If you’re trying to sell your home, then you’re probably already aware of the importance of property value. In most cases, real estate appreciates in value (meaning that the value increases), although certain conditions and situations can make real estate depreciate in value— and home improvement projects can do both. Any structural or cosmetic changes you make to your home will either increase your property value, or decrease it. With that being said, it’s important to know exactly which projects will increase your value and which ones will decrease it, so here are five projects that are most likely to increase the property value of your Virginia home.
1. Bathroom Renovation
A home renovation means that you’re making cosmetic changes to the interior (or exterior) of your home, so cosmetic improvements to your bathroom is one of the simplest home improvement projects you can do. Something as simple as painting the walls and updating the flooring are enough to increase property value. Because bathroom renovations tend to add a great deal to your overall home value, it’s a good idea to update everything as long as it’s in your budget to do so. Update the lighting, sink faucet, and other hardware, and you can also update your vanity, toilet, and bath/shower.
2. Fence Installation
Many home seekers in Virginia like the idea of having a fenced-in backyard, so adding a fence to your property is likely to increase its value. Fences are designed to keep children and pets in, and to keep undesired pets/animals and other unwanted visitors out of the yard. Just keep in mind that you may have to obtain the proper permit before adding a fence to your yard, so you’ll need to check your local zoning and building ordinances to see the specific fence laws for your area.
On the other hand, if you already have a fence then it’ll be a good idea to touch it up— especially if it’s damaged. This adds to the overall curb appeal of your home.
3. House Painting
Speaking of curb appeal, your actual home is more than likely the first thing seen when driving up to your property, so you’ll want to make the exterior of your home look as appealing as possible when you’re trying to sell it. If the paint is fading or chipping, it can be a very unpleasant eyesore to potential buyers. However, before you paint, you’ll want to power/pressure wash your home to get all of the debris off that has built up over the years. Oftentimes homeowners find that their home only needs this power wash instead of a completely new paint job.
4. Kitchen Remodel
As mentioned earlier, a renovation is a cosmetic change, but a remodel is a structural change. Remodels almost always require the expertise of a professional, so these aren’t considered D.I.Y. projects. Kitchen renovations are enough to increase your property value, but kitchen remodels may also give you more bang for your buck. Some of the most desirable kitchen features that may require some structural changes include:
- Breakfast nook
- Multifunctional island
- Open-concept kitchen/home
An open-concept home means that there is no distinct border between your kitchen and your living space— until you furnish it. Even then, only your furniture (and possibly decor) makes the distinction between the kitchen and the living room.
5. Porch/Patio/Deck Upgrades
Your outdoor living area is just as important as your indoor living area, so don’t neglect this when sprucing up your home. When power washing/touching up the paint on your house, don’t forget about your porch, patio, or deck. Also, update or add some furniture to these areas to make them look more cozy and inviting. You can also enhance the overall look and feel of your patio by adding a pavilion with a timber frame to “house” your patio furniture, grill, and other outdoor amenities.
Keep in mind that certain home improvement projects (such as the fence, a remodel, and possibly even porch/deck upgrades) will require you to obtain a building permit before you can legally make any changes. Fortunately when you hire a professional to do these projects for you, they’ll take care of obtaining the permits and will comply with all building codes. Also, make sure to hire the best professionals for each project you plan on doing. Unprofessional work will actually decrease your property value, even if it’s one of these value-increasing projects.