9 Upgrades to Boost Your Property’s Real Estate Value

The years after the pandemic were a roller coaster for real estate. And the year 2024 continues this trend. We’ve been witnessing many market changes, such as higher interest rates than ever before. These changes also impact the home renovation projects in terms of increasing value. 

During the pandemic, the quarantine rules limited the moving of people, so staying at home led to starting home renovation projects like building outdoor kitchens and elaborate home offices for people working remotely. It became a trend that was later adopted as regular. Plus, these kinds of house projects added value to the property and more and more people started accepting them. 

In this text, we will discuss nine upgrades that boost your property’s real estate value and how to do that. 

1. Improve The Home’s Curb Appeal 

Let’s start from the exterior. The biggest impression a real property leaves is with its curb appeal. It tends to entice people and help them envision how it would be to live in such a property, so the cleaner and more organized it looks, the more potential buyers it will attract. Real estate agents say that investing in curb appeal can bring a high return on investment. 

Cutting grass, weed control, and fertilization are essential to improving curb appeal. Adding bark mulch and tidying up the landscape, including shrubs, walkways, and flower beds, can also beautify the property. 

Now, going the extra mile will be adding fresh exterior paint, which significantly increases the resale value, or adding a new garage door, which will boost the appeal of the property’s entry points. Other renovations, like siding updates or adding a deck, also give excellent ROI. 

2. Create a Functional Floor Plan 

A floor plan increases its functionality when the livable square footage is increased, which, on the other hand, increases the home’s appraised value. Considering reworking the floor plan with additional space is a good idea as it will make the home more functional and modern. You can add a large bathroom or a kitchen connected to the other rooms, walk-in closets, and even more prep space to the kitchen to improve the living conditions. 

There is a statistic that says you have a potential 70% return on investment if you convert an unfinished basement into a livable space. All unused spaces need to be converted into functional spaces, like turning an unused home office into a bedroom. 

3. Upgrade the Bathrooms with More Luxury 

Potential buyers always seek spa-like bathrooms, especially if they are willing to pay a bit more money. So upgrading the bathroom with luxurious features like rain shower heads, double sinks, soaking tubs, and extra storage can all attract potential buyers’ attention. If you have a larger budget, you can create the illusion of more space by placing mirrors strategically. 

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4. Installing a Kitchen Island for a Walk-in Pantry 

Buyers are drawn to the most attractive room in the home first – the kitchen, so they always look for functional and aesthetically pleasing features. You must install a kitchen island, a walk-in pantry, and spacious cabinet storage for that purpose. These upgrades provide extra counter space and help the family envision prepping meals and having dinner in a happy and relaxed atmosphere. 

5. Build Our Convert a Home Office

Promoting work has become trendy, so making the office more desirable is a must. If there is an existing space, like a closet, that you don’t use, you can convert it into a home ofice. If there is no such space, you can build a home office. An extra will be adding natural lighting and home office decor to make it more appealing. 

6. Expand Your Outdoor Space

A lot can be done with more outdoor space in the house. It can be transformed into an area for relaxing and entertaining. You can boost the appeal of the garden or install a pool, deck patio, or hot tub. These features will immediately raise the property’s value. Adding a pool can especially increase the home’s value in warmer climates. 

7. Prepare Your Home For Intergenerational Living 

More and more homeowners want to modify their current home to make it suitable for intergenerational living. This trend includes renovations to make way for children moving in with all the parents or adding accessory dwelling units for extended family members. These can significantly add value to the home but come with more considerable initial costs. These design features, like ramps, are also crucial for older generations for facilitative mobility around the house. 

8. A More Extensive and More Functional Foyer 

A foyer is a place where you can drop off gear, especially in areas with harsh winters. These spaces should be upgraded with features like a laundry area, central phone charging station, and specified storage for each family member. Benches hooks and built-in cubbies and to the values as well.

9. Small Changes For a More Significant Impact 

Lastly, making small changes and minor repairs to the property can make the biggest impact. These small updates include:

  • Cleaning up the property 
  • Adding a fresh coat of paint 
  • Fixing windows with leeks 
  • Fixing gas leaks 
  • Redoing flooring 
  • Updating old or outdated appliances 

How Property Managers Can Help 

Property managers offer valuable assistance during home renovations. They have extensive knowledge of market trends and can recommend the most impactful upgrades, especially for your property and neighborhood. They can also coordinate with contractors, manage project timelines, and ensure high-quality work, saving the homeowners stress, time, and money. 

Plus, they understand the local regulations and can help secure the necessary permits to make renovations comply with legal standards. 

Conclusion 

Not all renovations will increase the home’s value, so you need to select the ones that will do, so carefully choose your priority ones. Current trends and functionality should guide you in choosing what to repair or upgrade as a priority, and you can talk to a local real estate agent or property manager to help you with their insights. Follow the tips outlined in the text and make informed decisions that will help you boost your property’s real estate value.

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