How to Increase Home Value with These 4 Home Improvement Projects
Posted December 27, 2022 by EnerBank USA
For homeowners looking to sell in the next few years, they need to know how to increase the value of their home. Knowing the home improvement projects that add value puts them ahead of their competition.
Not all home improvement projects are created equal, and some have a more significant return on investment (ROI) than others. Additionally, some remodeling upgrades help a home attract more buyers and ultimately sell faster, especially projects that improve curb appeal.
4 Home Improvements to Increase Home Value
Homeowners want renovations for many reasons. Some want to make their home more enjoyable and efficient, while others are preparing to sell. But while some home improvement projects can add value, others can reduce the sale price or buyer interest.
What will you tell the next homeowner who wants to know how to add value to their home? Here are the top home improvement projects that add the most value.
1. Kitchen Remodels
Kitchen remodels are a reliable go-to when it comes to home improvement projects. They offer high ROIs and help homeowners sell their homes more quickly. According to a Zillow report, up to 58% of buyers reported kitchen style as a significant factor in their home-buying decision.
Kitchen home improvement projects can be big or small. Small ways to increase home value on a kitchen remodel include replacing countertops, old light fixtures, faucets, and cabinet hardware. Alternatively, larger projects can transform a kitchen into a completely different style that provides a more open or modern-looking kitchen.
2. Bathroom Renovations
If you’re learning how to increase home value, bathroom renovations are an excellent way to go. While most renovations do not provide a 100% ROI, homeowners can expect to recoup as much as 70% of the value from this home improvement project.
Bathroom renovations can be as simple as replacing counter surfaces, painting, or improving practicality. Alternatively, your client may be interested in completely restructuring the layout or replacing a full tub or shower.
3. Increase Home Value by Boosting Curb Appeal
Some of the best home improvement projects that add the most value enhance the home’s curb appeal. Curb appeal impacts the first impression of guests and potential buyers alike, and there are many ways that it can be boosted.
Boosting curb appeal can be as simple as cleaning up a home’s siding, installing a new front door, or as complex as implementing a new and intricate walkway, replacing siding entirely, or changing the home’s color.
4. Basement Remodels
Have you ever thought about purchasing a home only to be turned off by an unfinished basement? While these remodels can be costly, they can substantially impact the home’s value and buyer attraction.
Basements are an easy way to increase the living space of a home. Additionally, larger basements may offer an opportunity to add a bathroom or spare room to the house.
Home Improvement Lending You Can Count On
In many cases, knowing what home improvement projects add the most value is half the battle. This provides a great opportunity to educate your customers.
Different homeowners have different financial strategies for funding a home improvement project, or they may have to wait until they obtain the necessary money. However, waiting on finances leaves room for second-guessing, seeking quotes from your competitors, or dismissing a project idea altogether. That’s where EnerBank USA comes in.
EnerBank makes it simple to provide your clients with specialized home improvement loans, which means bigger projects, better customer experiences, and higher closing rates. Find out how EnerBank can help grow your business by filling out the form on this page.