Looking for home upgrades that add value and don’t cause you to blow your renovation budget? This list has great suggestions.
Paint. Broadband. Dog house. You might think these easy, low-cost home upgrades wouldn’t add much value, but Zillow research shows that these and other home upgrades with estimated price tags of less than $100, $500 or $1,000 can generate big returns when you sell your home.
An analysis of more than 200 features in the listing descriptions of more than 3 million homes sold in 2020 and 2021 turned up the following home renovation ideas on a budget.
Under $100
New paint
A fresh coat of paint is a time-tested upgrade that can add value to your home. Focus on rooms with the biggest impact or worst damage to the walls or ceilings. Stick with updated colors, such as gray or beige with white trim, or add a touch of class with a charcoal, smoky-black or jet-black front door. Colors to avoid include bright green, pink, bright yellow and bright red.
Broadband internet
A high-speed Internet connection is essential for buyers who plan to work from a home office. When mentioned in a listing description, this upgrade can help a house sell for 2.5% more than expected.
Dog or pet house
A backyard home for Fido could net a very attractive price premium for your home’s value. The 2.3% boost is a bit lower than some of the other projects on this list but given a pet house’s low cost and ease of purchase, this small improvement, mentioned in a listing description, is a no-brainer even if you don’t have a pet.
Under $500
Retreat space
When mentioned in a listing description, quiet rooms and personal spaces command a sale price premium of 2.2% for a “she shed” and 1.7% for a “meditation room.” Either type may be part of your home or a detached outdoor structure. Keep the cost affordable by creating the space yourself or decorating a shed you already own as a DIY project.
Zoom room or home office
Home offices aren’t a new idea. Today’s version, sometimes called a “Zoom room” after the popular online video conferencing service, nets a price premium of 1.6% for a listing description mention. A DIY project keeps the cost modest. Here are some ways to upgrade your home office space, if you need inspiration.
Spa-inspired bath
A new bathroom can be a pricey project. Fortunately, you don’t have to redo your entire bath to boost your home’s resale value. Install an inexpensive rainfall showerhead, which creates a rain-like effect in your shower. Keep the spa-inspired feel going with a light blue paint color (a great paint premium to add) and coordinated and natural accessories. Whether you DIY this project or hire a pro, including “spa-inspired” in your listing can be an affordable upgrade with a 1.8% price premium.
Under $1,000
Heated floors
Heated floors aren’t just cozy for your feet. When mentioned in a listing description, they can add a comfortable 2.4% price premium. Kits are available to help make this DIY friendly, and installing them in smaller rooms, like a bathroom or kitchen, can help keep the price down. (Although, you may consider bringing in an electrician to help with the wiring.)
Modern farmhouse style
While you can create a simple farmhouse look on a small budget, for the last few years, the focus has been on shiplap, a traditional wall covering of interlocking wood panels. Modern shiplap is attractive, and it provides additional insulation against cold weather. Some designers have suggested shiplap may go off-trend in the near future, however. Other elements of this style to consider adding include:
- Barnboard details
- Wide plank floors
- Wrought iron accents
- Vintage accessories
- Architectural salvage
- Reclaimed wood
The modern farmhouse look commanded a 2.6% price premium when mentioned in a listing description.
Nautical style
Similar to the farmhouse style, the nautical look often involves the use of wood paneling in addition to beach-home decorative items. This style netted a 2.4% price premium when mentioned in a listing description.
Higher-ticket items
Clearly, home upgrades that add value don’t have to involve costly, disruptive or time-consuming renovations. But if you’re ready to go even further, these bonus-category home upgrades could also add value to your home.
Zillow research finds that just over 70% of homeowners will consider at least one home improvement project in the coming year,
One great high-end home upgrade to consider is the steam oven, which topped the list of desirable home upgrades in 2020 and 2021. These ovens, which cook with steam, are a popular option for home chefs inspired by pandemic lockdowns or TV baking shows. Steam ovens, which start around $2,000, give a listing-description price premium of 3.7%, which is more than adding all new appliances (2.6%).
Buyers generally also appear willing to pay more when the listing description includes these features:
- New appliances, 2.6% more
- Metal roof, 2.4% more
- Seismic retrofit, 2.4% more
- Quartz countertops, 2.3% more
- Pizza oven, 2.3% more
- Outdoor kitchen, 2.2% more
If you want to make these or other pricier upgrades while you still own your home and you’re short of cash but have at least 10% equity, you might consider home-improvement financing. A second mortgage lets you borrow a lump sum with a fixed interest rate. A home equity line of credit, or HELOC, gives you a credit line with a variable interest rate.
If you’re ready to sell and don’t want to make upgrades yourself, a credit at closing toward the cost may help entice buyers who value these home features. If you’re looking for even more great home improvement ideas to increase your home’s value, we’ve got you covered!