If you want to increase the value of your home, it’s worth investing in certain home renovations now that will pay off down the line. While remodeling a kitchen and/or bathroom has long been the go-to for boosting home values, there are now more timely and practical renovation trends that will have even more appeal to discerning buyers.
Here’s a look at the home renovation trends that GOBankingRates says are worth investing in for 2024.
Safety Features That Make Aging in Place Possible
As baby boomers age, they are increasingly prioritizing aging in place. A recent U.S. News & World Report survey of Americans ages 55 and older found that 93% cite aging in place as “an important goal” for them. To appeal to this demographic, it’s worth investing in renovations that will make your home a safe place for older adults.
“We are seeing increased demand for remodels related to safety and accessibility,” said Jon Bostock, a former GE executive and current CEO of Leaf Home. “Popular remodels include adding safety features such as walk-in bathtubs and showers, grab bars, wider doorways, nonslip floor surfaces and stairlifts to move freely about the home.” He added, “Prioritizing home improvement projects that make a home safe and functional is a smart investment in the long-term, as these accessibility features can add to the home’s value.”
‘Home Hardening’ Improvements
As extreme weather events become more common, many homebuyers are seeking homes that have been renovated to withstand natural disasters.
“Extreme weather will cause a surge in ‘home hardening’ — making the home more resistant and resilient to weather events,” Bostock said. “In 2024, more homeowners will prioritize weather-related maintenance to protect their homes from extreme conditions such as wildfires, hurricanes, floods and other natural disasters.”
Certain “home hardening” improvements are in increasing demand from buyers. “We expect to see increased demand for improvements such as solar-power systems to increase the reliability of power remaining on during weather events, gutter maintenance so homeowners can remove dry leaves that can easily catch fire from the home, and windows with strong insulation to protect from high winds and extreme temperatures,” Bostock said. “These types of home improvements increase a home’s value, aid in preventative upkeep and, in some cases, can even be life-saving.”
In-Home Water Filtration Systems
Going along with the theme of home improvement projects that contribute to the health and safety of the home and its inhabitants, Bostock also believes that installing an in-home water filtration system is a worthy renovation to tackle in 2024.
“We are seeing increased demand for in-home water filtration systems as the quality of drinking water in the U.S. is continuing to worsen,” he said. “Almost 50% of tap water in the U.S. contains PFAS, also known as ‘forever chemicals.’ Consumption of these chemicals has been linked to severe health issues, including cancer.
“To make matters worse, common water filters like those in your refrigerator aren’t strong enough to protect against all PFAS,” Bostock continued. “As a result, homeowners are investing in reverse osmosis water filtration systems for the entire home, especially in areas that are highly susceptible to contaminated water.”
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