The smartest thing a homeowner can do is to repair the home before selling. However, some renovation projects might not add much value to your home and therefore become poor investments. To carefully choose what to renovate, one should follow ROI statistics. According to the most recent ones, here are the home improvements with the
The smartest thing a homeowner can do is to repair the home before selling. However, some renovation projects might not add much value to your home and therefore become poor investments. To carefully choose what to renovate, one should follow ROI statistics. According to the most recent ones, here are the home improvements with the highest return.
Doors and Windows Upgrade
Modern home buyers prefer 2 things: energy efficiency and curb appeal. The best way to combine these two is by replacing windows and doors or upgrade. Vinyl windows can reduce energy bills to 15%, so investigating the newest trends on the window market is definitely worth it. This renovation project always has a high ROI. If your budget allows, consider installing new windows as well such as skylights in the kitchen or bay and bow in the living area. Stunning views and more natural light will surely seal the deal on your buyers.
Besides windows, owners should also consider the look of their exterior doors. Whether front or patio, don’t let your door look a century old on the house-viewing day. If you are on a tight budget, at least repaint the frames and make them look fresher. When we talk about exterior doors, one cannot but mention garage doors. Currently with the most popular home improvement, replacing your garage door has a 98% ROI. This means you’ll only lose a couple of bucks (enough for coffee and doughnut) if you purchase a totally new garage door.
Kitchen and Bathroom
Nobody wants to move into a home with broken bathroom tiles and leaky kitchen pipes. This is why sellers always invest in renovating these 2 areas. However, don’t go for full replacements since it might not result in a high return. Instead, replace things which make the biggest impressions on buyers: repaint kitchen cabinets, purchase shinier countertops like marble or laminate, add colorful wallpapers and repaint or replace the windows.
Even though it wasn’t so popular in the past, these days a new roof is on every buyer’s wish list. With an ROI of 68% (if wisely done), a new roof can impress buyers so much they will be willing to pay the very next day. Realtors state how many negotiations were won just because of a simple roof replacement. This is because the market just started to realize the importance of quality roofing. If you have a cheap roof, leaks and even ceiling collapse can damage your home to an unimaginable extent.
Deck and Patio
Installing a hardwood deck has an ROI of 89%. However, don’t ever choose low quality faux wood for this job. The differences are obvious and buyers will have an upper hand, sometimes this kind of deck has even decreased the price. Apart from replacing the flooring, add some decorations and comfortable furniture on the deck. Everybody is vulnerable to beautiful things, so having swinging chairs, lightning and a cool table in your outside entertainment area will amaze viewers and increase pricing.