After experiencing double-digit increases last year, home prices are expected to rise only a modest 5.7% in 2022. The supply of buyers has lulled, meaning that you can no longer count on the market, automatically increasing your property’s value. A remodeling project is the best way to increase the amount of equity you have in your home, and there are a few simple ones you can get started on right now.
#1. Upgrade Your Front Door
Your front door is one of the first things people notice when they pull up in your driveway. It, therefore, contributes to curb appeal, giving potential buyers a positive first impression. If your front door is already in great shape, you could get by with just repainting and adding new hardware. But if it’s worn or dated, you should consider replacing it instead.
#2. Overhaul Your Foyer or Entryway
Some buyers are more interested in what’s inside the home, in which case your entry or foyer will provide them with their first impression. As such, you may wish to upgrade lighting or add new flooring to see that it shines.
Don’t forget about any staircases that stop at or near your front door. If your stairs are in good condition, others will assume that what’s above them will be as well. Make sure the steps and railings are solid and repaint if necessary.
#3. Add a Fresh Coat of Paint
New paint is a time-honored way to spruce things up inside or out. New exterior paint is especially important if yours is faded or peeling. And a fresh coat of paint inside makes everything look bright, clean, and cheerful, giving the impression that everything else has also been well maintained.
#4. Consider a Kitchen Upgrade
According to Trulia, a kitchen is the one room buyers are most interested in. That being said, you don’t have to redo your kitchen completely. A few simple upgrades such as refinishing your cabinets, replacing your countertops, or adding a new backsplash are enough to refresh your space and give it a more modern feel.
You may not need to remodel your kitchen completely, but there’s no harm in doing so either. In fact, kitchen renovations provide one of the largest returns on your investment whenever it’s time to sell. And since you likely spend more time in your kitchen than in any other room, you’ll benefit in the short term.
#5. Go for a Bathroom Makeover
After your kitchen, the next room that buyers are most concerned with is the bathroom (particularly the master bath). As with the kitchen, this doesn’t necessarily mean you have to tear out everything and start from scratch. New lighting, an updated countertop, or even new floor coverings can improve aesthetics. However, if your bath is especially dated, you may want to consider a complete renovation.
#6. Revamp Your Closets
Storage space is something nearly everyone is concerned with. You can’t always increase the amount of closet space you have, but you can make the most of what is already there. Consider new rods or shelving to maximize storage capacity and ensure that every nook and cranny is put to good use. While you’re at it, paint the inside a bright white to make it appear larger and more open.
In Need of Home Remodeling? Contact Us
Would you like to tackle one of the above projects but are worried about taking on more than you can handle? If so, please contact us. Our crew will eagerly help you add value and functionality to your most prized possession – your home.