Thanks to the Renovation Bonus promoted by the government in the Budget Law, spending on home renovations has increased significantly. According to 76% of real estate agents, home renovation activities are on the rise: homeowners don't want to face future uncertainty with a low-value property, so they choose to make strategic changes to maintain the value of their home as high as possible.
So what are the best ways to increase the value of your home? In this article, assuming you're looking to sell your home, we'll provide helpful tips for identifying potential improvements that can increase its value. Drawing on the advice of well-known real estate agents, we've compiled a list of top recommendations for home renovation projects, so you can decide wisely how to invest your money.
Physical home improvements
Presenting a home with generous space to a potential buyer is always a good calling card; in fact, the demand for a home with more square footage is a confirmed trend, as evidenced by the fact that 44% of real estate agents rank "need more space" at the top of their list of reasons for moving. If the home has a basement, it certainly makes sense to finish it to extract a higher price from the buyer. Finishing the basement, adding heated space, can really elevate your home's price range: on average, depending on the square footage, you'll spend between €15,000 and €35,000, with the possibility of recouping up to 70% of the cost. Similarly, eliminating a few extra walls creates the spacious layout buyers desire. Designs that fully or partially open up the living room, dining room, and kitchen allow for greater natural light and better use of space.
External interventions
Improving your home's exterior, starting from the curb, gives the impression that your home is well-maintained. For example, mowing the lawn, trimming shrubs, and planting trees can cost a few thousand euros, but they offer a great return on investment. 76% of agents specify that exterior and garden work is the top option for improving the market value of your home. Therefore, stone cladding the facade, installing a steel door, replacing the garage door, and repainting the facade are excellent ideas for refreshing your home's appearance.
Update your interiors
The kitchen and bathroom are certainly the most important rooms, where buyers' eyes are particularly focused: if these rooms are in good condition, they won't have to consider costly renovations. If you do have to renovate the kitchen and bathroom, however, the advice is to think functionally, rather than overly luxurious.
