If you reside in a growing city with a continuous influx of people, companies, and jobs, you’ll most likely experience natural property appreciation. However, you can also increase the value of your home by making changes that bring exponential value. This is commonly referred to as adding value to real estate.
There are various ways to add value to your house, such as fixing up the garden landscaping or changing your driveway. Other methods include cosmetic renovation, adding rooms, upgrading the kitchen and washroom, or undertaking larger projects such as adding additional living spaces, floors, and more.
Not all value-adding activities are equal, and some renovations are more worthwhile than others. In this chapter, we’ll explore the various types of value-added activities you can do to your home to get the most significant return on investment.
The following list outlines the top renovations that add the most value to a home, according to the 2022 Cost versus Value Remodeling Report:
- Garage door replacement
- Manufactured stone veneer
- Minor kitchen remodel
- Siding replacement
- Window replacement
- Deck addition
- Entry door replacement
- Grand entrance
- Roof replacement
- Bath remodel
Bear in mind that these are just some of the ways to increase the value of your home, and the specifics will vary depending on your circumstances. One simple and cost-effective method that is not on the list is to give your house a fresh coat of paint, which can make the entire property look brand new.