What brings up the value of a house?

By JC Densing | October 5, 2022 |

Top 5 Projects That Add the Most Dollar Value to a Sale

Homeowners are always looking for ways to add value to their home. Whether you’re planning to sell in the near future or you just want to make some updates for your own enjoyment, it’s important to choose projects that will actually increase the resale value of your home. The National Association of Realtors (NAR) and the National Association of the Remodeling Industry (NARI) recently released a joint report outlining the top five projects that are most likely to increase the dollar value of a sale in 2022. Keep reading to learn more about these home improvement projects and how they can benefit you.

1. Refinishing Hardwood Floors: Hardwood floors are a classic feature that never go out of style. If your home has hardwood floors that are beginning to show signs of wear, consider refinishing them. This project entails sanding down the existing floors and applying a new finish. While it’s not a quick or easy project, it’s one that is sure to pay off in terms of resale value.

2. Installing New Wood Floors: If your home doesn’t have hardwood floors, now might be the time to install them. Wood floors are an increasingly popular feature in homes and can really add to the overall aesthetic. They’re also relatively easy to maintain, which is an important consideration for potential buyers.

3. Upgrading Insulation: Making sure your home is well-insulated is not only good for energy efficiency, but it can also add value to your home. Poor insulation can make a home feel drafty and uncomfortable, so upgrading insulation is sure to be appreciated by potential buyers.

4. Converting a Basement into a Living Area: A finished basement is a great way to add extra living space to your home without having to build an addition. If you have an unfinished basement, consider finishing it and adding some amenities like carpeting, drywall, and recessed lighting. Doing so will undoubtedly increase the resale value of your home.

5. Renovating Closets: Many homeowners overlook the importance of having functional, well-designed closets. However, closets are one of the first places potential buyers look when touring a home. If your closets are cluttered or poorly designed, renovating them is a great way to add value to your home. Something as simple as adding shelves or drawers can make all the difference in terms of appeal and functionality.

These are just a few of the projects that are most likely to increase the dollar value of a sale in 2022. When choosing home improvement projects, it’s important to consider both your needs and desires as well as what potential buyers are looking for in a home. By making even one of these improvements, you’re sure to add value to your home and make it more appealing to buyers down the line.