What Do Home Improvements Do to Your House Value?

To renovate or not renovate? That's a critical question many people ask when looking to put their houses on the market.

As the Olympic Management team says, remodeling, renovating, and improving your home can be great ways to give it a makeover, add extra space, and make it more attractive to anyone who steps into your home. But does that add its resale value?

Well, that depends on what improvements you're working on.

Some home improvements can significantly add to your home value. Others aren't worth the expense and time. In this article, we'll dig deeper into what home improvements do to your home value and advice on which improvements are worth it.

Do Home Improvements Add Value?

The answer is a resounding Yes.

And the ROI can be higher than you'd expect. For instance, you can expect to recoup 62.7% to 81.6% of your investment on a kitchen remodel, according to the 2018 Remodeling Magazine's Annual Cost Vs. Value report.

However, as noted earlier, not every home improvement is worth your time and efforts. Some upgrades may add the luxury aspect but not much on the value side.

Home Improvements That Add Most Value

Without further ado, let's dive into home improvements that can boost your home's resale value.

1.Kitchen

People like to see modern styles and conveniences in the kitchen.

According to the Remodeling Magazine report, a remodeling cost of $21,198 can add a resale value of up to $17,193. Simple upgrades such as replacing your countertops and adding more cabinets should do the trick.

2.Garage Door

Garage door replacement practically pays for itself, according to statistics. Not only does it recoup 98.3% of the investment cost, but it also enhances curb appeal—making it easier to attract potential buyers and fetch an attractive price for your home.

3.Curb Appeal

Improving the curb appeal can help fetch a better price for your property. Think about the first impressions homebuyers get when they enter your home.

You could improve the curb appeal with stone veneer. When the manufactured stone (stone veneer) is installed correctly, sellers can expect an impressive ROI, recouping up to 95% of the project's cost. Boosting curb appeal could also include simple tasks like adding a new walkway or scrubbing your home's sidings.

If the idea of renovating or remodeling puts you off, you may want to consult a reputable property specialist who will buy the property in its current state. This way, you won't need to worry about repairs, remodeling, or renovation work and can secure a quick house sale.

4.Bathroom

A mid-range bathroom upgrade (think updated toilet, counters, tiles, fixtures, and lighting) can get you a return of 70.6%. Note that doing more doesn't translate to getting more. A higher investment might raise the cost resulting in lower returns.  

Improvements That Don't Add Value

Knowing which improvements won't add value to your home is critical if you plan to sell your home. These are the home improvement you need to avoid if your goal is to increase your home's value through remodeling or renovating:

● Installing a swimming pool

● Extending a room

● Fitting solar panels

● Installing a wine cellar

● Installing new plumbing or HVAC systems

While these improvements may add an extra layer of comfort and luxury, some can be enormously complicated to install and require a fair deal of all-year maintenance.

For instance, installing a swimming pool can be very expensive. The costs could reach hundreds of thousands of dollars depending on the size—and may pose a significant safety hazard, especially to parents with kids.