Want to Raise Your Home Value? Renovate These 3 Rooms

If you want to increase the value of your home, there are three key rooms that will provide you with the most return on investment. Renovating these select rooms in the home will increase your home’s value as well as attract home buyers when you plan to sell your home.

Spruce Up the Bathroom

Since the bathroom is one of the most used rooms in a home, it’s important to make sure it’s functioning correctly and routine maintenance is performed. Even small updates like installing new grout around tiles for a cleaner look can equal a big return. The bathroom will definitely benefit the most from renovations. You could increase your home’s value and give your bathroom a modern look by:

• Replacing an outdated vanity
• Replacing old plumbing or lighting fixtures
• Adding new floor or wall tile

Update the Kitchen

If you ask a real estate agent what room provides the greatest return on investment after being updated, they will tell you the kitchen. While that’s true, there’s no need to start from scratch to create an updated kitchen space. Matching stainless steel appliances are timeless and can add a lot of value to your home. There are a few small changes that can make the word of difference in a kitchen including:

• Painting walls and cabinets
• Adding a new backsplash or new tile
• Adding a rolling island for storage and more counter space
• Hanging a pot rack or wine bottle holder
• Replacing cabinet doors or handles

Finish the Basement

Remodeling an unfinished basement can add value to your home and increase your investment. Here are a few suggestions on how to spruce up the place without spending a fortune:

• Add drywall and paint it in light tones to make the room brighter and appear larger
• Build in bookcases or an entertainment center to add depth to the room
• Hide support beams and ceiling pipes with furniture or consider painting them in accent colors
• Add heated flooring to keep the space warmer during the winter and help prevent mold and mildew from growing

Before you begin to finish your basement, make sure that you have a professional inspect the area for any signs of damage and check home equipment like the ventilation system. Doing so will help prevent possible carbon monoxide buildup and make sure that your systems will run efficiently.

Up Next: What is a Home Inspection?

The above information is for educational purposes only. All information, loan programs and interest rates are subject to change without notice. All loans subject to underwriter approval. Terms and conditions apply. Always consult an accountant or tax advisor for full eligibility requirements on tax deduction.