Home Depot Reveals 10 Renovations That Will Increase Your Home's Value in 2024

The housing market is finally starting to loosen up a little in 2024. But if you’re looking to get the most value out of your home before putting it on the market, you might want to consider a remodel.

Home Depot has released a report covering the top 10 ways of remodeling your home that will give you the best return on investment. These remodels aren’t just for sellers; some will quickly increase your home’s value while others will give you a great return on the original renovation cost over time.

Here are all the spaces you should be looking at upgrading to give your house its most functional makeover ever.

Bathroom

It’s probably no surprise that the bathroom ranks number one on the remodel list for adding value to a home. It’s easy to tell if a bathroom is outdated whether that’s because of the layout or just old fixtures.

Although updating a bathroom isn’t always a difficult fix, it’s not necessarily something home buyers will be looking to add to their to-do list after moving in. 

Home Depot says that upgrading the vanity is an essential requirement, along with bathroom sinks and showers. Storage is another major function that can add value (even if you’re just adding a few simple storage solutions to a small bathroom).

Don’t underestimate the power of new fixtures and paint, either—these updates are quick and easy but will add a modern feel to your bathroom.

Carpeting

Updating the carpet before you move is a great way of increasing the value of your home—especially if you’ve already moved your things out. Home Depot specifies that your carpet might not look outdated, but that it could still need replacing.

Even newer carpets might be showing signs of age—if your household floors are prone to spills, pet hair, and general wear and tear, you’re not alone; but it’s probably best to replace the carpet before moving out to avoid losing some of your home’s value. 

If your carpet is more than ten years old, Home Depot recommends swapping it out. Updating to a more modern carpet style is always a good option; if your issue is that your carpet is uneven or lifting, you can have a professional secure your carpet without having to replace it entirely.

Cabinet Upgrades

Replacing home cabinets (especially in your kitchen) is a major part of many home remodels, with cabinet upgrades ranking high on the list for buyers and sellers alike. Remodelers who aren’t planning on selling their home also turn to cabinet upgrades to freshen up their spaces; it’s a relatively easy and inexpensive upgrade that completely changes the feel of a room.

Warm, exposed wood and white cabinets are trending right now for the most modern, elegant feel that will match any kitchen aesthetic. Home Depot also suggests adding in some new backsplash while you’re planning your cabinet remodel.

These extra upgrades are easy to complete together and will help your space feel more cohesive.

Countertops

Countertops are an integral part of any major kitchen or bathroom upgrade; if you’re planning on a bigger home renovation project, you should consider updating your countertops.

And yes, the big two countertops of choice are still granite and quartz this year. They’re sturdy and stylish, making them the go-to choice for a practical and aesthetic kitchen. Generally, white countertops are still placed highest for the most desirable countertop colors.

Windows

Windows might not be on your home remodel checklist right now—after all, they’re not the first thing most people would think of when they think of home decorating. But if you’re planning on selling, Home Depot says that this update can return up to 70% of your investment.

And if you’re sticking around for a while, you’ll save on energy costs. That’s because Home Depot recommends swapping your double-hung windows with insulated simulated-divided-light windows.

Here’s your quick window crash course: Home Depot’s report says that windows with muntins (the wood or vinyl bars that run across certain window styles—think French door) are going to get you a higher return on your investment.

In a traditional window with muntins, the panes of glass will be secured in place by the wood frames. But if you don’t already have these windows in your home, updating to this style can be expensive.

To help conserve energy in your home and give your space an upgrade, you should opt for simulated-divided-light windows. This means that the muntin is just for decoration; it’s only placed on the outside of your window rather than in between sheets of glass. It’s cheaper, more energy-efficient, and looks better.

Fencing

Fencing is another easy upgrade you can give your backyard to boost your home’s value. Updating old fencing to make sure it looks and feels secure is an important step before putting it on the market; this helps buyers feel that the backyard is more private and protected against potential wildlife. 

If you don’t have a fence, should you add one? The answer is that it depends on your space. If you’re running adjacent to neighbors’ properties, it’s possible your buyers would prefer a private yard. But if your lack of fencing is because you’re near a woods or empty lot, buyers may not mind that your yard isn’t fenced in.

Hedging can also be a natural privacy shield that will help buyers forget about your lack of fencing (unless all of your potential buyers have pets, that is).

Water Treatment

This is another fun home renovation item that not many people would put at the top of their to-do list, but it actually ranks at number seven on Home Depot’s report in terms of adding value to the home.

Although buyers probably won’t be tasting samples of your tap water while viewing your home, water treatment is a great selling point for you or your realtor to mention; it’s a treatment that shows your home is upgraded beyond just the visible aspects.

Water Heaters

Planning to stick around for a while? Home Depot says hybrid heat pumps could save up to $3,000 over a decade just based on how much energy they save. If you’re selling, tankless water heaters will help your home sell for 4% more on average according to Home Depot. That’s a huge bonus for sellers, buyers, and home remodelers alike.

HVAC

If you’re remodeling and not planning on selling just yet, an HVAC is a remodel that will pay for itself over time according to Home Depot.

The amount of energy it saves within five to 10 years will pay for the brand new HVAC system you purchased, says Home Depot’s report—and if you continue keeping up with HVAC maintenance, it will only save you more energy (and money). Don’t underestimate the power of a well-functioning HVAC, even if you’re planning on selling your home.

Garage Doors

Last on the top ten remodel list is updating your home’s garage doors. Home Depot estimates that a garage door remodel will make 103% of its value back in a home sale. If your garage door is visibly damaged, you should opt for a replacement to impress your buyers; the same goes for if your garage door is undamaged but looking outdated. 

Home Depot highly recommends frosted glass windows to give your garage door a maximally modern feel; raised paneling on a garage door is another timeless yet modern addition to a garage door that can help boost its value.

Updated garage doors will give a lot back to your home value simply because they’re one of the first things a potential buyer will see when walking outside of your home; they also add a practical yet modern upgrade to your house.

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Read the original article on The Spruce.