Your home is more than just a place to live—it’s an investment. Putting money into it now will hopefully result in a higher selling price and more cash in your pocket on settlement day. While some buyers don't mind purchasing a fixer-upper, many are drawn to houses that are move-in ready. And wouldn’t it be nice to enjoy those upgrades yourself in the meantime?
Here are indoor and outdoor renovations that could increase your home's value:
Room to Grow
Often, buyers are house hunting because they want more space. Maybe they need an office to work remotely, a basement to entertain people or an extra bedroom for their family. Look at your home's total square footage. Is there undeveloped space either inside or outside that you could improve?
Inside, consider finishing your basement, taking down walls to open your floor plan or enclosing an area to create an office or nursery. If you are tight on space, an addition such as an extra bedroom could be a profitable project.
Outside, it’s all about curb appeal and functional living space. Buyers want an exterior that is inviting and low maintenance. Is your driveway, porch and entryway in good condition? Maybe the deck or patio could use an upgrade, or this could be the perfect time to finally build that outdoor area.
Essential Updates
Outdated kitchens and bathrooms can deter people from buying a house because they view them as expensive projects. Start by considering the size and layout of these rooms, as well as the number of bathrooms in your home.
The kitchen is what brings people together as they gather with family and friends around food. Altering the layout could make it more welcoming and expand options for adding an island or breakfast nook. Old cabinets, worn appliances and dated flooring are also renovations to consider.
Bathrooms are another key selling point. Giving them a refreshed look by replacing the tub or shower, vanity and flooring can make a big impact. Simple changes like new fixtures and paint can go a long way. If your home has a limited number of bathrooms or cramped layouts, consider adding a bathroom in the master bedroom, expanding an existing one or installing a half-bath on the main floor.
Smart Swaps
Upgrading to energy-efficient windows is a smart move that can pay off in more ways than you might expect. They help cut down on heating and cooling costs by keeping your home better insulated, and they give your space a fresh, modern look that really boosts curb appeal. Plus, many newer windows come with perks like soundproofing, UV protection and stronger locks.
Don’t forget about your front door! Swapping it out for a new one is a great way to give your home a facelift. A modern, secure door not only looks incredible but also improves energy efficiency and often comes with enhanced security features, increasing the safety and overall value of your house.
Funding Your Renovations
When you choose the renovation projects you would like to pursue, do not let costs deter you. With every mortgage payment, you build equity in your home, and you can use that equity to pay for improvements.
Have questions? As a member, you have access to a personal concierge—your “go-to” for help setting and achieving your financial goals. It's their job to help you navigate the details of spending, saving and planning for the future. Best of all, they are here whenever you need them.
