The Best Ways to Improve Your Home's Value in 2018

With price per square foot on the rise, many homeowners are opting to stay put but stretch their living space by turning their basements into recreational retreats. The trend in 2018 will focus on upscale renovations with a luxury feel. Small home theaters (seating for eight or fewer), wet bars, and open entertainment areas are good bets, but skip the wine cellar if you want to draw in potential buyers. Well-designed basement upgrades offer a 70 percent return on your investment.

Related: The 10 Best Colors for a Brighter Basement

Enhanced outdoor living and entertaining spaces rank at the top of many a home buyer’s wish list, so if you’ve been dreaming about a new deck, this is a good year to make those dreams come true. Well-designed decks are top selling points, and you could recoup 65 percent of the money you spend on a new composite deck. Wood decks, such as cedar or redwood, are even more popular, netting homeowners a 71 percent ROI.

Related: 18 Design Ideas to Make Your Deck a Destination

Year after year, one remodeling project consistently nets homeowners the biggest return on their investment: adding attic insulation. Houses lose the greatest amount of heat through the roof, making additional attic insulation an investment in energy savings as well as home value. The average cost to insulate an attic with fiberglass insulation runs about $1,300, but the project increases resale value as much as $1,400, which means that you could recoup as much as 105 percent of the project's cost when it's time to sell.

Related: 14 Secrets of People with Low Energy Bills

New siding is one of the best ways to refresh your home’s curb appeal. While any type of siding offers an updated look, masonry veneer will give you the best bang for your buck, with a whopping 91 percent return on investment. Choose from dozens of styles of either brick or stone veneer, and have it professionally installed for the best appearance and resale value.

Related: 9 Things Home Makeover Shows Never Tell You

Replacing old, drafty double-hung windows with today’s versions that have double or triple panes, low-e coatings, and argon gas, or even opting for easy-to-open casements, offers an approximate 73 percent return on material-and-installation costs. Old windows make a house look dated and turn buyers off, so if you're renovating with an eye on resale, this is one upgrade that can really increase your home’s appeal—and with new new, energy-efficient windows, you'll save on utility costs as well.

Related: Drafty Windows? Solutions for Every Budget

When the appraiser comes calling, a new roof on your house will translate into a 69 percent return on the money you spent to have the old shingles removed and new asphalt shingles (with a 25-year warranty) installed. Not only does a shabby roof discourage potential buyers, but a mortgage company may not lend money to buyers if the roof shows signs of damage. If you plan to sell your home in the near future, consider replacing that old roof in 2018.

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If your bathroom has seen better days, this is a good year to undertake minor renovations. Consider, for example, replacing a worn tub and adding a tile surround. Small upgrades like luxury vinyl flooring and a new sink and vanity won’t break the bank, and you could see a full 100 percent return on your investment. To get the most value for your bathroom remodeling dollars, choose inexpensive to mid-range fixtures; buying high-end fixtures doesn’t pay off.

Related: 14 Jaw-Dropping Remodeling Ideas You Can Copy for Less Than $1,000

Even if you've got your heart set on hardwood flooring, it's worth considering the alternatives. Sometimes, materials that only look like wood can be just as good as—or even better than—the real thing. Explore your options now!