Home Improvements for the Best Return on Investment
Considering selling your home in the future? Then you’ll want to make sure that your property enters the market hot. Making some upgrades now can increase your home's value and attract buyers willing to pay more for desirable features.
The good news is, many of the most impactful changes aren’t that hard to make. You can create a lot of appeal and value with a relatively small investment. Below, we’ll go over the top 5 home improvements that wow buyers and generate the best return on investment.
1. Refreshing the Bathrooms
When buyers are looking for a new home, comfortable, luxurious bathrooms are a major draw. They want spaces that feel clean and inviting for those spa-day pampering sessions. Now, this doesn’t mean you need to go all out with a major renovation. Minor bathroom remodels can get the job done, and even boast a higher ROI (102% vs. 93.2%).
Common upgrades include switching out plumbing and lighting fixtures, as well as installing new vanities or countertops. These few tweaks can absolutely transform a bathroom’s look and bring it up to date with current styling.
2. Upgrading Your Kitchen
Kitchens are yet another big focus for many buyers. It’s the area where function matters most, and luxe perks are big-ticket features.
Giving your kitchen a minor remodel can generate over a 98% return at your home’s sale. Replacing old appliances with high-performance, energy-efficient models can easily improve your kitchen’s appeal. And refinishing the cabinets or putting in new light fixtures can be all the sprucing up your design needs.
3. Finishing Your Attic or Basement
Living space is in high-demand these days, and maximizing it in your home can make it far easier to compete against other properties. Renovating an unfinished attic or basement into a bedroom, den, or office can significantly increase your home's selling price.
You can market your home with an extra usable room, not just storage space. Attic and basement remodels produce an ROI of 90-93.5%.
4. Updating the Paint
Interior re-painting is a popular pre-sale upgrade because it is just so incredibly effective. Renovating can instantly refresh a space, appeal to more buyers, and potentially increase your home's value significantly.
To appeal to the widest range of buyers, consider painting your home's interior with neutral colors. This helps create a bright, spacious feel and makes it easier for potential buyers to envision themselves living in the space.
Painting the exterior of your home can also go a long way toward boosting first impressions, but the ROI is only 55%. This upgrade is only worth the investment if your home’s exterior is really worse for wear.
5. Landscaping Your Yard
Speaking of first impressions, there are few better ways to uplift your home’s curb appeal than with some artful landscaping. A refreshed landscape can prove to be profitable improvement that boosts your home's perceived value.
Beyond regular lawn care, consider landscaping upgrades to boost your home's appeal. This could include:
- Repaving walkways or driveways.
- Planting low-maintenance native plants.
- Painting