Smart homeowners constantly look for ways to improve their most important investment. Most people don’t have the cash to bankroll a total remodel every time trends change, but keeping your home updated doesn’t have to mean knocking down walls and reconfiguring the layout.
Not all home projects yield the same return-on-investment (ROI). While you might love a dry sauna, it’s unlikely you would find a buyer who would value it enough to remunerate you for it. Certain projects do translate into increased value almost universally, however. Some of the best ROI home improvements include:
Minor Bathroom Remodel
Average Cost: $10,500
Average ROI: 102%
It’s a hard truth that kitchens and bathrooms sell houses, and when it comes to bathrooms especially, the newer things look, the better. Replacing the vanity goes a long way in improving a bathroom, and new lighting brightens and adds warmth. Your bathroom should be a comfortable place while you are in your home, so make updates you can enjoy long before you sell.
Average Cost: $4,900
Average ROI: 100%
Curb appeal matters, so invest in your home’s front and backyard, which will pay off when it comes time to sell. Well-chosen landscaping and neatness mean aesthetic appeal, not necessarily spending big bucks.
Minor Kitchen Remodel
Average Cost: $15,000
Average ROI: 98.5%
Start a kitchen refresh by replacing outdated appliances with modern ones. Instead of ripping out old cabinets, reface them instead and add new hardware after a well-done paint job.
Deck or Patio Addition
Average Cost: $11,000
Average ROI: 90.3%
Especially in warmer climates, a deck or patio addition becomes almost an extra living space for you to enjoy, and that later adds much perceived value to your home. A deck or patio gives a yard added value regardless of location.
Window or Door Replacemen
Average Cost: $9,700
Average ROI: 89.6%
Nothing makes a home look fresher than new windows and a new door, both inside and out. Considering the reduction in heating and cooling bills from increased efficiency, this update wins every time.
Home renovations that offer high ROI pay dividends now and later. Because our homes are where we unwind and are free to be ourselves, where we come together as a family, we owe it to ourselves to feather our nests well while we’re inhabiting them.
Our homes become more than four walls and a roof, as realtors like Charleston Empire Properties are all too aware. Whether you need advice about updating or are ready to buy or sell, they can help you with all your real estate needs.