Most home renovations and remodels increase property value, but many others will actually bring your value down. It varies by state, which is why it’s important to know which home improvement projects will add value to your property, and which ones you should stay away from.
For example, homeowners who live in colder climates shouldn’t add a pool to their backyard in anticipation for the summer months— especially if the majority of the year isn’t warm enough for a pool. Here are some home improvement projects that will increase your property value if you live in northern Virginia.
Most of the time, a simple renovation is all you need to give your home a new look— while also increasing your property value. Renovations are cosmetic changes you make to your home, without changing the purpose of the room.
The bathroom is one of the most important places in a home, which is why remodeling it will increase your property value. Just don’t go too crazy with your changes and completely alter the layout— this can actually decrease property value. Instead, you can update your shower/bathtub, toilet, and vanity, or you can keep it simple by updating the hardware and faucets.
The kitchen is probably the most important room in a house because it’s the heart of the home. It’s where families gather together for birthdays, holidays, and every day. The key to a great kitchen renovation is simplicity and functionality. You can add a small kitchen island to create more counter space, and you can update your hardware, flooring, and countertops to match the current trends.
Adding additional square footage to your home almost always increases property value, no matter where you live. This includes building onto your home, but you can remodel other rooms in the house to add more liveable space. Remodels are structural changes to a home or room and changes the purpose of a room.
Close to 40% of Virginia homes have basements (especially those in northern Virginia), so many of you will be able to add liveable space by finishing your basement. Depending on how big your basement is, you can convert it into an additional bedroom, or you can convert it into a mini living space with a bathroom and kitchen area.
Another way to create more “space” is by extending your home into the outdoors. This can be done by adding a timber frame pavilion to your backyard or adding on a wooden deck or concrete patio to your home. Your kitchen is a great gathering space when indoors, but having a gathering space outdoors allows for more people to join in on the fun. Add plenty of seating and maybe even a grill, fire pit, or an entire outdoor kitchen!
Improving your home’s curb appeal (the first parts of your home that’s seen from the street) is another thing that almost always increases property value. You want your home to make a good first impression when visitors and appraisers drive up to it, so take care of the outside as you would the inside.
Water and mow your front and backyards when necessary. In most cases, this is enough to keep your lawn looking neat. However, more specific yard care and maintenance may be necessary, and following a guide specific to your area can help keep your lawn looking as perfect as possible.
Paint tends to fade over time, so you’ll need to have a touch-up done after a while. First, start by pressure washing your home to ensure that it’s not just a buildup of debris that’s making your exterior look dull. After this, you’ll be able to determine if your home needs a new paint job. You can even touch up accent pieces, such as your front door and window shutters— just make sure that you call a professional if you have to work from a height.
The type of home improvement projects you choose are very important, especially if you want to sell your home in the future. If you plan on remaining in your home, then it won’t matter too much which home improvements you decide to do. As long as it’s in compliance with your HOA (homeowners’ association) and a professional job is done.