2023 Trending Home Updates That Will Increase The Value Of Your Home
Whether you’re in the market to sell your home, or simply remodel it to remain relevant, there are a few remodel trends that produce stellar ROI. Sprucing up your basement, for instance, can add another $15,000 to $20,000 to the value of your home and it can boost your property on the trending radar. While a simple lick of paint and a change of lightbulbs can make a ton of difference, some remodels need a little bit more to garner the attention of a property valuator or potential buyer, especially those who are looking for the latest in home decor and design. Take it section by section to get the most out of one of your biggest assets.
It’s All About Cabinetry
If you’re unsure where to start with you remodel, it helps to know that around 80% of homebuyers list the kitchen as their most important must-have in their next property. It also happens to at the heart of trending home remodels for 2020. While 2019 was the year for a top-deck style color palette, 2020 will see three-toned kitchens bring in an element of fun. While kitchen remodels can cost anywhere upwards of $64,000, minor renovations could be done for as little as $21,000. Thankfully, the price ticket on an update can be kept to a minimum by refacing existing cabinetry and introducing that third color with a simple paint update in key areas. The ROI on a kitchen can range anywhere from 54% to 93%, which places it right at the top of the list, so if trending is a must-have in your home reno, the kitchen is the place to start.
Choosing an Adventurous Backsplash
While cabinetry and countertops often take center stage in a kitchen, walls are finally owning up to their full potential. A creative backsplash should provide the homeowner with a sense of belonging, whether it’s an expansive piece of granite that creates a focal point or an interesting design detail that ties the kitchen together. The backsplash is no longer relegated to the bottom of the design list where it needs to be satisfied with a stock standard mosaic design that’s copy-pasted into every other home in the area. 2020 is the year where “unique” is finally trending. Because it’s still part of the kitchen, it should also add some brownie points to ROI.
If You’re Willing To Splash Some Cash…
Multifunctional spaces are a must-have for 2020, and if you happen to live in a space that’s closed off, it might be time to bring out the checkbook. Construction experts at mangumbuilders.com affirm bigger renovations such as raising the roofline, moving walls to change the layout of a room, and updating older homes to reflect a more modern design can make a substantial difference to a potential buyer’s perception of the property. While a major remodel such as this can really open up a space and do much in terms of staying on trend, it’s important to keep the costs at a reasonable level to enjoy the potential ROI.
One-Off Changes That Stand The Test Of Time
When it comes to renovating for maximum ROI and to stay on trend, it’s important to pick items that will remain fashionable long after a trend has passed. Simple items such as changing retro seventies carpets for hardwood floors, changing up kitchen cabinetry, and updating faucets and lighting can make a difference and won’t need an update for a long time. While paint may need a refresh every few years and furniture may need to be swopped out from time to time, staples can stretch those dollars.
Home renovations to keep up with trends should be an exciting event for homeowners and by knowing which areas can generate the best ROI, a refreshed look can also be a good investment.