High or low, everyone has a budget when it comes to renovating a home or investment property. So, it’s important to choose the right renovations to maximize your budget and get as high of a return as possible on your investment. I spoke with several of the top real estate agents in Texas and Hawaii to learn the best renovations to add value to your home. Not only did they share some astute and outside-of-the-box recommendations, but these ideas are also applicable nationwide.
You never get to make a second first impression, that’s why many renovators start with front landscaping.
Landscaping
Remember, you never get a second chance to make a first impression. Investing in quality landscaping can increase the value of your home, especially if it’s on the market or about to go on the market. “Everyone likes beautiful curb appeal,” says Demetrice Ballenger of Houston-based Baker & Co. After all, the property is the first thing buyers see even before they get inside the home.
When it comes to the kitchen, it’s better to stick with classic design details.
An Updated Kitchen
Every real estate professional agrees that updating a kitchen is money well spent. If you’re considering this renovation, luxury real estate specialist Jessica Cisneros says installing different colored upper and lower cabinets is the way to go. “They stand out from the rest of the kitchen cabinets in other homes.” Another design choice the agent recommends is an extended rectangular waterfall island instead of a traditional island or peninsula.
Jaime Baker, founder of Baker & Co., says it’s best to approach a major kitchen renovation by choosing the countertop first, then selecting the flooring. “It’s much easier to coordinate your flooring to your countertop than the other way around. This also allows for some flexibility in the styles you choose,” she adds.
Baker also says that you can’t go wrong with timeless finishes. Think stainless steel appliances, marble, and a light-colored backsplash. Opt for a timeless aesthetic versus a bolder choice like a red backsplash or teal appliances and you’re more like to recoup the money you’ve put in.
A home office doesn’t require as much space as a bedroom.
Home Office
Home offices became essential during the pandemic and have continued to be important as many companies have gone to a hybrid model or closed their offices altogether. So taking the time and money to build out a proper home office is a smart idea, according to Baker. Keep in mind that a home office doesn’t require as much space as a bedroom, so this can be a better use of a smaller room that perhaps doesn’t have a closet.
A home gym is another amenity that can add value to a home.
Home Gyms
Looking to create a great amenity that will add value to your home? Baker suggests, “A home gym with a sauna. Saunas/steam rooms in the primary bathroom are also highly sought after.”
Like home offices, many people have shifted their fitness and wellness routines out of the gym. So a space large enough to accommodate a few pieces of larger equipment such as a Peloton or Tonal, a yoga mat, and some weights is an excellent addition to any home.
Swap fixtures for a fresh look.
Upgrading Your Light Fixtures
Baker tells me upgrading your light fixtures will make a significant impact because old and outdated lighting fixtures are an instant turn-off to buyers. New ones will certainly attract the eye and give a more minimalist space the wow factor it needs. Best of all, this is one of the easiest projects to complete. While fixtures can be expensive, there are plenty of more budget-friendly design options, which is something to consider if you are outfitting an entire home. Just be sure to hire an experienced electrician.
A solar array or generator can provide backup assistance during outages and emergencies.
Adding A Generator
Sometimes blackouts can last for days, so adding a generator can be a smart move not only for your own convenience but also to attract future buyers. “This is important if your power goes out in a storm or flood,” says Baker. If you live in an area where there are frequent blackouts, storms, or inclement weather, it’s worth at least considering.
It may not be glamorous, but adding a new roof is a smart way to add resale value.
A New Roof
While a new roof isn’t a very glamorous renovation, it can add value to a home because, according to Ballenger, “It saves money on homeowners insurance.” A roof can last a long time, so if you plan to sell your home in the upcoming years, it’s a worthwhile investment.
Patios make great space for dining, relaxing and entertaining.
Creating Indoor/Outdoor Spaces
Tropical climates often have homes that embrace indoor/outdoor living, such as patios, lanais, etc. Brad MacArthur of Hawaii Life shares: “In Hawaii, if remodeling, keep in mind our indoor/outdoor living style. We dine, relax, entertain and live on our lanais and patios. Glass sliders that can retract completely into a wall when not in use are incredibly popular and allow seamless movement between indoor and outdoor living areas, creating one ultra-large area to live. And when sliders are closed, they still give an appearance of open space.” This philosophy can be applied to any warm climate, such as Southern California, Arizona, and Flordia.
