How to Make Renovations Work as Smart Investments for You

written by

Jim Mucci

posted on

November 6, 2024

smart renovations for investments

Want to make your home better and get more money later? Start with projects that make your home nicer now and worth more when you sell it. Fix up your kitchen and bathroom first – you'll get most of your money back. Make the front of your house look pretty to help it sell for more. Put in things that save power, like smart controls and better windows. This cuts your bills now and helps you sell later. Turn your empty basement or attic into new rooms you can use or rent out. Even small things help – new paint can make your home worth more than what you paid for the paint! The best way to fix up your home is to pick projects that help you now and make you money later.

High-ROI Kitchen and Bath Updates

profitable home renovation ideas

Want to make your home worth more? Start in your kitchen and bathroom. These rooms give you the best value when you sell – you can get back 75-85% of what you spend.

Keep it simple. Look at other homes in your area and make your updates match. Put in new counters made of quartz or granite. Add steel appliances that don't show marks. Change old knobs on your cabinets.

In your bathroom, put in a new sink and toilet that save water. Pick clean, fresh tiles. Add a clear glass door to your shower to make it feel like a spa. Use bright LED lights that cost less to run. Put in faucets that save water too.

Make sure everything looks like it goes together. When things match, buyers like your home more and will pay more for it.

Smart Curb Appeal Improvements

Your home's outside look matters a lot. When people see your house, they decide in a few seconds how much they think it's worth. Making your home look nice from the street can make it worth more money – up to 11% more!

To get the most value, focus on three main things:

  1. Paint your house in nice, plain colors that most people like. New paint keeps your house safe and can give you back more than you spend.
  2. Add pretty plants and neat garden edges. Good yards can make your house worth much more than what you paid to fix them up.
  3. Put in a new garage door. This simple change makes your house look better right away and is worth the money you spend.

Make sure your house fits in with other homes nearby. Don't make it too fancy or too plain for your street.

Energy-Efficient Home Upgrades

sustainable housing improvement solutions

Your home can save you money when you make it use less energy. When you add energy-saving items to your home, you often get back most of what you spend. Plus, your monthly bills will go down right away.

You can start by getting new machines that use less power. Put in a smart device to control your heat and cold. Add fluffy stuff in your attic to keep the warm air inside. These small steps can cut your power bills by a lot each year. New LED lights use much less power than old lights and last much longer too.

To save the most money, think about putting solar panels on your roof. They catch the sun to make power and make your home worth more money. The government will even give you money back for getting them.

New windows that have two pieces of glass can also save you lots of money on heating and cooling costs each year. People who want to buy homes really like these things.

Basement and Attic Conversions

Want to add more living space to your home? Look up and down! Your attic and basement can become amazing new rooms that make your home worth more money.

Many people turn these empty spaces into cozy living areas. When you fix up your basement or attic, you can get back most of what you spend when you sell your house. You can also make your home up to 30% bigger!

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Your basement can become:

  • A movie room
  • A work space
  • A rental room that can earn you $800-1,200 each month

Your attic can turn into:

  • A nice bedroom
  • A play room
  • A quiet study

The costs are simple:

  • Basements: $25-50 for each square foot
  • Attics: $30-60 for each square foot

Home buyers love these spaces. In fact, fixed-up basements and attics are in the top five things people want when buying a house.

Budget-Friendly Cosmetic Transformations

affordable beauty makeovers available

Want to make your home look better without spending too much? Start with simple changes that make a big impact.

Paint your walls in fresh colors. Add new handles to your doors and drawers. You can even put new faces on your kitchen or bathroom cabinets. This costs much less than getting all new cabinets.

These small fixes can make your home worth more money when you sell it. Best of all, you can keep living in your home while making these changes.

Quick Paint Color Updates

Paint makes your home worth more money – more than any other quick fix you can do. When you spend $100 on paint, you can get back $107 when you sell.

Want to get the most from your paint job? Here's what works best:

  1. Pick soft gray-brown (called greige) for your main rooms. Homes with these colors sell for more money.
  2. Make your front door dark – black or dark gray. Houses with dark doors sell for about $6,000 more.
  3. Paint your bathrooms light blue. This can add about $2,700 to your home's price.

Skip the cool new colors that won't last. Stick to basic colors that most people like.

These colors help sell your home faster and for more money.

Add Stylish Hardware Accents

New doorknobs and handles can make your home look fresh and new. When you sell your home, you can get back more than what you spent on these small changes.

Pick out shiny new handles in black, silver, or gold. These are the colors that people like right now. Start in places like the kitchen and bathroom since that's where people look the most.

You can get new handles for all your kitchen doors and drawers for less than $100.

Make sure to pick the same style for your whole house. This makes everything look nice and put together.

Also, get handles that fit in the same holes as your old ones. This way, you won't need to make new holes.

Refresh Cabinet Door Faces

Your kitchen cabinets can look fresh and new without buying all new ones. A simple update costs much less than getting brand new cabinets.

Most people love to see nice cabinets when they look at homes to buy.

Try these easy ways to make your cabinets look better:

  1. Paint your cabinets with good paint that won't chip. Use the right primer first. The paint will look nice for many years.
  2. Put new covers on your old cabinet doors. These stick-on covers cost much less than new doors but make them look brand new.
  3. Add glass in the middle of your cabinet doors. This makes your kitchen feel bigger and most people love how it looks.

Home Technology Worth Installing

Smart homes make life easier and add value to your house. Adding the right tech can make your home worth more money. Buyers love homes with new tech features.

Let's look at what these smart devices cost and how much value they add:

Device Type Average Cost ROI %
Smart Thermostat $200-300 110%
Security System $800-1200 85%
Smart Lighting $300-500 75%
Video Doorbell $150-250 95%
Smart Locks $200-400 80%

Pick devices that work well together. Start with a main control hub. You can connect your heat, lights, and security to it. This will help you save money on power bills – about $500 each year. Your home will also stand out when you want to sell it.