Whether you’re looking to make some quality of life improvements to your Capital Region home or sell in the near future, it’s important to consider which renovation projects offer the best return on investment (ROI). A project with a good ROI is one that will increase the value of your home and allow you to recoup a large percentage of the costs should you decide to sell. Read on for a breakdown of different home renovations that can help you get the biggest ROI.
Improve Your Kitchen With Major or Minor Renovations
The kitchen is the heart of the home – the place where the whole family comes together to cook and build connections. As such, it’s no surprise that kitchen remodels remain one of the top options if you want a high ROI.
Unless you have a very outdated kitchen, homeowners should consider a minor kitchen remodel. Start with smaller, less expensive projects that can help to transform your kitchen, such as updated lighting, new countertops or cabinets, a change in paint color or flooring, or modern appliances. You’ll want to choose renovations that you can enjoy in the coming years and will make a difference when it’s time to sell.
Update Your Bathroom’s Appearance and Focus on Functionality
Similar to the kitchen, the bathroom is another area of the home where small improvements can have a big impact. We recommend taking a look at the space and determining what can be fixed or updated. For example, you may want to replace cracked tiles, add a fresh coat of paint, replace the faucets or showerhead, or even get new plumbing fixtures that will modernize the bathroom.
As always, it’s important to stick to a budget and remember that even small bathroom renovations can provide a good ROI in the long run.
Transform the Basement Into a Welcoming Living Space
Don’t neglect that unfinished basement! Instead, make it into a comfortable space that can serve as a potential extra bedroom or a second living room for entertaining guests. A finished basement that qualifies as a bedroom can be a major selling point, but take note that it must include an egress (escape) window.
Increase Your Home’s Curb Appeal With Landscaping
The first thing home buyers will see when they come to your house is the outdoor space, which makes landscaping an essential part of the overall curb appeal. To increase your home’s value, you should invest in your lawn and garden. Keep the front and back yard mowed, remove the weeds, plant trees or flowers, fix up any walkways, and make it visually appealing.
Take It a Step Further With a New Garage Door
If you have a garage, then that’s another important factor to consider when improving your home’s curb appeal. New garage doors feature a high ROI because they are typically energy efficient, provide extra security, and can enhance the look of your home too. When combined with landscaping, you’ll have a property that’ll leave potential home buyers with a positive impression.
Add an Office Space That Remote Workers Will Love
Does your home have a spare room that you can repurpose? You may want to do some renovations and convert it into a dedicated office space. Working from home has grown in popularity in recent years, and as a result, people are looking for houses with an office that’s ready for them. Plus, if having a home office also benefits you, then that’s another reason why the renovation is well worth the investment.
Start Planning Now and Maximize Your Investment
These are just a few of the best home improvement projects that can lead to a good ROI in the future. Others, such as updating your house’s flooring and changing out the light fixtures, can help as well, but what you should do depends on the state of your home.
We hope this breakdown will guide you to the right home renovations and get you the best ROI.
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