Q: What Home Renovation Projects Will Give Me the Best ROI?

Here are four key areas homeowners should focus on before selling. 

According to a 2019 Harvard study, Americans spend approximately $400 billion in home renovation projects each year. Some want to update a tired look in their home or add something they will enjoy, while others will make improvements because they are thinking of selling soon and want to maximize their price.   

If you are looking to increase your home’s value, it is important to know which renovation projects will bring you the best return on your investment. In this two-part series, we will talk about both indoor and outdoor projects you can complete. This video will focus on things you should consider for interior projects:

1. Kitchen. Whether you completely remodel your kitchen or just replace/paint your cabinet doors, improvements to the kitchen can bring you a great return as well as bring you more enjoyment during your ownership...it also helps your home really stand out to buyers.

2. Heater and A/C. It is not going to stand out as much visually, but it is something that you will feel every day and see in your heating and cooling bills. Updating your HVAC system tends to cost a little bit more, but it is going to pay off in the long run and cause your home to sell for more.

3. Hardwood floors. You do not have to choose hardwood floors. You can opt for lower cost items in some cases like luxury vinyl or perhaps even newer carpet and pad. Upgrading your flooring can transform the look and feel of your home.

4. Bathrooms. Much like your kitchen, your bathroom is a big deal when it comes to buyer perception. In lieu of a full remodel, replacing vanities, lighting, your toilet, and faucets are just some of the things you can consider doing.

Some other low-cost items that can bring you a positive ROI include painting, closet remodeling, and more. If you want a complete list of things you can do, just reach out to us and we would be glad to send you one.

If you have any other questions about your home or real estate in general, don’t hesitate to reach out via phone or email. We look forward to hearing from you soon.