Add Value with Home Renovations that Buyers Will Love

Even luxury homes can benefit from updates that add value to the property and improve their appeal to buyers. Whether you’re preparing to sell your home or simply revamp it for your enjoyment, deciding which home renovations to focus on can be overwhelming. Narrowing down the list of options to those with significant impact for re-sale value will be your best bet. Speak with your realtor about your home to help you identify the best areas to invest your time and money.

We’ve compiled a list of home renovations to consider for added value that you and potential buyers will love!

Kitchen Updates Always Add Value

The kitchen is the heart of your home and can be a major decision-maker for buyers. If your kitchen feels dated or lacks functionality, this is the space where you should focus your attention on home renovations initially to add value. 

However, upgrading your kitchen doesn’t require you to take everything back to the studs. The Remodeling Cost vs. Value Report for 2023 says homeowners can expect a return of 30.7% to 85.7% on their investment in a kitchen renovation, with the best ROI seen in minor and mid-range improvements.

It might be tempting to overhaul your kitchen completely, but unless you have significant structural or layout challenges to overcome, major home renovations won’t recoup their expenditures as well. The added value from upgraded cabinets and appliances in a modern design can create a dramatic improvement without massive investment. 

Outdoor Living Spaces Extend Livable Square Footage

The importance of outdoor living spaces has increasingly become a priority for buyers and homeowners in the post-pandemic world. Architects and design experts agree that indoor-outdoor living is the next frontier in home design.  

According to the Top Features and Design Trends for 2023 Report from NAHB, a home that caters to a sense of well-being informs many buying decisions. Outdoor living spaces, in particular, offer a respite from the world, and buyers are willing to pay more for them. 

While fenced-in yards and attractive landscaping are still important requests, you can significantly add value to your home with buyer-desired home renovations such as a screened-in porch, a fire pit with a conversation area, a deck or patio, or even a pool. Even upgraded outdoor lighting is an enhancement that draws buyers in. These outdoor design amenities increase livable square footage with a high return on investment. 

Home Offices are a Major Draw

A changing work world over the last few years has created a shift in the home amenities buyers are seeking. A home office is at the top of the list for desired conveniences. Converting an underused space to serve as a home office will add value for buyers looking for a home that serves all their needs. 

Depending on your floor plan, these could be minor home renovations such as constructing built-in bookshelves, adding a custom-built desk, or enhancing lighting in an existing room. Consider an addition built onto your home or converting an outbuilding on the property into an attractive, functional workspace. Home office remodels are estimated to provide a 54% return on investment, making them a beneficial space to consider in home renovations.

Don’t Always Go Big: Small Renovations Have Enormous Impact

Most homes seem majorly updated with a simple refresh. Paint, in particular, has a wonderful ability to transform a room. Brighten dull areas with light colors, freshen up the paint on trim and doors, and create a cohesive look throughout the home with a low-cost investment. 

Upgrading features such as light fixtures, cabinet pulls, and even door handles can contribute to a more expensive look without a massive investment in home renovations. If your home is already modernized, creating a sense of luxury and freshness with these simple updates can add perceived value for a buyer. 

Keep in mind with any home renovations that buyers like to visualize themselves living in the home. Any design with a strong point of view might make it a tougher sell than a more impartial design. Consider neutral colors that carry through the home instead of bright colors, and incorporate more classic elements over momentarily trendy design features. You’ll see a better return on investment when selling your home if a buyer feels confident they won’t need to make changes themselves. 

Warren Bradley Partners is the Real Estate Team for You

If you’re in the market for your next home, review the homes for sale from Warren Bradley Partners. Their real estate team can help you find the perfect luxury home that suits your lifestyle and needs. Contact a real estate team member to learn more about buying or selling a home in the greater Nashville area and beyond.