Did you know that something as small as changing the color of your front door can have a massive impact on the value of your home? It sounds gimmicky, but it’s true! According to Zillow’s most recent Paint Color Analysis, homes with black or charcoal front doors fetched an impressive $6,200 more than expected, proving that something as simple as a fresh coat of paint can really go a long way.
This finding also proves that you don’t have to sink thousands into upgrades to get a big return. Basic things like sprucing up the landscape, adding quality cabinets and painting the walls in the main living space can translate to thousands of dollars added to your home’s sale price, not to mention the endless enjoyment of you and your family.
Here are the most worthwhile home renovations you can do to ensure that your home attracts the right buyers, sells for top-dollar and boosts your quality of life while you inhabit it.
1. Kitchen Renovation or Upgrade — According to the National Association of Realtors (NAR) Remodeling Impact Survey, kitchen renovations and upgrades are the top two most appealing home projects to buyers as well as the top two projects most likely to add value to a home. For most homeowners, the main reason to redo the kitchen is to upgrade worn-out surfaces and to refresh the aesthetic to create a nice change. To get the best return on investment with your kitchen reno, consider investing in ready-to-assemble (RTA) or wholesale designer cabinets for a massive impact with a relatively low upfront spend.
2. A Laundry Room — According to the National Association of Home Builders, 91 percent of home-buyers say they want a laundry room. The great news is, as long as you have the space, adding in a laundry room is relatively straightforward and affordable, costing you the price of a plumber and a few laundry room cabinets and accessories. For most buyers, the laundry room has extra appeal if it’s on the bedroom level — especially near or connected to the master bedroom — or on the main level of the home.
3. Upgraded Heating and Cooling — Comfort is of utmost importance to potential home-buyers, as is the cost and maintenance of utilities. That’s why HVAC upgrades come in just below kitchen upgrades on the NAR’s Remodeling Impact Report. Buyers are especially concerned about efficient heating and cooling, as they want their energy bills to be reasonable year-round. In old homes where there is no central HVAC, upgrades such as ductless heating and cooling can help boost buyer appeal without the high cost and time-consuming construction involved with adding ducts.
4. New Flooring — It probably doesn’t surprise you to learn that brand-new flooring — especially hardwood flooring — consistently ranks at the top of the list of things shoppers request during the home-buying process. What’s more, fresh new floors are one of the things that greatly adds to your quality of life and enjoyment as the current owner. Hardwood can add beauty while also simplifying cleaning and maintenance and eliminating allergens and dust associated with rugs and carpeting.
5. A New Patio — Studies show that interest in concrete patios more than doubled after the onset of the COVID-19 pandemic, and it’s not hard to see why! Homeowners are spending more time at home and know that a roomy outdoor entertaining space is crucial to keeping a safe distance and preventing the spread of dangerous germs. Because of this, home-buyers’ interest in outdoor entertaining space is stronger than ever, proving that this is one home upgrade you’re going to want to consider if you plan to sell within the next year. Even if you don’t plan on listing your home, upgrading to a nice outdoor living space can help you save money by spending more time eating and entertaining at home.
6. A Bigger Garage — With Americans owning more and more stuff, multi-car garages bring massive appeal to potential buyers. And it’s not just about room for a fleet of vehicles. It’s also about providing plenty of storage space — cabinets, hooks, wall storage units, built-in toolboxes, etc. — for all the gear that tends to live in the garage or shed. Adding extra wall and floor space for landscaping tools and equipment, bikes, sports gear, camping gear and more can help ensure that you and future buyers have enough room for all their cargo.
7. Energy Efficient Upgrades—While not technically a renovation, swapping out your old, energy hogging appliances and fixtures for efficient alternatives is an amazing way to appeal to buyers without dropping a ton of cash on a big project. Upgrading to Energy Star-rated windows and home appliances — especially the dishwasher, washing machine and dryer — ensures buyers that energy consumption will be relatively low, which will help meet their budget and eco-friendly goals when home shopping.
8. Walk-In Pantry — If you’re not big on the idea of a full-blown kitchen remodel, at least consider giving your kitchen a pantry overhaul. In fact, a survey of potential home-buyers showed that 32 percent of buyers rate a walk-in pantry as a must-have, while 83 percent rate it as desirable. Ample shelving, roll-out drawers and in-door storage for things like spices and oils are popular options for homeowners in search of well-appointed pantries.
As you can see, there are a few key things today’s buyers and homeowners desire, and it often comes down to energy efficiency and more space. While flashy things like fancy countertops and hardwood floors remain broadly popular, they’re not the primary focus of today’s buyers. Eco-friendly appliances and extra space in the kitchen, garage and laundry room will translate to big bucks when you go to sell your property. The great news is that all of these enhancements will boost your quality of life while you’re still the primary resident!
Author Bio:
Natalie Wienert started The WC Supply Company with her husband, Scott, with the goal to deliver quality cabinets with personal service at great prices. She has managed all facets of The WC Supply Company, including sales, marketing, product development, customer service and vendor relationships. In her free time, Natalie enjoys home renovation projects and spending time with her family and friends.
