Real estate is an asset that needs to be actively managed, as homeowners will not be able to command top dollar for their properties come resale time without keeping current with the latest trends in home renovation.
As confirmation, the boom in DIY YouTube channels and popular programming on HGTV has seen the home improvement industry soar in recent years, with a record number of homeowners working on some kind of renovation in 2020.
Still, before you put on your hard hat and safety goggles (or hire the professionals to do it for you), remember that not all remodeling projects are created equal, so you will want to carefully consider your renovations if you are looking to maximize your return on investment.
Give Your Kitchen a Facelift with Quartz Countertops
Ask most realtors, and they will tell you that kitchens sell houses, especially to those families with children who are likely to have frequent guests popping by after school to hang out and snack on leftovers.
With this in mind, you may be quick to jump into a full-scale kitchen remodel to add value to your home. Kitchen remodels are fun, as they can increase space and functionality to your home, creating new possibilities for you to entertain friends and enjoy your property.
However, you need to be careful during your kitchen remodel in order to maximize the bang for your buck. There is actually such a thing as “too much kitchen,” so if the remodel that you have in mind is going to cost a significant percentage of the home’s total appraisal value, then you will likely be left feeling underwhelmed with how little it increases the home’s price.
One kitchen renovation that should be a no-brainer, though, is to replace your dated countertops with nonporous quartz surfaces. No matter the size or scheme of your kitchen, there are quartz countertop colors that will fit nicely into any layout, creating a striking first impression for buyers and providing the assurance that future maintenance and replacement costs will be kept to a minimum.
Create Features That Are Friendly to Aging in Place
Aging in place refers to the concept of growing old with your home, and with a record percentage of Americans set to reach retirement age in the coming years, the market for homes that cater to retirees is set to boom. Therefore, any home remodeling projects that keep the elderly in mind could be a boon for your home’s resale value.
The nice thing about aging in place projects is that most are not overly expensive or time-consuming to undertake but can be exceptionally appealing in their ability to improve a home’s functionality. Some simple aging in place ideas include:
- Adding a fold-out seat or bench to the shower
- Installing home handrails to the kitchen and bathroom to assist in crouching and rising
- Using motion-detected or remote control lights in the bedroom
Make the Home More Eco-Friendly
If you have been paying any attention to news headlines in recent years, you know that climate change is a major hot-button issue in contemporary society. As climate change becomes more of a concern, citizens are increasingly stepping forward to do their part to reduce humanity’s carbon footprint, with many customers willing to pay a premium for “green” products and services.
As such, your home will likely see a significant increase in value if it contains features that make it environmentally friendly, as enlightened buyers will want to live in a home that is part of the solution to one of society’s significant issues. Some creative remodeling projects to make your home more eco-friendly include:
- Installation of solar panels on your home’s roof or in the backyard
- Large replacement windows to allow the flow of natural light
- Exchanging carpet for hard surfaces that do not require electricity to clean
Matt Lee is the owner of the Innovative Building Materials blog and a content writer for the building materials industry. He is focused on helping fellow homeowners, contractors, and architects discover materials and methods of construction that save money, improve energy efficiency, and increase property value.