5 Projects That Add Value to Your Home

Spending more time at home has inspired many homeowners to focus on upgrades to their living spaces. However, not all home improvements offer the same return on investment (ROI) if you eventually sell the property. In fact, some projects actually decrease the value among certain groups of buyers. Examples of improvements that don’t always appeal to homebuyers include installing a swimming pool and converting the garage into additional living space. If you hope to get a good return on your investment, choose projects that add value to your home.

1. Improve the Bathroom to Add Value to Your Home

On average, you can recoup around 90% of the money you spend on upgrading your home’s bathrooms. Projects that add value include repainting the walls, adding new lighting fixtures, installing a custom mirror or two, and replacing the old bathtub or shower stall.

2. Upgrade the Kitchen

Kitchen remodeling projects offer an approximately 80% ROI. Buyers love updated cabinets, new appliances, energy-efficient light fixtures, and a modern kitchen faucet. If you’re planning to sell your home soon, don’t go overboard. Choose projects that add value but understand there is a limit. Spending $100,000 on a kitchen renovation for a home with a market value of $200,000 doesn’t make financial sense.

3. Boost Security and Add Value to Your Home With a Steel Door

While replacing your home’s current front door with a new one made from steel doesn’t sound like a particularly good investment, this is a great project to boost property value. Buyers appreciate that a steel door is insulating, increasing energy efficiency. Steel is also low maintenance and helps improve home security.

4. Add Stone Veneer Siding

To quickly give your home a new appearance, install manufactured stone veneer siding to a portion of the facade. This siding is attractive and relatively cost-effective. Stone veneer is lightweight, has a timeless look, and boosts curb appeal. The expected ROI for stone veneer siding is around 95%.

5. Build a Backyard Deck

Add more living space and provide a place for your family to spend time outdoors with a backyard deck. You’ll find a wide variety of building materials to choose from, including hardwoods, aluminum, and composite decking. Depending on the material you select, it is even possible to profit from installing a deck on your property.

Peconic Home Inspections offers inspection services to customers in Long Island. If you’re selling a home, contact us for a pre-listing home inspection.