Whether you live in your home and want to give it a makeover or are an experienced real estate investor looking to boost your ROI, home renovations are appealing. However, not all renovations are going to increase your home value as much as you’d like.
Some of the best home renovations – the kind that will make tenants swoon – come with hefty price tags. Finding out if the upgrades are worth it are not is definitely worth your time. After all, the last thing you want to do is dump your hard-earned cash into a property and find out you can’t sell or rent it for the price you envisioned when you made renovations.
If you know you’re ready to do some home renovations, check out the Top 10 that will add the most value to your property.
Top Home Renovations in Atlanta That Will Increase Your Property Value
1. Garage Door Replacement
You might not realize the effect your old, outdated garage door is having on your property’s overall curb appeal.
People will have to look at the garage on your home all the time. Not to mention, if it’s a manual garage door, your tenants will soon tire of having to pull that clanky thing up and down every day.
Garage doors usually pay for themselves if you have an existing motorized opener. In fact, you can expect to recoup about 95% of your costs when you replace one. Plus, it just looks nice.
2. Steel Front Door
Speaking of doors, when was the last time you replaced your home’s front door? If the answer is never, it’s time to upgrade. Buyers and tenants appreciate steel front doors for their energy efficiency, low maintenance, and temperature blocking abilities.
The great thing about renovating your home’s front door is that it doesn’t cost a lot, will add lots of value, and makes your home that much more inviting.
3. Stone Veneer Siding
Replacing the existing siding on parts of your home, such as the entryway, with stone veneer is one of the most visually appealing things you can do. In addition, it comes water and corrosion resistant so it will withstand the elements and the test of time. In other words, investing the money into it now will pay off in the long run.
If your home has worn-out siding everywhere, consider replacing it with:
- Fiber-Cement siding that is durable and long-lasting. It comes with lots of protection against the elements and also maintains some flexibility. Plus, it’s a great way to mimic wood.
- Vinyl siding is a budget-friendly option that will make your home look brand new if replaced. It’s made of plastic material and is used to help weatherproof homes. There are tons of colors to choose from and it’s environmentally friendly.
4. Open Up the Floorplan
Spacious homes are on everyone’s wish lists. Whether you’re flipping a property in Atlanta for a profit or looking to place tenants in their next long-term home, opening up the property’s floorplan can do wonders.
Open floorplans let more natural light in, which is inviting. Plus, it gives people more space to work with. Just make sure a home renovation like this is handled by the experts. Your property needs its support. If you go swinging to knock out a wall and have no idea what you’re doing, the results could be disastrous.
5. Minor Kitchen Upgrade
Sure, if you have the cash on hand and aren’t too concerned with ROI, spend all you want on a major kitchen renovation.
However, if you’re just looking to increase your home’s value without breaking the bank, think smaller. You don’t always have to redo everything to recover your cost and add value.
Here are some quick tips for renovating a kitchen in the best way possible:
- Make room for a larger refrigerator
- Order countertops after the cabinets are in to ensure accurate dimensions
- Install under-cabinet storage racks
- Install a decorative backsplash
- Repaint the walls a bright and neutral color
- Install fresh, new flooring
- Think small – details like light fixtures, faucets, and cabinet handles make a difference
6. Window Replacement
A lot of people forget about the fact that windows get old over time. Of course, replacing all the windows in your home can get pricey. And the added value might not be worth it in the long run.
That said, here are the best times to consider window replacement during a home renovation:
- You’re updating the overall appearance of your home’s exterior and you need to modernize the windows to match
- You want to improve the energy efficiency of your home and reduce heating costs
- They are damaged beyond repair and it’s worth it to just replace them entirely.
In the end, repairing windows and doing other green renovations will save you money. But if overall aesthetic appeal and added value are what you’re after, you’re better off replacing them instead.
7. Full Bathroom Remodel
The bathroom is one of the most used rooms in a home. And while full bathroom remodels can cost a lot, if they’re done right, you can get a lot of bang for your buck when you do it.
One of the most valuable bathroom renovations you can make is removing your bathroom’s tub and replacing it with a walk-in shower. Just make sure to note what’s going on in other bathrooms in your home.
If you plan to sell or lease your property in Atlanta and a family with small kids buys or rents from you, chances are they’re going to want at least one tub in the house. If you turn your only tub into a walk-in shower, you could do the opposite and decrease the value of your home.
Other things to consider include:
- Style and Finish: your bathroom’s style and finishes will make or break its overall design. Pay special attention to small things like tile quality, color schemes, and fixtures while transforming your bathroom.
- Safety: if you’re renovating an older home, take care to tend to the bathroom floors too. They may have become worn and slippery over time and can be a safety hazard.
- Efficiency: people on the hunt to buy or lease a home are looking for energy efficiency, even in the bathroom. Low flow toilets and shower heads, automatic faucets, and energy efficient lighting are a great start.
- Storage Space: be sure to include more storage space in your renovations if you can. Your buyers and renters will surely be on the lookout for added storage space for their bathroom supplies.
Lastly, hiring the right team to help you with your bathroom renovations will go a long way towards adding the value to your home you want.
8. Install Hardwood Floors
According to the 2019 National Association of Realtor’s Remodeling Impact Report, installing new hardwood floors in your home will net you 106% in terms of value recovered. Ranking as one of the top three ROI remodeling investment projects, it’s worth considering if you’ve been wanting to renovate your property’s flooring.
Hardwood flooring is comparable to high-end carpeting. However, it doesn’t come with all the hassles of vacuuming, shampooing, and replacing when worn or stained. There’s no denying that people love to be in a home with beautiful hardwood floors.
9. Touch up the Exterior Paint
For those on a budget, there’s no need to paint the entire exterior of a home to add value to it. That said, touching up the rough spots can make a worn home look new again. For example, you can power wash the exterior and remove any excess dirt and grime, paint any flakes or chips, or even just paint the front door and trim with a bold color to make it pop.
If you have room in your budget, or your property really needs it, consider giving the entire exterior a makeover – paint and all. Just make sure to pick a neutral color any buyer or tenant will enjoy.
10. Add a Deck
A deck is not a cheap investment. But it sure can pay off in added value. Buyers and renters alike love to enjoy a backyard oasis with their friends and family. And a beautiful deck lends itself to easy entertaining of guests.
If you already have a deck, or don’t want to cash in on one, here are some other great outdoor structures to consider:
- Fences to increase privacy and boost safety, especially for those with small children and pets
- A cozy fire pit that will increase your home’s backyard usability even during colder months
- A swimming pool for those who enjoy the hot summer months and hosting BBQs
- Elegant lighting to give your backyard a glow and can extend any party long into the night
Renovating your home to improve its value should not be your only motivation. Consider the utility and enjoyment you will get from it. Some renovations, such as finishing a basement, are consistently ranked as extremely rewarding by homeowners because of the improvement it makes in their lives. Be sure to consider this aspect of renovation.
Are you looking to begin home renovations on your Atlanta property and find yourself needing some professional help? If so, contact us today and see how we can help.
At Halcyon Remodeling, we know what it takes to transform a rental property from top to bottom and add value – without dipping into your ROI. With 30+ years of experience, our skilled and caring professionals are your one-stop-shop for everything you need when it comes to home renovations. And thanks to our great pricing and workmanship guarantees, you can trust that you’ll walk away with much more than just added value. You’ll walk away with the peace of mind that your home is ready for its next owners or tenants.