In 2024, the US housing market still favors sellers, with home prices 40% higher than four years ago. Some experts believe the housing market will see rising prices, while others think it’s only a matter of time before prices drop. But, regardless of the state of the economy, all shoppers have one thing in mind—To Get the most money for their home.
We spoke to a handful of real estate professionals, including realtors and real estate agents, to get the scoop on the best home improvement projects to boost resale value in 2024. Whether you’re planning your next project or considering selling soon, here are what they recommend
Choose timeless materials and neutral kitchen colors
It’s a well-known fact that kitchens and bathrooms sell a home. According to the Arizona-based realtor Jennifer Burney of North & Company., choosing timeless elements like neutral colors and high-quality, durable finishes is the way to go.
She also advises people who aren’t ready or able to remodel an entire kitchen, “upgrade cabinet hardware, install a modern backsplash, or replace old light fixtures for a budget-friendly refresh.”
Reface of kitchen and bathroom cabinets
A full-out rebuild isn’t always the best way to go. If your cabinet boxes are in good shape, you can give your kitchen or bathroom a budget-friendly makeover by simply replacing the doors and cabinet fronts. “I’ve had clients reface kitchen cabinets instead of replacing them. It comes with huge cost savings and the kitchen looks brand new,” says the California-based realtor Michelle Aceta.
He also worked with clients to repaint cabinetry and add new hardware for an updated look.
Smart home upgrades are attractive selling features
Sometimes, little upgrades set a house apart from its competition.
Represented by Matt Stigliano, a real estate broker McNair Custom Homes, said, “For smaller projects, I’ve noticed a growing trend in smart home upgrades. Buyers appreciate homes wired with thoughtful technology that seamlessly integrates into their lives – whether it’s a Nest thermostat, smart security system or under-cabinet lighting that can be controlled with a smartphone.”
Invest in Landscaping – Curb appeal is still important
Curb appeal is the impression a buyer gets when viewing your home from the street or driveway. The more aesthetically pleasing your home is, the greater its curb appeal.
Realtor and Managing Member Hello Homebuyers, Jonathan Faccone, advises sellers to focus on landscaping. Some of her budget-friendly suggestions include adding a new doormat, stylish outdoor furniture, and new lighting to the front porch. “I always advise my clients to invest in landscaping, an existing refresh, updating exterior paint colors, and outdoor living spaces like decks or patios. These small projects make a big difference and significantly increase the overall value of a home,” he adds.
Energy-efficient and “green” upgrades are popular
According to its founder-owner Anna D. Smith Anna Dee Smith is a fine art and real estate broker, green updates that increase a home’s energy efficiency are must-haves in today’s market. “Solar panels, energy-efficient windows, and smart thermostats are not only good for the planet, but they translate to lower utility bills, which is a major selling point for today’s buyers.”
Even if you’re not ready to sell, updates like these can improve your home’s energy efficiency and put you in a better place when you are is List is ready.
Home offices are a hit with the work-from-home crowd
As more workers join the work-from-home movement, even if part-time, the need for home offices has increased. “Incorporating flexible living spaces that cater to modern lifestyles is a valuable consideration,” says Rick Gruebele Visions First Realty, LLC. “Open floor plans, multi-functional rooms, or adding home office space can appeal to a wide range of buyers, especially those adapting to the remote work trend.”
Adding a home office may not be the best ROI, showing a place for a workstation, even if it’s in a multipurpose room.