Home renovations can improve your lifestyle and functionality of the living space. As a bonus, some home improvements can add more value to your property should you plan to sell it in the future. Before you start renovating, having a solid understanding of what renovations yield the highest return for the money is key. You also have to take into account your budget and your renovation goals.
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Whether you plan to stay in your house for a long time or just a few years, it’s smart to know which home renovations add the most value, besides ensuring you attract more interest on your property. Here are five home renovation tips that can deliver the highest return on investment (ROI).
1. Update your kitchen
Hands down, one of the biggest returns on investment comes from a kitchen remodel. Many homeowners consider the kitchen to be the heart of the home, and because of this, updating your kitchen area usually pays off when you are planning to resell your property in the future.
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To create a modern-looking and functional kitchen, consider replacing old or current appliances with energy-efficient models as they are not only good for the environment, but they will help you to conserve electricity. Plus, buyers often look for ways to save money when shopping for a new home.
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You can also look into repainting your kitchen walls, installing kitchen backsplash and custom cabinets or replacing your kitchen countertops with stone surfaces (marble or granite) as it helps to further increase your chances of selling your home at a higher price.
2. Upgrade your bathrooms
A bathroom makeover will certainly increase the value of your property. Even if you can't afford a full bathroom renovation, small updates such as replacing an outdated vanity and showerheads, fixing old plumbing or lighting fixtures can add big value to your home and increase a home’s sale appeal. If you have a bigger budget, you can also consider placing old floor tiles to give your bathroom a refreshed, modern look.
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3. Invest in built-in furniture
To maximise your home's resale value, consider upgrading your home's storage with built-in cabinets or shelf units. It will add to that extra value every home buyer is looking out for as compared to furnishing your home with bulky furniture pieces that take up a lot of space and will only make your home look and feel cramped.
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4. Do a basic home maintenance
Basic home maintenance can also add value to your home. To start, walk around your home and make a list of all the little things that are broken or need to be repaired. Fix the leaking roof, repaint stained walls and get rid of any mould or termites that you find. These types of basic home maintenance can keep your home from deteriorating over time and it can help to remove some of the potential fear that comes with buying a home.
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5. Visually expand your space
The size of your home can dramatically affect the value of your home, but if expanding your square footage is impossible, homeowners can make their home feel more spacious by replacing heavy curtains and draperies with vertical blinds or shutters. This will allow more natural light to flood into the space making your home feel larger and more open.
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A well-lit room also shows that you have nothing to hide, so should you decide to sell, prospective buyers will feel at ease when touring your home. You can also install more recessed lights to a dim kitchen or hallway or to brighten up a formal dining or living room with elegant sconces. This will make your home feel warmer and more welcoming to homebuyers, besides increasing your property value.
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Get professional advice from our recommended interior designers!
If you’re thinking of getting professional help to renovate your home without breaking the bank, Qanvast can be just the right choice for you! Qanvast gives you access to a catalogue of interior designers for any budget and style. Request for a free quote here and we will recommend you up to four interior designers near you.
All recommendations made by Qanvast will be protected under the Qanvast Guarantee scheme that covers 50% of your contract value, up to RM50,000, in the case that the recommended interior firm becomes insolvent.