Let’s keep it simple, homes generally appreciates. Home buying is the biggest purchase of your life. Living in your home for years raising your family then selling is the norm and you will make a profit when it’s time to sell.
Smaller is bigger right now. Homes with 1200 square feet have appreciated by 7.5% and homes larger than 2400 square feet appreciated by 3.8%. This demand is caused by first-time home buyers with limited borrowing capacity and smaller families.
The number of bedrooms is a factor in valuations. 3 bedroom home appreciates 6.3% and five bedrooms appreciate by 4.3%. If you convert a bedroom into an office or study, this offsets the lower appreciation.
Two-car attached garages are what people look for. If the garage is separate, enclose it to the home with a breezeway. This would give you a sunroom if designed properly. Since most homeowners have 1.9 cars along with a lot of “toys”, 3 car garages are the gold standard.
Open-concept homes are on trend for watching the kids while you cook, entertaining guests, or for older people with mobility issues. Homes with curb appeal have a 6.9% appreciation and a nice fenced-in backyard have an 8.9% appreciation. To bridge the home to the backyard, a patio is a good investment.
Surprisingly whether you have stainless steel appliances or granite countertops does not make a difference in appreciation because people have their own opinions on these matters.
Of course, keeping your home maintained over the years with some remodeling keeps your interest in your home and will make it more contemporary when you do go to sell it.