7 Home Renovations That Offer the Best ROI for Resale
Before you dive into a home renovation project, think about the goal – are you looking to add long-term functionality now, or just make improvements that will help you sell for more? If selling is in your future, you could spend the next few weeks renovating your home to make it look better, but are you really getting the best ROI?
As a homeowner, you want the best ROI. What you don’t necessarily need are the biggest bucks—instead, you want to invest in improvements that give you the most bang for your buck.
“The higher the resale price, the more profit you can make and the less of a renovation project you’ll have to undertake.” If you don’t sell it soon after, it may be hard to get top dollar for it and you might end up with a big renovation bill.
The right simple home renovation is a great investment in your future. If you’re looking to get top dollar when selling your home in the future, there are some renovations that’ll give you the highest ROI.
Here are the top seven home renovation tips that offer the greatest return on investment.
Get a new paint job! You can save big bucks on your home value by making a few updates like a fresh coat of paint.
Upgrade your windows! Clean out your old windows and install energy-efficient ones instead.
Add new light fixtures. It’s a small investment, but these can be a huge selling point if you’re selling.
Add a porch or patio. This adds curb appeal and boosts your resale value.
Modernizing the kitchen or bath makes sense.
Update and add storage for all those odds and ends in the bathroom. A fresh vanity, paint and storage can go a long way.
Update your closet to look good, then add storage to get the most use out of it
Keep in mind, Home renovation costs can vary depending on a number of factors such as the location of the home, the size of the home, and the extent of the renovations being undertaken. It’s always a good idea to consult your real estate professional if you’re thinking of renovating your home in order to get the highest ROI when you sell.
Based on this list of renovations, what home projects do you want to tackle on your home?
Reach out to me for a remodeling impact report or a copy of my Preferred Vendor list.