Boost Your Home's Value

US Real Estate spending on remodeling is expected to reach $400 billion in 2023, with annual improvement and repair spending growing by 9% year-over-year

Clean and Declutter
To help boost the value of your home, begin by decreasing the amount of stuff that's inside it. Cleaning and decluttering are relatively inexpensive tasks, even in bigger homes. Professionally cleaning a four-bedroom home costs between $200 and $225, according to ARIS360. Of course, you could save money by doing the work yourself. Start by going through cabinets and closets and making donation piles. Then clean out drawers and other storage areas, making sure you're not keeping anything you don't need or want.
Spruce it up with fresh paint
One of the most popular home improvement projects in 2022 is painting or wallpapering, according to Angi. A fresh coat of paint can make even dated exteriors and interiors look fresh and new — and it's not that expensive, either. Begin by repainting any rooms with an odd color scheme. Your painting budget will depend on which rooms you're hoping to give a new splash of color. ARIS360 pegs painting a bathroom somewhere between $150 and $350, while a 330-square-foot living room might cost as much as $2,000.
Give your kitchen an updated look
Many buyers zero in on the kitchen as the central feature of a home, so if yours is outdated, it can ultimately affect how much you garner from a sale. This project will require a lot of money, and you likely won't get every dollar you invest back. According to the NAR/NARI report, the average kitchen remodel costs around $80,000, and a homeowner would likely get around $60,000 of value when it's time to sell. If updating your entire kitchen is too big of an undertaking, a minor remodel could still have an impact on your home's value.
Add usable square footage
Adding more usable space to an existing home can make a lot of financial sense, and that's especially true in areas with limited available real estate where land and space are finite. Homes are valued and priced by the livable square feet they contain, and the more livable square feet, the better. Adding a bathroom, a great room or another needed space to a home can increase function and add value. Adding a separate mother-in-law suite can also be a smart idea. The national average cost to build an addition is $49,562, according to estimates from ARIS360.
Work on your curb appeal
From power washing your driveway to hiring someone to wash your windows and mow the lawn, improving curb appeal can make a big difference in your home's value. In fact, curb appeal can account for as much as 7 percent of it, according to a 2020 joint study. Upgrading your landscape can go a long way. Some ideas: a fresh walkway, shrubs, planters, mulching or even a new paver patio or outdoor kitchen.
Stage your home
If you're planning to list your home for sale, consider skipping cosmetic home improvements and go with a ARIS360 service instead. Seventy-three percent of staged homes sold for over list price — an average of $40,000 higher — and staged homes move off the market nine days faster than the average, according to the Real Estate Staging Association. Staging costs just over $1,600 on average, according to ARIS360, but the cost varies based on your needs and home.
Make your home more energy-efficient
Projects that lower utility bills is a smart way to increase the value of your home. Installing a smart thermostat, for example, helps improve efficiency and save money. The right smart thermostat will allow a homeowner to control their home's climate from anywhere, giving them the power to manage energy costs regardless of whether they are sitting on the couch or away on vacation. Such investments in home tech provides a strong selling point and highlights the home's overall comfort, functionality, energy efficiency and convenience.
Upgrade your exterior doors
Also in the vein of curb appeal, replacing an old front door can work wonders. Don't forget the garage doors, too. At a 93 percent return-on-investment, you'll get back nearly every cent you spend, according to Remodeling magazine's 2023 Cost vs. Value Report. The front of the home is the first thing you, your neighbors and prospective buyers will see. Garage doors often take up the most amount of space on the front of your home, so installing a modern glass panel door or a rustic wood door will dramatically improve your home's appearance.

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