Your Home Renovation Guide: How to Increase Your Home Value

Your Home Renovation Guide: How to Increase Your Home Value

According to Harvard researchers, the COVID pandemic has caused a surge in home renovation spending.

In 2020, expenditures for home renovations and repairs in the United States reached about $420 billion, a 3% increase from the previous year.

Homeowners behind these projects have one thing in common: they all want to add value.

But the question is how to increase home appraisal value. There are a few ways homeowners can make their homes more valuable without going overboard with renovation spending, and we’ll explore them here.

Increase Square Footage

Adding another room to the house is one of the easiest ways how to increase home appraisal value.

This might seem counterintuitive, but it makes sense when you consider how appraisers determine a property’s worth. An extra bedroom or an office space adds real estate equity and will be counted as a so-called “finished area” in your home appraisal report.

To increase this number without expanding too much on renovation spending, homeowners can convert unused areas into living quarters. This can involve adding built-in closets or finishing off unfinished rooms with drywall and new paint jobs.

The same rule applies to basements that are rarely used. A finished basement offers more storage space and additional square footage, which boosts your home’s value immediately.

Add a Kitchen Island

Another way to increase home value involves re-configuring your kitchen layout.

A modern island is a perfect example of how homeowners can add needed space while increasing overall property value. Islands are generally expensive renovations, but homeowners can also lower costs by opting for less costly materials or DIYing the construction.

Kitchen islands are often seen as a valuable addition because they form a natural centerpiece in kitchens and give owners additional workspace. The trick is not only to add more countertops but useful storage options too – otherwise, your island will be an eye-sore.

Add a Fireplace

No way a “how to increase home appraisal value” list can exclude the tried-and-tested fireplace.

Buyers still value this traditional centerpiece of American homes. And it helps homeowners increase their property’s worth significantly without spending too much.

In most cases, a simple fireplace rebuild or renovation will do. Alternatively, some homeowners install a modern gas starter that does not require wood logs and gives the same feel as an old-time fireplace.

Whatever you do, make sure it is in line with the style of your home and doesn’t clash with any existing architectural elements.

Modernize the Bathroom

Ah, nothing like a bathroom remodel. This is probably one of the most common home renovations in America. And it can be done in many different ways to increase the home appraisal value.

A modern, spa-style bathroom is a great way to increase your home’s value.

The trick here is to invest in high-quality materials and fixtures that look good and function properly. You don’t want an elegant vanity with a leaky faucet or cheap toilet seats. You need everything up-to-date if you plan on selling the property within the next few months.

Another way is by modernizing the layout. Again, this may require some construction work but will pay off in the long run.

For example, consider building a glass shower enclosure instead of replacing old bathtubs. These changes increase property value and make it easier for buyers to picture themselves living there.

Check out this bathroom remodeling software to see how you can streamline your remodel process.

Improve Kitchen Lighting

A kitchen renovation is one of the best ways to increase home appraisal value.

As with bathrooms, any construction or home remodel work you do must improve the space rather than just adding square footage. Homeowners can do a kitchen makeover by improving lighting fixtures and installing modern pendant lights.

Kitchen renovations are often very costly — but some easy changes like these will increase your home resale price without breaking the bank. Plus, they offer an additional benefit: new light fixtures brighten up kitchens considerably, making them look bigger and cleaner at no extra cost.

Add a Pool

A pool is not always an option for homeowners. But if you have the budget and space, it’s an excellent way to increase home appraisal value. It doesn’t necessarily need to be large or fancy — just big enough so that buyers get excited about having one in their backyard.

However, you want to make sure the pool is in good condition and will increase your home appraisal value. This means investing in a solid structure and professional landscaping that complements it well.

This task is best left to the professionals if you know nothing about pools or landscaping.

Get Rid of the Dated Kitchen Cabinets

If you have dated kitchen cabinets in your home, they are likely taking away from its resale value. Replacing them with modern ones is a great way to increase home appraisal value.

As countertops and appliances change over time, so do cabinet styles. New homeowners will instantly notice if cabinets are outdated because it can make the kitchen look older than they are.

There’s no point in keeping outmoded cabinetry when a simple alteration will increase your home appraisal value.

One efficient way to clear dated kitchen cabinets is renting a 30-yard residential dumpster.

Painting the House

This may sound like a no-brainer, but it makes sense in some cases. It’s essential to do your research before deciding on the best color for painting your house. You want something that fits with both style and trends.

Additionally, keep in mind that not all paint colors increase property values equally. Some are considered neutral, while others have been proven to increase the resale price.

So even though this is one of the cheapest ways homeowners can increase their homes’ worth, make sure you choose wisely. You don’t want to waste money on an unpopular or outdated color choice.

How to Increase Home Appraisal Value

These are some of the best ways on how to increase home resale value. A lot depends on what kind of renovations you plan and which style suits your property best. However, there’s nothing wrong with going for an extreme makeover.

We hope this blog post has shown you how to increase home appraisal value. For more informative content, make sure to keep reading our articles.