“Any changes you make on your house now should increase your home value later,” says Kermit Baker, project director for the Remodeling Futures program at Harvard University. But which projects will increase your home value? We know home remodeling costs can add up. Take a look at this list, starting with the upgrades most likely to recoup your investment, and get ready to appreciate your space more than ever. One note: No home upgrade is going to completely pay for itself. (If it does, you’re one lucky home seller.) With that in mind, make sure you’re picking home improvement projects that will increase your enjoyment of your space—see the opportunity to increase the value of your home as just a bonus. Can’t decide on a color? Gerri Willis, former anchor of Open House on CNN and the author of Home Rich, says that pale yellow homes tend to sell faster and for more money. Barbara Richardson, the director of color marketing for Glidden and a noted color trend forecaster, says, “Yellow is optimistic and inspirational. It gives people joy and the sense that brighter times are ahead.” Discover makes loans without regard to race, color, religion, national origin, sex, disability, or familial status. Sponsored by Discover Personal Loans If you prefer the look of masonry, you’re in luck: The addition of a manufactured stone veneer is even more valuable. The average cost of the upgrade is $9,357, with an average added sale value of $8,943—nearly a 96 percent return on investment, the highest in the 2020 Cost vs. Value Report. Experts suggest using natural, rustic wood. In 2020, wooden decks (as opposed to composite ones) reaped an impressive return on investment: Homeowners who spent an average of $14,360 on lumber and labor could expect to recoup $10,355, or 72 percent of their costs. “People know that renovating can be a nightmare, and potential buyers will appreciate that you did the dirty work for them,” says Vern Yip, a designer and former host of HGTV’s Deserving Design. “But stick with high-quality fixtures, like stainless steel appliances and granite counters, and don’t pair them with a cheaper material, like laminate.” A word of caution: If your house is a tiny two-bedroom bungalow, don’t bother splurging on, say, a high-end stove. “You’ll never get your money back by installing fancy appliances in a smaller home,” says Leslie Sellers, vice president of the Appraisal Institute, an association of real estate–appraisal professionals in Chicago. And if an appliance overhaul isn’t in the cards, “you can easily make cosmetic updates on a kitchen that’s in decent shape,” says Steven D. Bullock, a designer in New York City and a certified member of the National Kitchen & Bath Association, in Hackettstown, N.J. For example, if your existing appliances are in good working order, coat them with electrostatic paint to give them a metallic or enamel-type finish. And you don’t have to rip out your cabinets, either: The 2020 Cost vs. Value Report found that minor kitchen remodels have a higher return on investment than major ones. There’s no need to splurge on fancy fixtures, either. “A tub is a tub. A Jacuzzi will never make or break a sale,” says designer Steven D. Bullock. For quick touch-ups on existing sinks, toilets, and tubs, consider hiring a surface-restoration company that recoats ceramic, porcelain, and fiberglass fixtures so they look like shiny new porcelain. “Don’t be afraid to spend money on perennials, which come back year after year,” says Yip. As for big-ticket investments, like trees, they aren’t just nice to look at; they also stave off erosion, block storm-water runoff, reduce carbon dioxide emissions, and filter groundwater pollutants. They might make your home sell for more money, too. The Arbor Day Foundation estimates a 6- to 8-foot Colorado blue spruce or live oak (both are commonly found all around the United States) may grow one to two feet a year. And properties with gorgeous, established trees are even more attractive to potential home buyers down the road. When determining which areas of your yard to attend to first, try approaching the house from the curb to the front door. “Buyers make their decisions in exactly eight seconds,” says Barbara Corcoran, founder of the Corcoran Group, a Manhattan real estate firm. “After that, they’ve either fallen in love or are just honoring an appointment.” If your basement is prone to flooding, leaks, or excess moisture, call in a pro. If you do want to finish your basement by adding drywall, insulation, laminate flooring, or even a bathroom, “be sure it’s proportional in quality to other areas of your home,” says Lonny Rutherford, a chairman of the National Association of Home Builders Remodelers, in Washington, D.C. According to Sellers. “Basement remodels gain back anywhere from 50 to 100 percent, depending on the quality of the materials.” In more temperate areas, a pool can be a big turnoff, as prospective buyers imagine all the work they’ll have to do to maintain it, not to mention safety issues and higher insurance rates. But if you plan to enjoy a pool for a few years and it improves your quality of life, “then go for it,” says Tom Kraeutler, a co-host of The Money Pit, a home-improvement radio show, and co-author of My Home, My Money Pit. “You can’t put a number on that.”
