In 2024, the US housing market still favors sellers, with homes commanding prices up to 40% higher than four years ago. Some experts believe the housing market will continue to see rising prices, while others think it’s only a matter of time before prices plummet. But, no matter the state of the economy, all buyers have one thing in mind — to get the most money for their homes.
We spoke to a handful of real estate professionals, including realtors and real estate agents, to get the scoop on the best home improvement projects to boost resale value in 2024. Whether you’re planning your next project or considering selling soon, here’s what they recommend.
Opt for Timeless Elements and Neutral Kitchen Colors
It’s a well-known fact that kitchens and bathrooms sell a house. According to Arizona-based Realtor Jennifer Barney of North & Co., opting for timeless elements like neutral colors and high-quality, durable finishes is the way to go.
She also offers advice to those not ready or able to do a complete kitchen remodel, “Upgrade cabinet hardware, install a modern backsplash, or replace outdated lighting fixtures for a budget-friendly refresh.”
Reface Kitchen and Bathroom Cabinets
A full-out remodel is not always the best route to go. If your cabinet boxes are in good condition, you can give your kitchen or bathroom a budget-friendly makeover by replacing the door and cabinet fronts only. “I have had clients reface kitchen cabinets instead of replacing them. There is a huge cost savings with that and the kitchen looks brand new,” says California-based realtor Michelle Accetta.
She’s also worked with clients to repaint cabinetry and add new hardware for an updated look.
Smart Home Upgrades are Attractive Selling Features
Sometimes, the little upgrades set a home apart from its competition.
Matt Stigliano, a Real Estate Broker representing McNair Custom Homes, says, “As for smaller projects, I’ve noticed a rising trend in smart home upgrades. Buyers appreciate homes wired with thoughtful technology that integrates smoothly with their lives – be it a Nest thermostat, smart security systems, or under-cabinet lighting that can be controlled with a smartphone.”
Invest in Landscaping —Curb Appeal Still Matters
Curb appeal is the impression a buyer gets when viewing your home from the street or driveway. The more aesthetically pleasing your home is, the greater its curb appeal.
Realtor and managing member of Halo Homebuyers, Jonathan Faccone, advises sellers to focus on landscaping. Some of his budget-friendly suggestions include adding a new doormat, stylish outdoor furniture, and new lighting to spruce up the front porch. “I always recommend my clients invest in landscaping, refreshing the existing one, updating the exterior paint color, and investing in outdoor living spaces such as a deck or patio. These small projects make a big difference and significantly increase the overall value of a home,” he adds.
Energy-Efficient and “Green” Updates are Popular
According to Anna D. Smith, founder-owner of Anna D. Smith Fine Art and Real Estate Broker, green updates that increase a home’s energy efficiency are must-haves in today’s market. “Solar panels, energy-efficient windows, and smart thermostats are not only good for the planet, but they also translate to lower utility bills, a major selling point for today’s buyers.”
Even if you’re not ready to sell, these types of updates can increase your home’s energy efficiency and put you in a good place when you are prepared to list.
Homes Offices are a Hit with the Work-from-Home Crowd
As more of the workforce joins the work-from-home movement, even if only part-time, the need for home offices has risen. “Incorporating flexible living spaces that cater to modern lifestyles is a valuable consideration,” says Rick Gruebele of Visions First Realty, LLC. “Open floor plans, multi-functional rooms, or the addition of a home office space can appeal to a broad range of buyers, especially those adapting to remote work trends.”
While adding an office addition to the home might not be the best ROI, showcasing a place for a workstation is, even if that’s in a multipurpose room.
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