If you’re planning on selling your home anytime soon, there are ways you can increase the value of your home. Rather than going for a full-blown home renovation, you can invest in smaller, more affordable home improvement projects. You can easily recover the cost, plus get a high return on investment.
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Turn Renovations Into Profits: 6 Tips for Getting a High ROI
According to the Australian Bureau of Statistics, home improvement projects have increased significantly in 2021. Home renovation value has crossed the $1 billion mark. Don’t let the figure scare you; you can still work on home improvement projects without having to spend a fortune.
Here are the six best tips for getting a high return on investment on home improvement projects:
Repaint Your House
A fresh coat of paint can completely change the whole look of your home. Repaint the interior and exterior of your home before you plan to put your house up for sale. A freshly painted house will create a great first impression on potential buyers.
Painting is a relatively easy job; you can tackle it in a DIY project. But start small, don’t take on multiple rooms at once. Painting the interior of your home won’t be that much of a problem, and the whole process will be relatively inexpensive. What’s tricky is the exterior of your home. Hiring a professional contractor for that would be a better option.
If there are any uneven patches or flaky paint, you’ll have to even that out before you can apply a fresh coat. If you paint on an uneven surface, it’s guaranteed to give unsightly results.
Improve Your Entrance
Like we said before, creating a great first impression is important, and the best way to do that is to improve your home’s entrance. Consider changing your front door, or just repaint it a brighter color. This will make your home seem more welcoming. You can read this Dixon homes review to get an idea.
Besides improving the front door, you should change your doormats and even add some plants. Adding plants will give your home a warm vibe that will attract more buyers.
Another cost-effective home improvement project for improving your entrance would be to upgrade the walkway from the street to your front door. If it’s already in good shape but just needs some cleaning, you should get it cleaned professionally. This will make your home look more polished and inviting. Adding stylish outdoor lighting can also help attract more buyers.
Upgrade Your Flooring
The flooring of your home is extremely important in determining the resale value of your home. In a home improvement project, you want to ensure that your house has consistent flooring throughout. Changing flooring can be off-putting for buyers.
Moreover, if your flooring is damaged or dirty, get them cleaned and repaired by professionals. Get your flooring professionally washed and resealed. It’s a relatively inexpensive project. Of course, if you get the flooring changed entirely, it will cost you more.
Pro tip: To cut back on costs, you can get new flooring installed on top of the old ones, rather than getting them removed and then installing the new flooring.
Reface Your Kitchen
Most of your potential buyers would want a house where they don’t have to do a lot of renovations before moving in. A house that looks ready to move into will have a higher market value than a house that needs renovations.
A great way to do that is to reface your kitchen. Instead of a complete and expensive kitchen remodel, simply change the cabinetry, or better yet, get the kitchen cabinets refaced. It’s budget-friendly, and it can give your kitchen a fresh feel.
Simply upgrading your kitchen’s hardware can make your home look more appealing, and more buyers would consider buying your home at a high price.
Keep Your Garden Groomed
If you have a garden, keep it groomed. Make sure there’s no overgrown grass; all the plants are trimmed. Adding more potted plants will have an impact as well. Keep more flowery plants for a fresh-smelling garden.
It’s a small yet one of the most effective home improvement projects of all time. You can also add decorative pots and plants to your garden for aesthetics.
You don’t have to go out of your way to create a lavish garden; you simply need to keep a neat front and back yard.
Bathroom Upgrades
A house with an impressive bathroom can increase the resale price of a house dramatically. If your bathroom is working just fine but doesn’t look great, you should consider upgrading it.
The recommended home improvement project here would be to replace your toilet and sink. Old toilets and sinks can downgrade the overall look of your bathroom, replace them with new ones, and you’re good to go.
If there’s anything wrong with the plumbing, you’ll have to get that fixed because plumbing issues can be a deal-breaker for many buyers. It’s a rather expensive project to handle, but you can recoup the cost easily.
You should also consider remodeling the master bathroom if possible. Doing so can get you a high return on investment because a bathroom is one of the most important parts of the house. Potential buyers would prefer a freshly remodeled bathroom a priority over an old bathroom.
Final Thoughts
Home improvement projects can get you a high return on investment if you’re smart about it. You don’t have to go out of your way and budget to give your house a complete remodel. Keep our top 6 tips in mind when you plan on investing in a home improvement project.
Just remember the fact that most buyers prefer a house that doesn’t need a lot of work. If your house appears perfect on the outside, you can easily sell your house at a high price.
Even small DIY projects make a huge difference if they’re done right. But if you’re not confident enough, hire a professional contractor. Small home renovation projects aren’t as costly as complete house remodels.
