Renovation

How To Plan a Home Renovation Project To Boost Property Value

November 7, 2023
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As communities age, so do the homes; the earliest-built houses are decades older than the newest ones. These houses are still valuable and are often quite desirable. Renovations are a must for a home to remain welcoming and provide a high quality of life.

For homeowners, this is an excellent opportunity to increase your home's beauty, quality, and overall property value. If you're planning to renovate to boost the value of your home, it's best to start with a clear strategy for achieving your goals. In many cases, a skilled real estate team like the Wall Team Realty Associates can share insights on the latest residential trends and renovations to help you efficiently plan a home renovation. We can help you discover how to plan a home renovation project that will provide long-term benefits.

Which renovations will increase a home's value?

What kind of renovations can increase the value of your home? There are several categories to choose from. The most profitable and cost-effective renovations always transform an outdated or damaged space into a charming, modernized room. The best example would be renovating a small bathroom with cracked fixtures and old tile into a fresh personal oasis.

Small touches such as molding, fresh paint, and restoring old features are also likely to increase property value without a large expense. You can also consider updating the kitchen, finishing the attic, or renovating the master suite, but avoid going overboard with any renovation space.

Last, when choosing a home style, prioritize those with broad appeal to potential future buyers since home values largely depend on resale value.

Assess the latest trends in your housing market

Another essential element of a profitable renovation is current trends. For example, the early 2020s favored the "greige" trend of warm grays in different tones combined with bright accent walls. Recent trends favor bolder colors and subtle dusty shades. Smart home features are a popular trend, as are built-in cabinetry and integral home office designs.

However, trends also vary by location. It can be helpful to check with your real estate agent for advice on the home features, colors, and styles that are topping the charts for home sales this year.

Take care of household repairs

When planning a renovation focusing on home value, always start with repairs. Fix that creaky stair step and have your slow drains professionally cleared. If there's a door handle that rattles, tighten it. If there's rust on the fixtures, polish it away. Loose gutters, scratched wood floors, and cracked tiles are all candidates for home updates. Each repair will subtly increase your home's beauty and quality, restoring its value after years of lively family activity.

If you're interested in a more extensive renovation, add these repairs to your to-do list while there's a crew working on major features and replacing fixtures. This way, you can take care of wear and tear and update your space simultaneously.

Restore beautiful features that have lost quality

Restorations are also an excellent way to breathe new life into your home and increase property value. If you have beautiful light fixtures, for example, that have become tarnished or the old finish is flaking off, you don't have to replace them. Instead, have the light fixtures restored with a new finish and smart bulbs to modernize the home while keeping its original charm.

If built-in wood features like shelves or molding have become scuffed over time, have them sanded and re-stained or painted. Brick restoration specialists can restore your fireplace and chimney to historic glory, and even fixtures too old to be restored can be replaced with gleaming new replicas.

Invest in energy-efficient upgrades

If you want to subtly increase the home's quality and value, focus on energy efficiency. Replace your exterior doors with new foam-core doors with fresh, heavy-duty weatherstripping. Install new vinyl-frame windows with impact-resistant glass. Gas-sealed double-paned windows aren't just for cold climates, either. They're also great at keeping out the summer heat.

Here in DFW, planting shade trees and installing a shady wrap-around deck can also improve energy efficiency by keeping the sun off the house.

Update your most outdated rooms and appliances

Choose the most worn sections of the house or spaces decorated in a dated fashion to upgrade. Kitchens that are now too kitschy or bedrooms with crunchy old wall-to-wall carpet are prime candidates for a renovation makeover. Reimagine each space with modern trends, features, and fixtures.

You should also focus on old appliances that are likely due for replacement. This is a great way to improve your home's quality and energy efficiency (and even water conservation). Most people jump straight to updating kitchen appliances like the stove or dishwasher. But don't forget that your water heater and HVAC are just as important.

Choose a few on-trend upgrades

Once you've researched trending renovations and home features, choose a few that beautifully suit your home. Possible upgrades include adding luxury spa features to the master bathroom, installing stylish countertops and backsplashes, or building a relaxing deck for outdoor living. These trends are hot because they make a home more delightful for the current residents and future homeowners.

Be sure to strategize with your designers, contractors, and real estate agents to choose on-trend yet timeless upgrades that any resident could love, no matter their personal style.

Enhance your details with molding and lighting

Whether you're going big or looking for a few ways to touch up your home, molding and lighting are an excellent choice. You can buy yards and yards of beautiful crown molding, chair rails, and footboards that will enhance any room with subtle elegance. Molding can enhance public and private spaces, adding personality to architectural features.

With strip lighting now so easy to install, molding installation is also the perfect opportunity to introduce smart ambient lighting through classic trough lighting design. In other words, embed an LED light strip behind a row of molding for a beautifully obscured glow in any room.

Finish the space with a fashionable paint palette

The final touch for any home renovation is a fresh coat of paint. Work with a designer to discover the perfect color palette to bring your home's features to life. The most dynamic look is a subtle change in color, sharing a similar shade throughout the house, with the occasional accent wall or painted furniture. Accentuate architectural features with paint and create a blank slate for future homeowners.

Improving your home's position on the housing market

If you are preparing to sell your home in the DFW housing market, The Wall Team Realty Associates can help. Whether you're looking into listing a home as is or you're researching how to plan a home renovation project to boost your profits, our experts have an eye for design and real estate trends. Contact us to learn more.

*Header photo courtesy of Shutterstock



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