When you reach the decision to list your home for sale, one thing you want to know is if there are any simple upgrades that you can make that will not only increase the value of your home but also make it more attractive to potential buyers. The last thing you want to do is spend money on an improvement that will not give you a good return on the money you invest. The best improvements may not be the most glamorous, they will though, return more money to your pocket.

 

Renovation Project #1: Minor Bathroom Remodel

Two of the three best renovation projects for return on investment (ROI) are kitchen and bathroom remodels. Believe it or not, bathrooms offer the better ROI of the two. You don’t need to create a spa-like space. Replacing the vanity, installing a new shower head, and updating lighting will make a huge difference without costing an arm and a leg. For a project like this the ROI should be 102%. Plus buyers love a remodeled bathroom.

 

Renovation Project #2: Landscaping

You wouldn’t think that spending money outside your home would give you a good return. Landscaping is the exception. This project will help get buyers to stop the car and come inside for a closer look. Curb appeal is always important and good landscaping can be a big part of your home’s curb appeal. Keep it simple and neat, but at the same time, not appear to take much work to maintain. ROI for this project is usually 100%.

 

Renovation Project #3: New Garage Door

A new garage door makes your home look and function better. No dings and no dents adds to curb appeal and returns about 94% of what you spend on the new door.

 

Renovation Project #4: Home Office/Media Room

Even before the pandemic, the trend in working from home was on the rise. Being able to transition from work-life to home-life in a few short steps is becoming the norm. A home office can increase your home’s value by as much as 10%.

 

Adding a media room will boost your home’s entertainment appeal. The ability to control light and sound are the two most important features of any media room, so a popular location for this type of room is a basement of spare bedroom.

 

Renovation Project #5: Minor Kitchen Remodel

You don’t need to demolish and redo the entire kitchen. Replace older appliances with better ones, refinish cabinets with a new coat of paint and install new cabinet hardware. This will bring you a ROI of around 98%.

 

Renovation Project #6: New Entry Door

This is easy to do and will return about 91% of the cost. The real value in doing this is the increase in your home’s curb appeal. It only takes a few seconds for a buyer to decide whether or not your home rates a closer look.

 

Renovation Project #7: Add Smart Technology

Smart technology is the latest trend that buyers, particularly younger buyers, are looking for. Having already added items like video doorbells, thermostats that can be controlled by a Smartphone, smart light bulbs, and USB ports will increase your home’s appeal to these younger buyers. The more technology they can see, the more your home will stand out from the crowd.

 

Final Thoughts

Certain improvements will improve the value of your home while at the same time they will increase demand. Making the right upgrades will bring you more money and help to sell your home in record time.

 

 

Sources:

https://www.fortunebuilders.com/top-10-home-improvements-with-the-highest-roi/

https://www.millionacres.com/real-estate-market/home-renovations/best-roi-home-improvements/