A home improvement project shouldn’t just result in better function and aesthetics; you’ll also want it to provide the best return on investment (ROI) and boost your home’s value.
Here are a few home improvements with the highest ROI that will increase both your home’s appeal and its resale value:
BATHROOM UPGRADES
From a simple shower head replacement to a complete tile overhaul, bathroom remodels are one of the best ROI home improvements any homeowner can do. These projects have a recoup rate of 102%, with home sellers receiving an average return of $10,700.
A full remodel is not usually necessary when sprucing up a bathroom. Switching to a newer vanity, changing the lighting fixtures, or re-glazing the tub can sometimes be enough to give the space a fresher look.
If you really want to add significant value, however, consider adding another bathroom. This can make your home more competitive when it’s time to sell.
KITCHEN UPDATES
Other than bathroom improvements, kitchen upgrades provide the highest ROI to home sellers. These projects can help properties sell faster, attracting buyers that don’t want to face the hassle of remodeling an outdated kitchen.
Re-facing the cabinets and drawers, replacing the countertops and flooring, and swapping old appliances and fixtures for new ones are some of the ways to transform a kitchen. Simpler updates like adding a pendant light over the kitchen island or getting a new eye-catching backsplash can also make the space look less outmoded.
BEDROOM TWEAKS
The state of the bedrooms can also make or break a sale, but a few simple updates and adjustments can lead to better deals in the future. Hanging a chandelier or pendant light, getting new bedding, and revealing the beautiful hardwood floors underneath the old carpet are solid investments that often pay off.
If you want to go the extra mile — and you have the space — add an extra room. This is a great way to add value to a property. You can take it even further by turning a room into a full-fledged master suite.
CURB APPEAL IMPROVEMENTS
Your property’s façade and landscaping help you make a good first impression. Repainting the front door, repairing broken siding, and adding more greenery can go a long way towards boosting a dwelling’s resale value, offering an ROI of about 95.5%.
Simply weeding the flower beds and power washing the walkway can also elevate a property’s appearance and bring in more profit when you’re ready to sell.
ADDING A DECK, PATIO, OR PORCH
A deck, patio, or porch increases a property’s usable living space — showing potential buyers that they will have more room to entertain and unwind. These additions often require a significant initial investment, but they bring a unique selling point to a home and have a recoup rate of up to 90%.
BASEMENT CONVERSION
Don’t ignore the basement! You can turn it into a spare bedroom, a home office, a laundry room, or a lounge. A game room, a wine cellar, or an entertainment area with a small bar are also brilliant basement conversion ideas that lead to an ROI of about 90% of the total cost.
FIREPLACE UPGRADES
A fireplace is often the natural focal point of a room, and refreshing it can significantly transform the look and feel of a space. Plus, they often have an ROI of around 100%! Upgrades can range from simply painting the brick to adding a mantel or remodeling the entire fireplace wall.
PAINT AND DÉCOR REFRESH
Repainting the walls is the quickest and easiest way to add more value to your property. For the cheap cost of a few tins of paint, you can bump up your asking price and get more out of a sale.
Updating your décor or staging your property also yields better profit. New light switches, improved furniture layout, and added accessories can all highlight the home’s best features and make it look more inviting.
Discover more ROI-increasing home improvements in Boston, MA with the seasoned Realtors at Steve Bremis Realty Group. Give us a call at 617.828.1070 or send us an email here to get started.