When it comes to selling a home in Philadelphia, all of Pennsylvania, and also all over the U.S., you’d hope that your property appreciated over the years you’ve had it. In most cases homes increase in value, but there are some factors that result in depreciation, as well as some home improvement projects. Whether you’re planning to sell your home or not, here are some examples of interior and exterior home renovation projects that will increase your property value if you live in Philadelphia or the surrounding areas.
When it comes to home renovations, interior renovations are the most popular. Again, not all interior renovations will increase property value, but these three generally will do so in Philadelphia and the surrounding areas.
Converting an attic or a basement into a bedroom is one of the easiest ways to add square footage to your home. Some spaces may even be larger enough to add a bathroom to them. For even larger basements and full attics, ask a contractor if they can be converted into an entire living space, with both a bathroom and kitchenette included. Kitchens and bathrooms are considered the most important rooms in the home, so having extras can add to property value.
If you can’t add a bathroom to your home or in an existing room, renovate the bathrooms you do have. Because bathrooms are the second most important room in a home, you’ll be able to get a good return on your investment. The good news is that you don’t have to do a full bathroom remodel to see this ROI— upgrades to your lighting, hardware, and shower head will be enough. However, you’ll also benefit from making “universal” upgrades, such as switching to a walk-in shower or bathtub.
The kitchen comes in at number one when it comes to the most important and also the most popular room in a home to renovate. Like the bathroom, a kitchen renovation has a very high ROI. Kitchen renovations can be simple, such as updating countertops, hardware, and lighting, or you can go bigger by adding more usable space. This includes adding a kitchen island and a pantry.
It’s important not to neglect the exterior of your home, especially if you’re planning to sell. Curb appeal (what’s first seen from the curb) is extremely important when it comes to property value. Aside from regular repairs (e.g., roof, siding, etc.), here’s what you should focus on.
Adding a deck (or patio) to your backyard extends your interior into the exterior because now you’ve created another gathering space for the home. If the kitchen is the most important place in a home, then it would make sense that adding another would increase property value. A deck or patio allows you to create an outdoor kitchen space. Just make sure that you’re hiring a professional to build a deck or patio— especially if you’re selling your home.
Incorporating elements such as a reishi mushroom garden can also add appeal as more and more people are becoming interested in the medicinal fungus and its benefits.
The average cost of landscaping is about $2,500, but it adds so much more to your property value. Landscaping is definitely something that boosts curb appeal because it can instantly make a house look more attractive. If you’re pretty good at gardening you can take a shot at landscaping yourself, but you should go with a professional landscaping company if you don’t have a green thumb.
Finally, touching up some paint here and there can really make a difference. First you should start by power washing your home because this will remove all of the debris that has built up over the years. This will also help you see whether you need a few touch-ups or an entire paint job. Even painting your front door and window shutters (after power washing) is enough to make your home look brand new.
When it comes to increasing property value before you sell your home, you want to focus on the renovations that will give you the highest return on your investment, and these six will do just that for homes in the Philadelphia area. Even if you’re not planning to sell your home, you can still benefit from and enjoy all of these projects. In addition to all of this, it’s also important for all homeowners to keep up with regular maintenance. This includes routine cleaning (interior and exterior) and keeping up with home repairs.