I’m a Real Estate Agent: Here Are 5 Renovations That Will Boost Your Home Value Over the Next 5 Years

SolisImages / iStock.com
SolisImages / iStock.com

When you begin your life in a new home, you’re likely focused on the memories you’ll be making inside its walls. The opportunities to connect more deeply with friends and family help define any space. Of course, details like a spacious bathroom and beautifully decorated living room add to the ambiance.

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Creating a home that feels luxurious and modern doesn’t just help make more memories in high definition, it’s also essential to boosting your home’s value. According to real estate experts, there are certain renovations and improvements that will help make your home more attractive to buyers — sometimes to the tune of tens of thousands of dollars

GOBankingRates talked to Theresa Wellman, a licensed realtor and real estate advisor, as well as the team lead for Homeowner Experience, to get a better understanding of the renovations you should start planning for to help you increase the value of your home within the next five years.

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Adding an Extra Bedroom

According to Wellman, one of the most effective renovations you can make is adding an extra bedroom. She said that this choice can be especially impactful if it turns a two-bedroom house into a three-bedroom house.

Depending on the market, this renovation can do more than open up the space in your house, creating a temporary home office or allowing one of your kids to hop off the bunk bed and claim a bedroom of their own. Wellman suggested that it could increase your home’s value between $30,000 and $50,000.

Remodeling Your Kitchen

Whether you’re a passionate foodie or more likely to open DoorDash on a paper plate, you should still consider a kitchen remodel as a great investment in your home’s future value.

Wellman said that updating countertops, cabinets and appliances can modernize your home and up its appeal to buyers.

“I’ve seen clients boost their home’s value by $20,000 to $40,000 with a well-done kitchen remodel,” she added.

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Renovating Your Bathroom

Making your bathroom space more spacious and luxurious can do more than entice you to take more bubble baths (though that is a nice perk), it can also bring a high return on investment. Wellman suggested that your efforts focus on modern fixtures, good lighting and quality materials.

“Adding a new bathroom or updating an existing one can add $15,000 to $30,000 to your home’s value,” she said.

Replacing Your Roof

It goes without saying that you want a sturdy roof over your head. So do prospective buyers down the line, which is why Wellman suggested that while replacing your roof is a significant renovation, it can “add value and peace of mind for buyers.”

She shared that a new roof could add roughly $10,000 to $20,000 to your home’s value, depending on the size and materials.

Upgrading Your Energy Efficiency

Wellman shared that taking steps to improve your home’s energy efficiency, like installing new windows, better insulation or even a new HVAC system can not only attract eco-conscious buyers, it can also increase your home’s value between $10,000 to $25,000.

“I always recommend focusing on improvements that lower utility costs and enhance comfort,” she said.

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This article originally appeared on GOBankingRates.com: I’m a Real Estate Agent: Here Are 5 Renovations That Will Boost Your Home Value Over the Next 5 Years