There are two ways to think about remodeling projects that will boost your home’s value; you can get one or two major remodels done or opt for a bunch of small fixes. Depending on your budget and your timetable, one approach may be better for you than the other.
For instance, if you have an unfinished basement, maybe your dream when you first moved into your home was to refinish it. It never happened. But now that you are thinking about selling your home, you feel that a prospective buyer would really appreciate a full finished basement. Is that the remodeling project that you should do before selling?
On the other hand, you want to spend as little as possible to squeeze as much value out of your home. Maybe you would prefer to just spruce up the kitchen cabinets or repaint the house.
Whichever camp you fall into, here’s one thing to keep in mind: focus on high-impact areas. While it may be tempting to tackle every room, concentrating on key areas can yield the best return on investment. Here are some proven winners:
Kitchen Upgrades
- Minor Remodels: Instead of a complete overhaul, focus on updating key elements like countertops, cabinets, and appliances. A minor kitchen remodel often provides a high return on investment (ROI) by modernizing the space without the extensive cost of a full renovation.
- Open Concept: Removing non-load-bearing walls to create an open-concept layout can make your home feel larger and more modern, which is particularly appealing to buyers.
Bathroom Enhancements
- Updating Fixtures: Replacing outdated faucets, showerheads, and lighting with more contemporary options can refresh a bathroom’s look with minimal investment.
- Adding Modern Features: Consider installing a walk-in shower, dual-flush toilets, or underfloor heating. These additions not only improve the functionality of the bathroom but also appeal to buyers looking for luxury touches.
Flooring
Refinishing existing hardwood floors or installing new ones can dramatically improve the appeal of your home. Luxury vinyl planks (LVP) are another popular, durable option that offers a high ROI.
Storage Solutions
Adding built-in storage solutions, such as expanded closets or customized shelving, can enhance the functionality of your home, making it more attractive to potential buyers.
Exterior Improvements
- Siding and Paint: Repainting your home’s exterior or upgrading to new siding can significantly enhance its curb appeal. Consider adding stone veneers to parts of the exterior for an even more dramatic effect.
- Garage Doors and Entry Doors: Replacing your garage door and front entry door with newer, more energy-efficient models is one of the highest-ROI projects you can undertake.
- Decks and Patios: Creating or updating outdoor spaces like decks or patios can be a major selling point, especially in regions where outdoor living is popular. Consider adding features like built-in seating, fire pits, or even an outdoor kitchen.
- Landscaping: Simple landscaping upgrades like adding new plants, mulch, or a paved walkway can make a significant impact on your home’s first impression and value.
- Windows and Insulation: Upgrading to energy-efficient windows and adding insulation can not only reduce energy costs for the future homeowner but also increase your home’s market appeal.
A qualified agent with years of experience in the real estate market can help you determine the best improvements to make based on your particular market. When you’re ready to learn more, connect with us today. We’re happy to help!