Home Renovations with Great Returns

Not all home renovations offer the same return on investment (ROI). Some are more likely to give you a higher ROI than others. If you're looking to renovate your home with the intention of increasing its value, here are some of the best options:

1. Kitchen Remodel

A kitchen remodel is one of the surest ways to increase your home's value. A nicely updated kitchen will not only attract more buyers, but can also lead to a higher selling price.

2. Bathroom Remodel

Like a kitchen remodel, a bathroom remodel can also be a great way to increase your home's value. A well-done bathroom can make your home more appealing to buyers and lead to a higher selling price.

3. Adding Square Footage

Adding additional square footage to your home, whether it's an extra bedroom or a finished basement, is another excellent way to increase its value. More space equals more value, so this is a wise investment if you're looking to increase your home's value.

4. Landscaping

Investing in some quality landscaping can also go a long way in increasing your home's value. Curb appeal is important to buyers, so making your home more attractive from the outside can lead to more interest and a higher selling price.

5. Energy-Efficient Upgrades

Energy-efficient upgrades are not only good for the environment, but they can also be good for your wallet. Making your home more energy efficient can lead to lower energy bills and a higher resale value.

6. New Roof

A new roof is another smart investment if you're looking to increase your home's value. A new roof adds curb appeal and can help protect your home from the elements, making it more attractive to buyers.

7. New Windows

Like a new roof, new windows are also a great way to add curb appeal and make your home more attractive to buyers. In addition, new windows can also help to improve your home's energy efficiency, leading to lower energy bills and a higher resale value.

Making smart renovations is a great way to increase your home's value. If you're looking to sell in the future, these are some of the best renovations to make that will give you the most significant return on your investment.

How do you know which renovations buyers want to see?

According to a National Association of Home Builder's 2019 report of 4,000 prospective buyers, the following eleven features were on buyers' most wanted list:

Separate laundry room (91% preference)

Adding a separate laundry is a small-scale project, expected cost $1,000 to $5,000

Energy Efficiencies on Appliances and Windows (89% preference)

Energy-efficient windows can trim heating and cooling costs by 12%. Appliances can save upwards of $45 per year on utilities.

Patio (87% preference)

A concrete patio can run roughly $975 per 120 square feet.

Ceiling Fan (85% preference)

Adding ceiling fans is a small expense, costing around $466 per fixture with a light kit and remote control.

Garage storage space (85% preference)

You can expect to pay $2,025 - $2,363 for 380 square feet of garage storage.

Exterior lighting (85% preference)

Light fixtures run about $65 each.

Walk-in kitchen pantry (83% preference)

Each design varies in cost, but the report says buyers prefer walk-in pantries over the reach-in closet.

Hardwood Floors (83% preference)

Costs around $1,000 per 120 square feet for red oak flooring

Walk-In Closet in Master Bedroom

Cost varies by design. These are gaining popularity with first- and second-time homebuyers.

Eat-in kitchen 

Cost $1,000 to $10,000. These are especially attractive to families with children.

Dining Room

$1,000 - $6,000 to add ceiling fixtures or structural columns to open floor plan

I love renovations. If you plan to sell your home after a renovation, call me. I'd be happy to help you find a current value for your home. Contact us today!