If there are areas in your home that have been neglected over the years, it’s a good time to consider a home renovation, especially if you’re considering selling in the future. Investing in a few home projects will help you sell it right, meaning you’ll get the most value for your property. To ensure you get the best possible ROI on your home, here are 7 home renovations that add the most value
The bathroom is one of the best home renovations for increasing value – homeowners can usually expect to recover about 70% from this investment. Aside from its value, the bathroom is also one of the most frequently used rooms in the home, which means it deteriorates more quickly.
There are many fun and unique designs that you can choose from to modernize your bathroom and make it even more practical and luxurious. Consider replacing the vanity, improving any old plumbing, modernizing the shower with a glass door, retiling, upgrading the toilet to a low-flow, and replacing old faucets. A complete reno is the best way to go.
Fix Up the Backyard
Backyard lounging and entertaining is making a massive comeback, which is why focusing on outdoor areas and structures is at the top of our list of renos. Modern buyers today are looking for properties that are fairly turn-key, meaning all they have to do is move in and maybe perform a few cosmetic adjustments. If your backyard is in rough condition, it’s worth investing some time and money in the area before listing your home. Focus on redoing the deck, patio area, adding a new fence or creating a cozy fire pit zone. The key to making this worthwhile is to focus on low-maintenance designs. Your contractor will be able to advise you on how to transform your outdoor space so that you can enjoy it to the max while keeping the maintenance minimal.
Homeowners today are more aware of their energy consumption than ever. They understand how much windows contribute to their heating and cooling expenses. If your windows are old and drafty, replace them with energy-efficient ones. This will also significantly improve the look of your home and you’ll most likely recoup the investment once you sell.
Refinishing the Basement
We are all spending more time at home these days. As a result, homeowners have gained a whole new appreciation for unused space, like the basement. This is often left as an unfinished and unused part of the home used primarily as the place to store old boxes. Well, not anymore. Buyers want all the square footage they can get, so when they’re hunting for a home, a finished basement is key. Adding insulation, moisture protection, and creating a brightly lit and inviting space to use as a den, home office or entertainment room, can get you up to 75% ROI on average.
The kitchen is the heart of the home and it’s where we eat, entertain and congregate the most. It’s no surprise that a kitchen upgrade can be a very valuable reno to take on, when done right. If you have outdated fixtures, cabinets and appliances, these should be a priority on your to-do list. Invest in energy-efficient appliances, add new cabinets, a granite-style countertop, and complete the look with contemporary faucets.
The Front Door and Entrance
We all know that first impressions matter. When you step out to the curb and look back at your home, what do you notice first? Does the front door and entranceway stand out? If your front door has been there since the day you moved in, chances are it’s time to replace it. Repair any crumbling stairs and interlock, sand and repaint the handrails, and get your porch area in tiptop shape. When you list your home on the market, you want that first impression to be a positive one.
A New Coat of Paint
Lastly, giving your home a new coat of paint can work wonders. When repainting, make sure to prep any areas first by sanding them down and giving them a good clean. Choose the right type of paint and focus on high traffic areas. A fresh coat of paint can have a big impact on the look and perceived value of your home.