Home improvements are a great investment to make property occupants happier and more comfortable. However, it’s vital to carefully consider your options when you want to recover your investment after selling the property since remodels have different values.
What are the home improvements with the highest ROI?
When it comes to home improvements, one of the most important factors to consider is the return on investment (ROI). After all, you want to ensure that whatever improvements you make to your home will increase its value and be worth the money you put into it.
To help you make the most of your hard-earned money, here are a few guiding pointers to help you get started.
1. Kitchen Makeovers
A kitchen renovation is one of the crucial home improvements that can guarantee high returns on investment. While it requires a significant upfront investment, you can get up to three-quarters of your expenses back.
The kitchen is a good bet if you’re unsure what to start with. For instance, most buyers perceive kitchen remodels as more valuable, even when your bathroom is dated. Once the kitchen is finished, the new owner can handle the bathrooms when ready. Typically, buyers try to avoid homes that require significant kitchen remodeling due to the hassles involved.
If you want to avoid a complete remodel, you can still make huge differences by making smaller but strategic Improvements. You can reface older cabinets and install granite countertops. Similarly, swapping the hardware and small appliances can give your home a new look at a lower cost.
2. Bathroom Remodeling
The bathroom can show your home’s age since it’s a high-traffic area, and buyers often hesitate to buy properties that require a major bathroom renovation. Completing a bathroom remodel is best before staging your home for sale.
Most remodeling decisions are driven by the need to make your home more functional, but some homeowners do it to modernize and make the space more luxurious. However, the cost of a new bathroom is similar to what you’ll pay for a complete renovation.
Simple upgrades like sinks, vanity, and faucet replacement can make an old bathroom look spectacular. New lighting and flooring can also make your bathroom more practical and appealing.
If you want the highest returns on your investment, take the remodel a notch higher by doing a complete overhaul. Try to analyze all the features, remove anything that doesn’t add to its design appeal, and replace it with newer, modern fixtures.
3. Update The Flooring
Hardwood flooring is among the most valuable upgrades you can make and takes a top position on the checklist for selling a house. While modern carpeting has its purpose and place, hardwood floors can boost the appeal of most interior spaces. First impressions are critical to buyers’ perception of your home, and investing in refinished hardwood floors has a big impact.
You can breathe new life into old floors by installing new hardwood or resurfacing a moderately beaten-up floor. Since there are endless options for color shades and stains, you can make your interiors trendy and timeless. Typically, most home buyers are ready to pay more for new hardwood flooring, meaning you can sell the house faster and recoup your investment.
You can skip the flooring upgrade if your carpet is in perfect condition. If you have pets, you’ll likely need a new floor. Regardless, some buyers will choose a home with hardwood flooring over one with wall-to-wall carpets.
4. Garden Landscaping
Landscaping updates don’t require substantial investment but can offer significant returns and boost your home’s overall curb appeal and value. Making minor landscaping upgrades can give you up to 100% return on your investment, making it a worthwhile home improvement project.
Modest landscaping improvements are typically easy to maintain and don’t require much gardening work. Some high ROI landscaping updates include adding greenery to your yard, power washing your driveway, mowing the lawn, adding some fresh mulch, and a general tidy-up.
This can help instantly give your outdoor space a fresh, new look and make it a more welcoming space for entertainment and relaxation. If you choose to add greenery, consider using ceramic or stone planters with unique designs and a color that matches your home’s color scheme to instantly transform the look of your outdoor space.
5. Garage Door Replacement
A new garage door can recoup more than 90%of your investment and add a nice curb appeal to your home. While garage door replacements can be expensive, they can make a strong first impression and influence how much potential buyers are willing to pay for your home. On the contrary, a dated garage door can turn off most prospective buyers and significantly reduce their chances of buying or the amount they’d be willing to pay.
6. Window Replacement
Replacing your windows is another home improvement project that can help you recoup up to 70% of your investment. Replacing your dated single-panel windows with newer double-panel windows that are more insulated can improve your home’s energy efficiency and add beauty and comfort.
Window replacement also makes your windows more usable. And the best part is that window frames come in a range of materials to choose from, including fiberglass, vinyl, wood, and aluminum.
Vinyl window frames are often the most sought-after due to their affordable prices and low maintenance. They also come in various colors, but you can also paint a custom color of your liking.
7. Upgrade the Front Door
The front door is typically the first thing your guests and potential buyers see when they visit your home. As such, updating your entry door makes a great way to create a good first impression and boost your home’s overall curb appeal. This makes your home more appealing to interested buyers, helping you make the most after you sell.
Front door updates that can give you a high ROI without spending a fortune include giving the door a fresh coat of paint. A new coat of paint will bring new life to your front door and boost your home’s curb appeal. Make sure the color you choose for your entry door complements your home’s color scheme and style.
However, if your door looks dated, consider replacing it with a newer, more stylish one. A steel door can be a great choice since it requires minimal maintenance, adds security and durability, and enhances your home’s overall energy efficiency. They also come in a range of colors and designs, so you can easily find one that will complement your home’s unique style.
If you intend to stay in your property for a couple of years, making specific upgrades that enrich your lifestyle is okay. If you plan to sell the house and make a tidy profit, it’s best to focus on home improvements with the highest ROI.