Top Home Renovations Proven to Increase Value

Top Home Renovations Proven to Increase Value

  • Maureen Lathrop
  • 04/5/23

When it comes to owning a home, it's only natural to want to increase its value over time. Whether you're planning to sell in the near future or just want to boost your home's equity, there are many renovation projects out there, but some bring a bigger bang for your buck.

So whether you're a seasoned renovator or a first-time homeowner looking to make some upgrades, read on to discover four of the best ways to boost your property value through home renovations.

1. Installing a kitchen backsplash

A budget-friendly way to add style and functionality to your kitchen is by installing a backsplash if your kitchen doesn’t have one. While the kitchen may contain many expensive items, such as appliances and countertops, a backsplash doesn't have to be one of them. It can be a quick and easy weekend DIY project that can significantly enhance the overall look and feel of your kitchen.

The installation can take just a weekend, with the tile placement on Saturday and finishing grouting and sealing on Sunday. Once you're done, you will be so glad you took the time to make this update.

2. Painting brings big returns

Painting is one of the most cost-effective ways to increase the value of your home. A fresh coat of paint can instantly update and transform the entire interior of your home, making it look cleaner, brighter, and more modern. Not only does it improve the aesthetic appeal of your home, but it can also help protect your walls from wear and tear and even improve indoor air quality by sealing in any harmful particles.

When considering painting your home, it's essential to choose the right color that will complement the existing decor and architecture of your space. Neutral colors such as gray and beige are popular choices that can create a versatile backdrop for any design style. They allow for pops of color in furniture and accessories, making it easy to change up your decor over time without repainting the walls.

3. Switch out lighting

Updating your lighting is one of the most effective ways to improve your home's look and feel while increasing its value. Old or outdated light fixtures can make your home feel dark and drab, while modern and energy-efficient lighting can create a warm and inviting atmosphere. Here are some ways you can update your lighting to increase your home's value:
  • Add Dimmer Switches: Dimmer switches are an inexpensive and easy way to adjust the lighting in a room to create a more relaxing and comfortable atmosphere. They also save energy and can extend the life of your light bulbs.
  • Install LED Lights: LED lights are energy-efficient and can save you money on your electricity bill. They also last longer than traditional incandescent bulbs and come in various colors and brightness levels to suit your needs.
  • Consider Task Lighting: Task lighting is designed to provide specific lighting for certain activities, such as reading or cooking. It can improve the functionality of a space while also adding a modern and stylish touch.
  • Update Light Fixtures: Replacing old light fixtures with modern and stylish options can make a big impact on the overall look of your home. Consider statement fixtures, such as a chandelier or pendant lights, to add personality and style to your space.
  • Install Under Cabinet Lighting: Under cabinet lighting is a great way to add some extra illumination to your kitchen or bathroom. It can highlight your countertops and create a warm and inviting atmosphere.

4. Improve curb appeal with outdoor features & landscaping

If you are looking to sell, make sure your landscaping and outdoor spaces are clean and tidy. Property values can decrease by up to 30% due to poor landscaping alone.

Investing in a well-manicured lawn, trimmed bushes, and colorful flowers is not only cost-beneficial but can make your home stand out from neighboring properties in a competitive market. It can also make your home feel more welcoming and attractive to potential buyers.

Low-maintenance landscaping, such as native plants or drought-resistant plants, can be attractive to potential buyers who want a beautiful yard without much work.

Keep in mind outdoor living spaces are popular. Think of how to incorporate an additional living area with your landscaping, such as patios, decks, and fire pits. These features can enhance the overall appeal of your home.

Maximize your home value before you sell

As homeowners seek to upgrade their living spaces without incurring higher interest rates, home renovations are expected to become increasingly important. 38% of top real estate agents anticipate that homeowners will utilize their home equity to finance home renovations in 2023.

However, not all homeowners who undertake renovations will choose to stay in place. The survey also revealed that 34% of agents predict that more homeowners will opt to sell and cash in on their renovated properties in case prices decrease in 2023.

Selling in Summit County

Now is a great time to sell in Summit County. With a low inventory of Breckenridge condos for sale and Keystone, CO, real estate, you can expect a quick sale at a strong price with the right renovations.

To maximize the value of your home and attract potential buyers, it's essential to work with a seasoned real estate professional who can guide you in choosing the right home renovation projects. Maureen Lathrop and Joe Alvine are experts in Breckenridge condos for sale and Keystone, CO real estate and can provide valuable insights on how to boost your property's value through well-planned and strategic renovations.

With Maureen and Joe's help, you can make informed decisions that will pay off in the long run and draw the right buyers when you're ready to sell. Whether you're looking to sell your Breckenridge condo or Keystone home, contact Colorado Mountain Living today and discover how their expertise can benefit you. Breckenridge condos for sale and Keystone, CO, real estate are waiting for you to explore!

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