Everyone has an idea of their dream house. Maybe it has an elaborate built in shelf for your trading cards. Maybe there is a slide to go downstairs. While these are both awesome, they might not be part of the next owners dreams. When you are ready to invest some money into the house, consider this list of renovations that have the best return on investment (ROI).
Minor Bathroom Update
You’ll see a trend throughout the list. There is a breaking point where an investment will start to cost more than you will get back. That’s why there are lots of items that are a “minor” remodel or update. These are that happy medium ground that still makes an updated room scream that its shiny and new, but it will cost you less in the long run.
To replace tubs, tile and caulk in a bathroom might run a little over $1000 and you can expect a return rate of about 102% (at current market values).
I’m 100% certain that when you walk up to someones front door, you take notice of their grass or the plants growing, if their siding is dirty or if their walk is swept. Everyone does. So when buyers are shopping for homes, you want their attention to be focused on your yard. You want it to yell at them and tell them to come check out the rest of your awesome home! DIY landscaping can be cheaper than paying a professional, but it can take longer and you might accidentally find the sprinklers with your shovel like I definitely didn’t do. There is no right answer when you decide if you want to pay a pro or be a weekend warrior. There is, however a good payoff for your investments when you sell your home, like 100%-good.
Major Kitchen Remodel
If your home is like ours, the kitchen is the absolute heart of it. Maybe because we love food, but that is besides the point. Consider updating your dated appliances, cabinets from circa 1990 and the flooring. Tile is amazing, but even quality vinyl will really lift the rooms appeal. Most of our clients head straight for the kitchen to try and picture themselves slaving over the stove. You try it. Are yo able to picture plenty of work space and uncluttered counters? If not, think about pairing down some of the obstacles. The average ROI for kitchen remodeling is about 91%. Not quite as high as the other projects, but definitely one of the BIGGEST selling points.
Just like the landscaping, a fresh coat of paint or updated shutters and fresh siding can really draw people in. And since you are taking the time to improve your home, do the things that will get you the most in the long run. Current market trends predict a ROI for exterior improvements at about 95%. And let’s be honest, that particle compressed siding the color of avocados… has to go.