Home renovation is an integral component of homeownership. It plays a critical role in ensuring the ongoing comfort, safety, and functionality of a property. With that said, not all renovations are created equal when it comes to boosting property value. This is especially true in the Arizona market, whose unique climate and transplant population require a special set of considerations when compared to other regions. For more on the latest renovation trends that have strong financial upside, keep reading for some of the most value-adding projects in the Arizona real estate market.
Open Interiors
Although the open concept is a major trend in home renovation across the nation, it is a major vibe in the Arizona market. As one of the sunniest states in America, the natural light flowing through the home’s interior is a great way to create a positive, welcoming ambience that potential buyers will surely covet. Some great features for maximizing an open interior include a kitchen island for 360-degree functionality, acoustical wood panels to limit sound transfer to adjacent areas of the home, and large windows to maximize the potential of natural light to permeate through the home.
Siding Upgrade
Siding plays a unique role in the Arizona climate. Unlike siding in other markets that may get bombarded with snow, the siding on Arizona homes must contend with incessant UV exposure. In addition, high winds during monsoon season can cause sand to get behind some types of shingles. For these reasons, stucco has traditionally been a favorite siding material in Arizona. Its light color reflects sunlight and monolithic finish prevents debris intrusion. To expand on the benefits of stucco even further, modern synthetic stucco, such as EIFS, provides additional layers of insulation which can limit temperature fluctuations in the home during times of extreme heat.
Smart Home Features
Technology is ubiquitous in 2024, with real estate at the very heart of this trend. Smart home features are adding comfort, convenience, and functionality to modern properties. Some of the smart features that buyers are willing to pay more for include intelligent lighting, app-controlled thermostats, and smart windows.
HVAC Conversion
Although it may not be as exciting as a master bedroom overhaul or a dream kitchen installation, the annual Cost vs. Value Report for the Arizona region revealed that updating HVAC to a more efficient electric version was the most lucrative renovation homeowners could perform in 2023, recouping a staggering 103.5% of project costs. That’s right--an electrified HVAC unit more than paid for itself through increased home appreciation after project completion. In addition, as the average temperature to set thermostat in summer in Arizona is always well below ambient temperatures, homeowners can be sure to see decreased utility bills after installing a more efficient HVAC system.
Functional Exteriors
With the scenic desert views and comfortable evening temperatures, no Arizona home is complete without functional exterior space. While a swimming pool immediately comes to mind, there are other ways to more efficiently create exteriors that add value to the property. Compare cedar decking vs composite decking and explore pergola options to create a connected area that is easily accessible. Look into stone fire pits that provide a focal point for evening gatherings. Consider outdoor kitchens as a means of changing the scenery at meal time. All of these trending exterior features will definitely catch the eye of the market.
Garage Door Replacement
A garage door replacement is a staple renovation for boosting property value. A new garage door instantly boosts curb appeal, enhances energy efficiency, and improves safety simultaneously. The great news about a garage door project is that it can typically be completed in less than a day with professional installation, creating instant bang for your buck that does not keep the home a construction zone for weeks at a time.
Low Maintenance Walkways
Concrete has traditionally been the material of choice for suburban sidewalks. It is affordable and creates a clean look when new. However, concrete is a high-maintenance material that readily cracks and stains without the proper attention. As such, explore porcelain vs concrete pavers and other types of alternative walkways to create a more lasting impression with your walkways. Even look at permeable pavers for installing stone sidewalks, which play exceptionally well with the xeriscaped lawns prevalent in the Arizona market.
Value Added: The Most Lucrative Remodeling Projects for the Arizona Market
When renovating a home, there is a fine line between adding value to the property and creating a never-ending money pit. This is especially true in the Arizona market, whose unique climate and high rate of transplants creates a special set of considerations that must be accounted for. By carefully exploring the renovations above and other resources at Arizona Foothills Magazine, homeowners can feel confident that their property is set to stand out in a competitive Arizona market!
