most popular home renovations because it can have such a big impact on your home’s value. It can also be one of the most expensive home improvements and can involve anything from new appliances and fixtures to a complete overhaul.
5. Paint your home–inside and outside
A fresh coat of exterior paint can do wonders for your home’s value. It can make it look more modern and inviting, and it’s a relatively inexpensive renovation to do.
New paint can also refresh a home’s interior. It can brighten up a space and make it feel more open. When choosing paint colors, try to stick with neutral tones that will appeal to a broad range of people. You can always add pops of color with art, throw pillows, or other accessories.
Choosing what to renovate
These are just a few of the many renovations you can do to raise your home’s value. When you’re planning a renovation, think about what changes would add the most value to your home, what will bring you joy (especially if you’re planning to stay in the home for a while), and make the best decisions for your home and your budget.