Whether or not you are planning to sell your property soon, or you just want to enjoy a few simple upgrades, we thought we would share some home renovations that offer the best ROI for resale. We think it is noteworthy that not all home improvements are created equal. For instance, transforming a bathroom into a spa-like space may sound appealing, the cost may not pay for itself when you are ready to sell. On the other hand, replacing gutters or repairing a leaky roof, is more likely to increase a home’s value. Maybe not quite as luxurious but a smarter decision when it comes to ROI.
The two rooms that REALLY make an impact when it comes to selling houses are kitchens and bathrooms. The greatest home improvement ROI happens to coincide with remodeling the bathrooms. It may be more beneficial to conduct a minor bathroom remodel instead of initiating little projects in each room. It’s most likely unnecessary to completely gut the entire room, rather giving each bathroom a face lift could go a long way. Try replacing the shower head with a rain shower; it’s a feature most homebuyers will appreciate. Replacing the vanity will give the bathroom a “new feeling” After all, nobody wants to feel like they are using someone else’s old bathroom. At the same time, brighten things up by updating the lighting.
Minor Bathroom Remodel
- Average Cost: $10,500
- Average Return: $10,700
- ROI:0%
Curb appeal helps sell homes! Few rehabbing dollars go farther than those spent on the outside of the house. New landscaping could be just what the home needs to look fresh and appealing. Making a good first impression is key, and the landscaping is just the place to begin when it comes to first impressions. There’s no need to go overboard. The best landscaping designs are the simplest, focusing on the lines ensuring they are trimmed and clean. A good landscaping job should look nice, but also NOT suggest a great deal of work is to be done.
Landscaping
- Average Cost: $4,900
- Average Return: $4,900
- ROI:0%
A minor kitchen remodel can boost home improvement ROI without demolishing an entire room. Instead, try minor upgrades that make a big difference. Start by replacing the existing appliances with newer, improved models. Consider refinishing existing cabinets instead of replacing them. A fresh coat of paint or gloss could make old cabinets look new, and that, combined with new hardware, can completely transform a kitchen.
Kitchen Remodel
- Average Cost:$15,000
- Average Return:$14,600
- ROI:5%
As home prices continue to increase, now is the perfect time to invest in home renovations that offer the best ROI for resale. We would love to begin a conversation with you regarding your home. One thing we like to say at Ash Quinn Realty, is “it’s just a conversation” Connect with us on social at Facebook and Instagram
