10 Tips on How to Increase
the Value of Your Home

Tuesday, April 04, 2023

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As a homeowner, your house is likely the biggest financial asset you have and taking care of it should be your top priority. Keeping up with repairs and planning smart renovations are both guaranteed ways to make your home more livable while increasing its value over time. 

In this blog post, we explain why your home’s value is important, whether interior or exterior upgrades are a better investment, and break down the average costs of 10 tried-and-true renovations that can increase your home’s value. 

Why Increase the Value of Your Home? 

A home is more than just a place to live — it’s an investment that can pay massive dividends as you build up equity and increase your property value over time. While your neighborhood, the economy, and local demand for housing will all affect your property value, you can increase your home value by making upgrades and changes which can warrant a higher selling price whenever you’re ready to put it on the market. 

If you have short-term plans to sell your home, re-consider any major renovations unless they’re absolutely necessary. According to the Remodeling 2023 Cost vs. Value Report, the cost of home renovations and the resale value they return both fell to their lowest relative levels since the annual report began being published 36 years ago. This trend is likely the result of falling home prices and rising mortgage rates and isn’t likely to change soon. As a result, major renovations are a long-term investment, and you should make function and design decisions you’re happy to live with in the meantime. 

Are Interior or Exterior Upgrades Better for Increasing the Value of Your Home? 

When it comes to resale value, exterior renovation projects often have a higher return on investment than interior projects. If a potential home buyer sees a home with a run-down exterior, they’ll likely be wary of what awaits them inside. If a home looks well maintained outside, it’s more likely to be well taken care of inside, too. 

Making a good first impression is especially important in an increasingly difficult real estate market. As the market becomes harder for homebuyers to break into, buyers are also going to be focused on saving any extra cash they can — they're less likely to consider buying homes that look like a work in progress and will opt for properties that impress from the outset. 

If you aren’t planning on selling anytime soon and are looking to add value to your home while improving its day-to-day function for you and your family, consider prioritizing interior renovations since inside your house is where you spend most of your time. 

10 Ways to Increase Home Value 

There are many ways you can increase the value of your home, and some projects will have a higher return on investment than others. Here’s a list of 10 projects you can consider tackling over time from least to most expensive based on U.S. national averages* to add value to your home: 

       
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Invest in landscaping. Landscaping is your home’s way to make a good first impression with regular visitors and future buyers alike. After all, it shows extra effort is being taken to make sure your property looks its best beyond regular maintenance activities. As a bonus, landscaping is a low cost and DIY-friendly activity. Whether you add new plants or fresh mulch to your property, your effort will have an immediate visual impact. On average, DIY landscaping costs less than $2,000. Professional landscaping services most often cost between $3,000 and $13,000.
 
       
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Repaint the interior and exterior of your home. Adding a fresh coat of paint throughout your home is a simple, affordable way to update your space and stay on trend. Outdoors, paint can also do wonders for your home’s curb appeal, but depending on the size of your home, this job should likely be left to the pros. Wondering what colors you should choose indoors? Blank Canvas by Behr, Redend Point by Sherwin-Williams, Raspberry Blush by Benjamin Moore, and Aged Barrel by Minwax are just some of the 2023 colors of the year that can help you get inspired. On average, DIY interior painting costs between $1 and $3 per square foot, while professional painting costs between $2 and $6. Painting the exterior of a home averages around $3,000.
       
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Upgrade your appliances to energy-efficient models. Energy-efficient appliances are an investment that reaps immediate rewards as they reduce your monthly utility bills. When it’s time to sell, they can help you get a higher sale price for your home from buyers who are also trying to lower their costs as a homeowner. When shopping for new appliances, don’t break the bank on the latest, high-tech versions available — even modestly priced modern appliances that are rated as energy-efficient are considered a massive upgrade. The cost of upgrading your refrigerator, range, dishwasher, washer, and dryer entirely depends on the brand and finish you choose.On average, you can expect to pay an average of $700 to $1,000 per appliance.
       
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Finish your basement. An unfinished basement is an eyesore for prospective homebuyers,and the projected cost of finishing it will negatively affect how much they’ll offer you for your home.If you’re planning to DIY this reno, start by breaking the project down into three separate categories — walls, ceiling, and flooring — and tackling each category one at a time.This approach helps keep costs low and keep the project manageable for you as a DIYer. If you include Trusscore Wall&CeilingBoard in your design, it’s even more manageable: Our pre-finished panels install four times faster than drywall with no special tools or skills required. You’ll even avoid time-consuming steps like mudding, taping, priming, and painting. When you’re done, you’ll have a brand-new space for your family to enjoy in the meantime. Finishing a basement typically costs between $2,800 to $34,500, with the national average being $18,400.
 
