Good Bones Shares Which Renovations Will Add Value To Your Home
Mother-daughter duo Mina Starsiak Hawk and Karen Laine can spot a home with potential in an instant. The pair know how to transform a home that once looked like it was on its last legs into one that's updated to be not only structurally sound but also stylish. But since they also renovate the homes to sell, the pair also choose their projects carefully in order to add value.
The value of a home is important whether you're trying to buy or sell a house. Home value can influence refinancing options, insurance premiums, lines of credit for future homes, and even your property taxes, says Nerd Wallet. If you're trying to buy a house, knowing the home value can help ensure you're not paying too much. And if you're trying to sell your home, home value can increase the listing price but also ensure the house is priced appropriately so you wouldn't have to lower it.
But not every home project will increase the value. Nolo states that some luxury upgrades, including swimming pools, can decrease a home's value, while kitchens and outdoor improvements are two areas where you can make an impact on the home value. These two areas are often where Starsiak Hawk and Laine focus their renovation efforts to add value to the homes they plan to sell.
A neutral exterior
Many people want to focus on interior projects, but the exterior of a home shouldn't be left behind. A home's exterior is like a first impression and can make a huge difference when it's done well. Whether you're looking to sell your home or stay there and build equity, Mina Starsiak Hawk and Karen Laine always suggest investing in the exterior. On average, exterior house painting costs about $5,362, according to Fixr, with an average cost per square foot between $1.50 and $4. Of course, the condition of the home, location, and size will all impact the final cost.
Neutral home exteriors will attract the most buyers. Black, white, and gray pair well with most home styles and won't put off potential buyers who aren't looking for large home projects. But many homeowners are also embracing more color in the home, in general. For those who want to add color to the exterior of the home while keeping it mostly neutral, painting the front door can be a great option. But many homeowners also love muted colors in place of neutrals. Muted greens and blues are becoming more popular because they're neutral-adjacent. These shades aren't too bold, but they also provide some color if a black and white color scheme isn't your taste.
A kitchen island
Another place to spend some time and money to increase home value is in the kitchen. These are one of the busiest rooms in the house, often having traffic all throughout the day. The kitchen is also a space that needs to be as functional as it is beautiful, which is why many homeowners see this as a top priority when it comes to upgrading their space. Many of the must-haves that homeowners and experts list for the kitchen have to do with wanting more storage and workspace. Kitchen islands provide both.
Mina Starsiak Hawk and Karen Lane insist on having a kitchen island if the space allows for it. Not only do kitchen islands increase counter and prep spaces as well as storage, but an island can also provide seating in the kitchen, says Francini Inc. In smaller kitchens, a long, thin island might be a solution. Islands with sinks and cooktops can also make them more useful and make them feel better incorporated into the kitchen design.