If you’re considering any type of home improvement, budget is probably one of your biggest concerns. To help you decide where to focus your efforts, here are the projects most likely to increase the value of your home:
- Kitchen/bath remodel: By far, kitchen and bathroom remodels are the two most valuable investments you can make. (Did you know an additional bathroom offers more than twice the return as a new bedroom?)
- New flooring: Refinishing your home’s hardwood floors or installing them from scratch can also boost your home’s resale value. If you’re putting in new wood floors, think about where they’re located — in rooms with high-traffic or humidity, you might want to consider manufactured wood, which can stand up well to those types of conditions.
- New window treatments: First impressions are everything. By installing high-quality window treatments in gathering areas, like kitchens and living rooms, you’re presenting your home in the very best possible light and increasing the value of your home.
- Wood deck or patio addition: Whether it’s a wood deck or a midrange backyard patio, the value is really dependent on the region. In parts of the country that have nicer weather year-round, it makes much more sense to add a new deck or patio.
- Paint (inside and out): When painting the interior of your home, concentrate on high-traffic areas like your kitchen and bathrooms. And if the exterior of your home has ever been painted in the past, you’ll need to repaint it before you sell.
As a rule, if your home is in good working order, focus on projects that will improve its appearance. But because resale values for specific upgrades can vary between regions and over time, make sure to do your research.