Unless you plan to live in your home for the rest of your life, which you may very well be, any home improvement projects should be undertaken with the future in mind. Everything from paint colors to landscaping can affect your home value. If you plan to sell your home in the next few years, keep in mind the kind of improvements that attract potential buyers. In general, bathroom and kitchen upgrades are the most expensive but also show the most return on investment.
The kitchen is the room that most often needs an upgrade. When making choices about important elements like backsplash, cabinets, and countertops that what you like may not increase your home value. If you’re looking to sell your home in the future, consider staying away from highly customized designs. You may love a trendy purple backsplash, but potential homebuyers may be turned off. That doesn’t mean you can’t add a little personality, but don’t ignore timeless looks that could provide a better return on your money.
Take the time to look at your home through the eyes of a potential buyer. Adding an additional half bath on the first floor may be just enough to convince a buyer that your home is right for them. However, if that half bath makes the floorplan awkward, it may be a turnoff. You may be better served by a fresh coat of paint throughout your home creating a unified look or upgrade any outdated appliances and fixtures, essentially giving your home a facelift.
Another important consideration is location. Homes in Florida, California, and other warm climates may increase in value with the addition of a pool. In moderate to cold climates, a pool may not add enough value to make up for the cost of installation and maintenance. The money may be better spent repainting the exterior or investing in landscaping.
Home-improvement should always be done with an eye to the future. Find a balance between your personal preferences and salability.