If you’re like most homeowners, your home is likely the biggest investment you’ve ever made. So naturally, you’d like to see that investment grow over time. That entails taking good care of your home, adding upgrades, more space, curb appeal and doing the necessary home maintenance so your home not only has curb appeal, but also remains attractive to potential buyers if you wish to sell it. However, while upgrades can boost your property value, not all renovations have an equal impact. Here are the best bang for your buck home renovations:
1. Convert your garage into living space
Most people have a garage, but many cram that space full of holiday ornaments and lawn tools so they can’t even use it to park a vehicle. Research shows that the garage is the most neglected space in the home, which is why you can save a lot of money by turning it into usable space. Since most garages are attached to your home and utilize the existing foundation, some simple remodeling can convert that space into a yoga studio, heated workshop, extra bedroom, or even an inlaw suite.
2. Update your plumbing
If you have outdated plumbing fixtures like an old bathtub, pipes or toilet, now is the time to upgrade and make the most out of this home renovation. If there’s one area of your home you can upgrade without making a huge dent in your construction budget, then it’s the plumbing. In fact, according to HGTV, homeowners can redeem 80% to 130% of their investment in a full or half bathroom renovation. Plus, renovating the bathroom increases the value of your home by up to 20%.
3. Add exterior curb appeal
If you want to give your guests a better first impression of your home, or put it on the market for sale, keep in mind that your home’s exterior (e.g., siding, porch, gardens, driveway, walkways, etc.) are the first thing anyone will see when they visit. So start by polishing the exterior and giving it a fresh coat of paint, a new door, a new porch handrail, some perennial flowers, small bushes, or herbs to set it apart. Studies show that curb appeal tends to help sell homes much faster.
4. Invest in a kitchen remodel
Your kitchen is where your family likely spends the majority of time—eating, drinking coffee, playing games, etc. A well-designed and user-friendly kitchen that’s equipped with modern fixtures and appliances is bound not only to make your life easier, but also make it that much more enjoyable as a communal gathering space. If you can’t update your entire kitchen, just focus on what matters most by adding a kitchen island, replace the countertops, upgrade the appliances, or modernize the cabinet paint and add a backsplash.
5. Finish the basement
A basement can be a great location for your home office, laundry room, workout room, teen bedroom, or game’s room. Depending on how much you have to spend, you can convert your basement into a recreation area or an office space, but the most practical and common way is to convert it into additional living or entertainment space in your house. A basement can also be turned into a rental unit for additional passive income.