How To Increase Your Home’s Value With Renovations In 2024

The housing market has experienced many ups and downs in recent years. While home prices stayed high through 2024, rising loan rates and worries about inflation have lessened buyers’ interest. For homeowners wanting to increase their property’s worth, concentrating renovations on innovative improvements can help attract buyers and provide a good return. 

This article will examine five important renovation things homeowners should consider for 2024.

1. Outdoor Living Spaces

Outdoor renovations allow owners to extend living space outside where natural light and fresh air abound. For starters, build or expand existing wooden decks spanning the rear facade. Equip decks with railing, ceiling lighting, and built-in seating areas to create dedicated outdoor rooms. Next, install a medium to large paver patio extending from the deck’s stairs for additional gathering and grilling space.

To complete the oasis, landscape attractively with trees, shrubs, flowers, and lighting to highlight focal points and pathways. Staining or painting the deck prevents future repairs while retaining aesthetics. Artificial turf provides low-maintenance yard areas that withstand foot traffic.

Large aluminum sliding patio glass doors are another inclusion in outdoor living spaces. They replace outdated exterior doors, expanding indoor-outdoor flow while admitting ample natural light. Compared to wood doors, sliding glass requires little maintenance and immediately improves curb appeal.

Large sliding glass doors offer impactful value at a reasonable cost. Installing smart sliding doors that can be opened and closed remotely through an app or voice assistant takes the convenience even further. Homeowners will enjoy the seamless transition between indoor and outdoor space, while buyers will appreciate the modern upgrade.

2. Smart Home Technology

One upgrade a smart home can bring is the addition of functionality and appeal. Most devices include smart switches, thermostats, security cameras, and audio systems, which can be managed remotely through an application or voice. In earlier times, generally, all innovative property features were considered luxury, but now they are mainstream.

For a 2024 renovation, the focus is on a smart home rehaul: incorporating innovative capabilities into every nook and cranny of the house by fitting in a hub and wiring infrastructure. That way, it brings the home to life and makes it appealing to the technology-savvy homebuyer. Another smart update is the addition of automated control for lighting in different zones. For example, in living zones, kitchens, and bathrooms, where dimmable hubs are connected to the central power, one can easily change settings remotely regarding brightness or ambiance.

3. Energy Efficiency

Prioritizing energy efficiency adds value sensibly. Updating insulation, HVAC systems, windows, appliances, and lighting with energy-star-rated options reduces homeowners’ long-term utility bills. This also appeals to savvy buyers with an environmental conscience looking for smart homes. Efficiency renovations lead to lower energy costs, which are expected to rise further due to inflation. They deliver financial benefits.

An affordable project that would change homes’ energy use is adding insulation to walls and attics. Fiberglass batt or blown cellulose insulation can be used, and with such a significant effect, heating and cooling will be much more efficient. New windows with insulated glasses can also cut heating and cooling costs. Upgrading to a high-efficiency HVAC system, such as a heat pump, pays for itself over time in utility bill savings.

4. Kitchen Remodel

The kitchen is often the central spot where families gather in homes. Remodeling upgrades this important space functionally and visually. Focus on improving the layout to make things flow better when cooking. Install long-lasting stainless steel appliances from quality brands like Bosch or Thermador.

Quartz or granite countertops look luxurious and hold up well, while refreshed cabinets in on-trend shaker, flat, or glass styles add visual appeal. New lighting, patterned backsplashes, and high-quality sink fixtures finish the transformation. A kitchen remodel is an intelligent financial choice because buyers care a lot about how the heart of the home looks.

For an even bigger updating project, consider opening the kitchen space by removing non-essential walls to connect a dining or family room. This enhances livability by blending the main floor into one awesome area for various uses. Home designs that combine functions are highly thought of in today’s market. Extended kitchen overhauls lead to getting cash back on your investment.

5. Bathroom Upgrades

Like the kitchen, bathrooms impact value significantly. Consider re-tiling floors and walls, installing new vanities and lighting, updating fixtures and hardware, and replacing toilets. Add walk-in showers or soaking tubs to the primary bath for high-return areas. Contemporary materials like stone, glass, and tile exude luxury.

Beyond cosmetic facelifts, function-focused bathroom renovations have served homeowners for years. Replacing a shower-tub combo with a spacious walk-in shower allows comfortable bathing. Soaking tubs provides relaxation. Dual sink vanities give couples and families more usable counter space. Upgraded toilets are efficient and hygienic. While materials require greater upfront investment compared to basic remodels, “bathrobes” increase livability and appeal to broad demographics. Quality bathroom upgrades establish long-term value.

Home Renovations to Increase Value in 2024

By focusing 2024 renovations on smart technology integrations, energy savings tactics, kitchen and bathroom updates, and expanding outdoor living space, homeowners can maximize their property’s value through multi-tiered improvements. Strategic upgrades recoup costs when selling while reducing household bills and increasing enjoyment for owners for years to come.

With careful planning, savvy renovations can help properties weather ongoing market changes and enable those who undertake them to build wealth long-term in their biggest single asset – their home. Investing wisely in one’s shelter pays dividends both financially and in quality of life.