You may be among the homeowners looking to make upgrades for yourself and to increase the value of your home. According to HomeLight, “Renovations have become more important to homeowners looking to upgrade their living conditions without the need to buy a new home and risk higher mortgage rates.”
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In fact, in HomeLight’s survey, nearly half (49%) of top agents said homeowners are upgrading key rooms such as kitchens and bathrooms while they wait for interest rates to drop.
If you want to make upgrades, here are four that will increase your home’s value by next year.
Spacious Bathrooms
If you’ve started exploring bathroom renovations, you may have noticed a trend to make those rooms feel like spas.
With this in mind, perhaps your upgrades would include spa-like shower heads or soaking tubs. Perhaps additional storage or more vanity space would enhance your bathroom. In addition, one way to increase the value of your home could be to add more square footage to your bathroom.
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Flexible Kitchens
You may want to add more space or new features to your kitchen to increase the value of your home. In fact, according to the HomeLight survey, about 67% of agents said kitchen upgrades will be one of the biggest selling points for buyers this year.
You could consider adding flexible pantry space or multiple sinks. According to Ramsey Solutions, and based on calculations from Remodeling by JLC, the national average return on investment for a major upscale kitchen remodel is nearly 54%.
Functional Layouts
With these upgrades, consider increasing your home’s overall livable square footage. If you can’t add more space, consider reworking the floor plan.
Some areas you could target include standalone kitchens or smaller bathrooms. Not only could you add value by increasing the size of those rooms, but you could also adjust the floor plan to connect the kitchen to other rooms. One additional area to consider here is what to do with an unfinished basement. You could convert it into a livable space to increase the value of your house.
Let’s say you can’t afford to add space to your home but still want to increase its value. Take a look at how you could convert unused spaces. Maybe you have a home office that no longer serves its purpose. One way to increase value is to turn that office space into a bedroom or flex-use space.
Beautiful Outdoor Spaces
Let’s move outside for these next upgrades to increase your home’s value. After all, a buyer’s first impression of your house will be the outside.
Even starting simple can help, such as making sure the lawn looks good, the landscaping is tidy, the garage door looks fresh, and adding some nice lighting.
If you really want to increase your home’s value with outside upgrades, you could add some garden or outdoor space. Maybe a pool or deck will fit nicely with what you already have outside of your home.
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This article originally appeared on GOBankingRates.com: 4 Home Upgrades That Will Increase the Value of Your House By 2025
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