Most people see the kitchen as the center of the home. It’s where people naturally congregate during parties, family get-togethers and family nights in. Updating your kitchen by replacing countertops, refacing or replacing cabinets, swapping out linoleum tile for real stone, purchasing new appliances or getting new fixtures will boost the value of your home and recoup up to 87 percent of your costs.
Bathrooms must feel clean, new and fresh to attract buyers. Remodels that include replacing everything, including the bathtub, countertops, sinks and toilets recoup 80 percent of their cost, according to The Street. Adding a bathroom costs slightly more, at an average of $14,216 as opposed to $9,786 for a remodel, but recoups 81 percent of its cost.
Turning an attic or basement into a bedroom also boosts the value of your property, and you will recoup upward of 75 percent of the renovation costs. These traditionally unused spaces widen the spectrum of buyers who will consider your property if you list it as a three-bedroom rather than a two-bedroom home. Making an unused space a home office may also be attractive to buyers, particularly as the work-at-home population grows.
Environmentally friendly improvements save you money while you’re living in the home and add to its resale value when you’re ready to sell. Improvements such as energy efficient windows, appliances, a new roof and solar panels are all attractive qualities to buyers. It means a decrease in their utility bills without the hassle of making the improvements themselves.