A home remodeling project doesn’t just make your quality of life better; it also increases the value of your home. According to a recent survey, prospective buyers are willing to pay more for homes with certain upgrades and amenities. If you’ve been toying with the idea of doing some home renovations, here are the most desired updates that will add value to your home.
Bathroom remodels are among the most popular upgrades being done, with over half of homeowners surveyed saying they would consider doing one soon. One thing to keep in mind, though, is that the features attracting the highest bids from prospective buyers are ones that give a spa-like feel in the bathroom.
- Buyers are willing to pay 2.6% more for a bathroom with a freestanding bathtub.
- Buyers are willing to pay 3.6% more for “curbless” showers.
- Buyers are willing to pay 3.2% more for heated flooring.
- Buyers are willing to pay 3.2 % more for quartz countertops in either the bathroom or the kitchen.
Another popular room for home improvement projects is the kitchen. Aside from new tiles, new appliances, and updated backsplashes, buyers are willing to pay premium prices for kitchens with luxury features. A recent Zillow survey found that these specific luxury kitchen features were the most popular and earned the highest premiums above the home’s expected selling price.
- Smart appliances earn 3.0% premiums.
- Quartz countertops earn 3.2% premiums.
- Butcher blocks earn 2.7% premiums.
- Steam ovens earn 4.9% premiums.
- Pizza ovens earn 3.4% premiums.
Curb appeal is a crucial element to selling a home, and prospective buyers are willing to pay more for a home that has a stunning exterior. Surveyed buyers said the below outdoor updates are the most appealing, and that they’d be willing to pay more for a home with these updates.
- New exterior paint
- Modern landscaping
One sure way to add to your home’s value is to increase your square footage with a new addition. With remote work and school at an all-time high, extra living space is at the top of every homeowner’s list of home renovation wishes. Not only do homeowners long for more room to spread out, but buyers are looking for the same thing. Here are the most sought-after upgrades that create more living space in the home.
Adding to your home’s structure in the form of a second living room, a sunroom, or some other room to the first floor is a big home value-booster. Not only does it create more space, but the space is accessible on the ground level and is functional for entertaining and other uses.
Building a smaller secondary structure near the main house is something many homeowners dream of. An accessory dwelling could be a backyard cottage for an elderly parent, a guest house for visiting loved ones, or an apartment above the garage that can be used for rental income.
Finished basement or attic
Even if you’re not adding square footage to your home or building an additional accessory dwelling, there are renovations that create more living space out of your existing rooms. One popular example is finishing your basement or attic. These spaces tend to go unused when they’re not comfortable to live in, but when they’re remodeled and temperature-controlled, they can serve as a second living room, an additional bedroom, or even a home office.
Homeowners and prospective buyers have a lot in common when it comes to the most desired home renovations. If you’re thinking about selling your home, or even if you just want your house to be a bit more livable, choosing a home renovation project that increases your home’s value is the best option. Whether you update the bathroom, renovate the kitchen, upgrade your exterior, or add more living space, both you and your prospective buyers will love the new look.