Purchasing a home is one of the most considerable investments you’ll make, and whether you plan to stay long-term or put it on the market quickly, adding value results in a huge payoff. When deciding which home improvements to choose, it’s imperative to consider the one that will provide the highest return on investment (ROI).
Home renovations are an excellent way to add to your home’s value, and while most won’t give you a 100% ROI, many will provide up to 70%. By putting work into an appreciating asset, you are improving both your ROI and quality of life simultaneously with home improvements.
These renovations don’t have to be costly or time-consuming, either. Complete renovations come with significant price tags, yet they won’t add much more value than minor ones. No one wants to sink additional capital into a project and not recoup it all when they sell. Many projects will make a substantial difference, from kitchen and bathroom updates to creating functional spaces. These projects don’t take too much time or expense, so there is less stress.
To help you begin, the experts with Berry Boyd Group
have compiled a list of the best home improvement projects for a high ROI. Read on for some tips on creating compelling spaces for buyers.
Complete kitchen renovations
Kitchen renovations top the list of home improvements that increase your property’s value and ROI. For most people, the kitchen is the heart of the home, and buyers are on the hunt for a culinary oasis where they can create delicious meals and heartwarming memories. Complete kitchen renovations are time-consuming and require a makeshift kitchen, which can be a nightmare that buyers don’t want to deal with. Most are willing to pay more for your completed upscale kitchen to avoid this, especially if you use high-end luxury finishes. The kitchen typically offers the best return on investment for home improvements.
Minor kitchen renovations
If you don’t have the time or energy to do a complete renovation, there are minor ways that you can add significant value. If your kitchen has solid bones already, work with the existing space and add luxury upgrades to create a new look and increase value.
To do this, consider replacing old countertops with quartz or granite, installing a trendy backsplash in modern designs, resurfacing the cabinets, adding functional storage like shelves, adding pendant lighting over the sink, and selecting sleek stainless steel appliances. These minor renovations add significant value to your home and breathe new life into a space that appeals to buyers.
Minor bathroom upgrades
A bathroom upgrade is another excellent home improvement project that yields a high ROI. Like a kitchen, a bathroom project doesn’t have to be significant, depending on your budget and time frame. Smaller changes like adding new shower tiles, a separate tub, or updating the cabinets and sinks will create a serene and luxurious spa feeling, significantly increasing appeal and value. Other changes you can make include installing new flooring, repainting the cabinets, and updating the fixtures with modern ones. Don’t underestimate a fresh coat of neutral paint on the walls, as it’s one of the easiest ways to add value to your home.
Upgrade your landscaping
Your home’s curb appeal is the first thing potential buyers notice, so landscaping is an excellent way to breathe new life into existing spaces and create appeal. If you already have landscaping and flower beds, ensure they are freshly mulched and debris-free. Add colorful flowers and shrubs to create dimension and vibrancy in your spaces. These simple tips require little work and are easy to maintain, making them excellent projects. Additional home exterior improvements are as simple as cleaning or power washing walkways. Best of all, they increase your home’s appeal and ROI.
Renovate your entryway
In addition to your landscaping, creating an appealing focal point with your entryway is an excellent way to increase your home’s appeal. A simple task like painting the front door a fresh color will enhance the exterior’s appearance and create an eye-catching area. Choose a color complementary to your home’s style and materials, like stone or brick. If you have an older door that’s seen better days, replace it with something sleek and modern to create a luxurious look that brightens the area. Keep any furniture around the area simple and refined.
Livable spaces aren’t limited to the interior, and many buyers appreciate outdoor entertainment areas. If you have an existing deck or patio, simple improvements like greenery will amplify the appearance and create more appeal. Add ceramic planters in varying colors and designs to create dimension and tie into the ambiance. New furniture and accent lighting help set the mood and create a warm, appealing space.
Ready to get started on your selling journey?
Are you interested in preparing your Flower Mound real estate
for its market debut? Contact the Berry Boyd Group
if you’re prepared to discuss your home’s value and how to achieve a significant ROI. With a dedication to integrity and building strong client relationships, you can feel confident that our team will guide you toward your real estate goals.