Homeownership is wonderful. It brings a sense of security and freedom that renting never will. But, with owning a home, you also have the responsibility of keeping that home maintained. Doing a few renovation projects once in a while is the best way to keep your home up-to-date, but what projects bring the most bang for your buck?
Whether you are considering selling your home soon, or just want to bring some more value to your investment, here are a few home renovation projects that bring the best return on investment when it does come time to sell.
1. Kitchen.
Kitchen renovations or upgrades are going to be the best return on investment overall because the kitchen is what most home buyers are looking at first when searching for a home. A full kitchen renovation might not be necessary though to see ROI. Sometimes just a fresh coat of paint, appliance upgrades, or finishes might do the trick.
2. Bathroom.
Bathrooms are also top of the list for renovations that bring the best return on investment. Same as with the kitchen, that you might not need a full blown remodel to make your efforts worth it. Updating the flooring, paint, cabinet pulls, or lighting fixtures are all great ways to give your bathroom a remodeled feel, but also reflect a great ROI.
3. Small Details.
Some times the most ROI is within the small details. Cosmetic updates are going to be what catches a home buyers’ eye when they are walking through your home. The small details such as lighting fixtures, doorknobs, and cabinet pulls can go a long way when considering the return on investment that they will bring to your home.
4. Windows.
Updating your home’s windows can be an expensive renovation, but one that can also be worth the investment. Old, cracking, or leaking windows is definitely a turn off for potential home buyers. Replacing them before you list your home not only changes the exterior look of a home, but also the interior, and is important for functionality.
5. Garage door.
ROI should start on the exterior of your home, since curb appeal is one of the biggest factors when considering resale value. Updating your garage doors, whether that means painting them or replacing them entirely, is well worth the initial investment. However, it is not just looks that matter. Make sure that your doors are functioning property and add smart features to up your ROI.
Remember spending more money does not always equal more ROI. No one wants to waste their money on renovations that is not going to benefit them in the long run. The five renovations above have been well researched and are considered some of the best in terms of return on investment. If you are thinking about selling your home and would like to know which specific updates your home could use before it is listed, reach out. I would love to come do a no-obligation walk through of your home and give you my honest opinion.
