Americans spent nearly $340 billion in 2018 to upgrade or to patch up their homes. This is 7% more than the year before.

With the rise of popular home renovation shows on HGTV, it’s no wonder that people are seeing the possibilities home renovations can bring.

But every dollar spent is not a dollar of value added. Some areas of the house appreciate more than others.

Read on for the top 5 renovation projects that will boost the value of your home.

1. Focus on the Kitchen

If you do just one thing in terms of home renovation, tackle on the kitchen. If you are wondering what home improvements ad the most value, this is it.

The kitchen is the heart of the home and the first place where you should spend your reno budget. An updated kitchen can make the difference between getting an offer from potential homebuyers or not.

Kitchens are an area where you can likely get more than 100% return on your investment. Though it is an area where it is easy to spend a lot to renovate, it generally pays off.

Cosmetic fixes such as replacing cupboard doors and repainting the kitchen can enhance the aesthetic of the home.

Besides, if you are not selling in the immediate future, you will get a lot of enjoyment out of your renovated space.

It’s in your best interest to choose elements that are modern without being trendy. Certain trends go in and out of style fairly quickly. So your subway tiles may look dated in 5-10 years.

Classic, timeless choices are always popular. Granite countertops, high-efficiency brand-name appliances, and sleek finishes are good investments.

A new faucet can totally transform the look of your sink without having to replace the sink. Unless of course, the sink is in bad shape.

If it’s time to get new appliances, opt for high-efficiency models from companies like Electrolux.

If you don’t have the budget to install new cabinets, change the doors. If you can’t afford new cabinet doors, fix any cracks and re-paint them. You can add new hardware for a fresh, new look in your kitchen.

Check out 10 simple ways you can renovate your home without breaking the bank.

2. Update the Bathroom

Besides the kitchen, bathrooms are the best place to invest home renovation money.

You can add value to your house by renovating the sink and the shower. These are the two focal points in a bathroom. You can get a new vanity for a decent price at most home improvement retailers.

Any renos in the bathroom should work to make the space look clean and fresh. The shower tiles are a telltale sign of an outdated house.

You can remove the existing shower/bath combo and put in a sleek, shower unit. They come ready to be installed and are easy to clean. Check out local reliable companies for everything you need to remodel your home.

Even if your bathroom space is minimal, these two features will make the room look brand new. Small updates like new fixtures and a new mirror can also add a lot of value.

3. Finish an Unfinished Space

One of the best ways to increase your home’s value is to make each space functional and finished.

If you have an unfinished basement, make the space habitable by finishing it. Add drywall, potlights and a drop ceiling.

This is the least expensive way to add square footage to your home. Adding on an extension, a covered porch or sunroom are very expensive.

Finishing your basement creates usable space that is pleasing to look at. And when it comes time to sell, you will be able to list for quite a bit higher.

4. Add an extra Bedroom

Adding an additional bedroom can add an extra 10-15% value to your home.

If you have a 3-bedroom home and convert it to a 4-bedroom, your house moves up into the next price bracket. If you have space in the basement, add a spare room there.

You can also consider splitting a large bedroom into two. Or if your garage is seldom used, you can repurpose it for a bedroom. Just make sure to follow the municipal code.

Consider adding skylights or other elements to make the room feel harmonious with the rest of the house.

5. Exterior Renovation Projects

They say you can only make a first impression once. You can spruce up your curb appeal by paying attention to the exterior details of your home.

Landscaping is a million dollar business for a reason. You can turn your outdoor area into a livable space that people will want to spend time in.

A little bit of effort goes a long way. A freshly painted or new front door, updated house number, and mailbox will give your house a facelift.

Add a bed of flowers, new bushes or a garden path. A few potted plants at the top of your driveway can make the home seem well-tended.

Tackle the weeds and put down fresh sod for a manicured front lawn.

For house listings, the first picture must be one of the exteriors of the house. When it is time to sell your property, some homebuyers may be put off by the shabby look of the outside.

Even if the interior is immaculate, it may not be enough to convince some shoppers to give your home a try. Also, making a negative first impression lowers the price they feel they should pay. You may get some low offers as a result.

Instead, make your exterior a snapshot of what is inside. Well-groomed, aesthetically pleasing details will go a long way.

6. The Garage Door

The garage door, like the front door, is the focal point of the front of the house. You should seriously consider replacing it to boost your home’s value.

If you are selling soon, an upscale garage door will pay for itself in the sale of the home. If you plan to stick around for a while, a new garage door will give you better insulation which can lower your energy bill.

Conclusion

We hope you enjoyed reading about the renovation projects that can add a lot of value to your home. Whether you plan to live in the home for years or want to sell right away, the time and money you spend will pay off.

If you’re planning on selling, read 5 reasons why you should not sell it yourself.