Design & Remodel to Increase Home Value

Homeowners contemplate remodeling projects primarily for aesthetic and functionality reasons. Yet there's no denying that some changes increase home value more than others. Even if you don't have plans to sell in the near future, it's financially wise to consider return on investment (ROI) when making renovation decisions.

There are various sources of information on this topic, but I have found Zillow to be a credible authority on real estate. They have a team of economists, data analysts, applied scientists, and engineers who produce extensive housing data and research. One of the seller's guides on their website summarizes the best improvements to increase value. Zillow's article includes seventeen projects which range from $300 (if you DIY) to $30,000. For my list below I combined Zillow's input with the latest, in-depth information from Remodeling Magazine's 2023 Cost vs Value Report.

1. HVAC Conversion (electrification)

2. Garage Door Replacement

3. Manufactured Stone Veneer

4. Entry Door Replacement

5. Siding Replacement (vinyl)

6. Siding Replacement (fiber cement)

7. Minor Kitchen Remodel

8. Window Replacement

9. Bathroom Remodel (midrange)

10. Window Replacement (wood)

* Deck Addition (wood) didn't make the top ten in the 2023 report, but it still retrieved a 50.2% ROI.

11. New Interior Paint

12. Landscaping

13. Exterior Paint

14. Smart Home Technology

15. New Lighting

16. Small Bathroom Updates (recaulk, reglaze tub. new faucet, new mirror)

17. Flooring

While planning to increase your home value, priority should be given to damaged or worn areas. If your roof is near the end of its life, your windows are cracked, or your fence is falling, they require your attention first. Even a lengthy "Honey Do" list of seemingly minor projects may cause potential buyers to think your home isn't well maintained and therefore has bigger problems under the surface. A realtor friend once told us that there shouldn't be anything that requires an apology during a walk-through!

Again, if you don't plan on selling your house anytime soon, these are just some suggestions to keep in the back of your mind. Your house is a big investment, but it's also your home. Renovate to meet your family's needs while providing a beautiful and comfortable haven. Creating a space that makes people want to stay awhile probably has the highest ROI.

As always, we're available to help plan and execute your next project. Love your home again!