The pandemic has proven to be the ideal opportunity for many to start (or finish) household DIY projects or home upgrades. A whopping 76% of homeowners rolled up their sleeves and got to work in 2020 and it appears that 2021 will continue the trend.
But if you’re going to invest in upgrading your property, make sure that you’re making the right choices and picking out updates that will add to the value of your home, to its market desirability and will generate a big return on investment. Here are the 5 home upgrades you don’t want to miss out on in 2021.
After so much time stuck inside, it’s become apparent that buyers value their outdoor space. Backyards, gardens, and assorted outdoor amenities have had a major increase in popularity in 2020-2021, so that’s a sure investment. An outdoor kitchen, grill space, fire pit, or terrace is the ideal upgrade to make right now. Not only will that increase your comfort levels and make for an excellent safe outdoor socializing space, but it will also be a really attractive feature for prospective buyers, when the time comes.
If you’re feeling spendy or want to upgrade to luxury, a hot tub or pool are always big crowd-pleasers and go a long way to making a listing stand out.
One thing to know about the 2021 home buyer is that they are not only prioritizing smart homes, but they are actually willing to pay more for one. A home equipped with smart devices is the home of the future, so anything from smart doorbells to automatic sprinklers and smart Wi-Fi is a great addition to any existing home.
Think about what you would want a home to offer, for comfort and convenience. A smart assistant to look up recipes for you? Smart thermostat that you can adjust without getting up from the couch? Perhaps smart lightbulbs that save energy and leave more cash in your pocket. Any ‘smart’ upgrade is a smart choice.
One upgrade that always makes sense, whether you’re planning on staying in your home for a while or selling, is to add a bathroom. An extra bathroom, especially for homes with no downstairs bathroom or no en-suite, is the single best update you can give your house, and here’s why. Adding a bathroom adds convenience to your existing property, and it automatically adds value – around 20%. It makes financial sense to tear down some walls and turn a guest bedroom into a master en-suite.
Plus, the pandemic has proven that we do need the extra facilities, and that people use them. In the current climate, no one wants to wait around to wash their hands, so making that accessible will please potential buyers. Other add-ons that add value include custom or premium finishes on faucets and the increasingly popular bidet.
One thing that never fails to appreciate in value? Gorgeous hardwood floors. If you’re only going to upgrade one thing about your home in 2021, make it flooring. This is by no means an inexpensive upgrade, but it’s an investment that pays off long-term. It is estimated that 54% of buyers are willing to pay more for hardwood floors, to the tune of an extra $2,080.
If you don’t have them yet, install them – they’re easy to clean and maintain. And if you already have them, then your investment is minimal, and you only need to give them a quick upgrade by refinishing and polishing.
The other big change that’s come out of 2020-2021? The switch to working from home. More and more people are becoming remote workers, and the one thing they are all interested in is a home office. That’s a space most people need right now, but also one that is going to make sense long-term. It’s clear that the permanent remote lifestyle is here to stay, so why not make accommodations for that?
The ideal home office should be set in a room that gets good natural light, but that is in a more remote part of the home. You want this space to be separate, so that you can effectively separate work and home both physically and mentally.
The silver lining in an otherwise terrible time is that the real estate market is thriving, and homeowners are getting busy improving their properties. Whether it’s something simple like refinishing your floors or creating a home office or a bigger undertaking, like adding a bathroom or restyling your backyard, make sure that you’re choosing an upgrade that makes sense for your home and will add value to your property.
Post contributed by Emily Miller