       
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Upgrade your deck. In a warm climate, a well-maintained deck is a surefire way to add value to your home. However, constant exposure to sunlight and changing weather can damage even the most well-built wooden deck. If your home has one, make sure to inspect it annually for signs of splintering, rotting, and fading. If you notice these signs, an upgrade is likely in order. On average, wooden deck addition costs $17,000, while a composite deck costs $23,000.
       
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Renovate your primary bathroom. Next to the kitchen (which we’ll cover later in this list), a primary bathroom is considered one of the best rooms to upgrade in your home. Replacing your outdated vanity, addressing old plumbing, adding new lighting fixtures, and adding a new tile floor are just some of the ways you can modernize the small space. The national average cost for a midrange bathroom remodel is $24,000.
       
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Replace windows and doors. Replacing windows and doors in your home has several benefits: It updates your home’s appearance (especially if it’s older), it improves energy efficiency and reduces heating and cooling costs, and it takes care of any damage from storms or normal wear and tear. On average, vinyl window replacement costs $20,000, wood window replacement costs $24,000, and entry door replacement costs $2,200.
 
       
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Replace the roof. With proper installation and regular maintenance, your roof should last 20 years or more. However, if you notice any physically damaged or shingles, moisture buildup in your attic, roof sagging, or blistered paint on the walls in your home, it may be time to replace your roof. On average, a full roof replacement can cost between $6,700 and $80,000, with average-sized homes costing around $11,500.
       
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Make your garage an extension of your home. Most garages are dark, damp spaces where the drywall inside is riddled with mold and mildew, but yours doesn’t have to be. Epoxy floors, new light fixtures, moisture-resistant PVC wall panels like Trusscore Wall&CeilingBoard, and a new garage door are all ways you can upgrade your garage and turn it into a bright and clean extension of your home that’s more than just a place to park the family car. (Bonus: Replacing your garage door alone has a 102.7% return on investment according to the Remodeling 2023 Cost vs. Value Report!)A garage remodel can cost anywhere from $1,500 to $50,000 depending on the size and scale of your project. Building a brand-new garage from scratch can cost considerably more.
       
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Refresh or remodel your kitchen. Kitchen remodels are always recommended for anyone who’s looking to increase the value of their home, but a complete rebuild isn’t always required. In fact, painting the cabinets, buying new hardware, and upgrading your countertop and floors are often enough to transform your space. If you’re looking for a complete reset with all new wood cabinets, laminate countertops, sink and faucet, appliances, lighting, and flooring, you’ll have to more than triple your budget. On average, a minor kitchen remodel or refresh costs between $12,000 and $25,000. The national average for a midrange kitchen remodel is $78,000, while an average major upscale kitchen remodel costs north of $150,000. *All prices listed in this post are in USD and represent a national average. Actual pricing may vary depending on your region and the materials you choose to build with. Last updated: April 2023.

Trusscore Can Help Increase Home Value, Too 

Trusscore Wall&CeilingBoard and Trusscore SlatWall are premium, high-performing products that can instantly upgrade the interior of any residential space. 

Available in white and gray, both Trusscore products are scratch, dent, and damage resistant, making them ideal for high traffic areas of your home. Thanks to the presence of PVC, the panels are also 100% moisture and water resistant and are easy to clean, making them the perfect addition in moist or humid rooms like garages, basements, laundry rooms, and bathrooms. 

Last but not least, white Trusscore panels are bright and reflective, and are designed to reflect 90% of the light that strikes them. Not only will they accentuate any wood and metal finishes in your space, but they’ll also maximize any natural and fixture lighting available to make any room appear bigger. With Trusscore, your space will look good as new on the day you sell no matter how long it’s been since you installed it. It’s a virtually guaranteed way to increase the value of your home. 

Don’t just take our word for it. Here’s what Canadian realtor and Trusscore customer Christal Moura had to say about our product: 

“As a real estate agent and having seen many homes over the years, I have learned how to spot the houses that show great pride in ownership. It’s the homes that not only show nice on the inside, but also in the less likely places, like a garage. When a buyer sees a garage with Trusscore products, they are immediately impressed as they see how functional the water-resistant wall panels are, but also how versatile Trusscore SlatWall can be for customizing their storage solutions.” 

See how Christal transformed her 5-car garage using Trusscore Wall&CeilingBoard and Trusscore SlatWall in the video below. 

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