7 Home Renovations That Will Add Value To Your Home

 

Whether you're preparing for a move or simply looking to update your home, remodeling can be a huge undertaking—so it's important to know whether the reward will be worth the effort. 

If you’re planning to sell your home in the near future, it’s important to choose renovations that will appeal to buyers and add value to your home. One of the best ways to do this is by choosing projects that offer a good return on investment. Here are seven home renovations that offer the best ROI for resale:

1. Minor Bathroom Remodel

An updated bathroom is a major selling point for any home. There are essentially two types of rooms that sell houses: kitchens and bathrooms. As it turns out, however, the greatest home improvement ROI coincides with remodeling the bathrooms. According to a report by the National Association of the Remodeling Industry, realtors estimate that homeowners can recover up to 57% of the bathroom renovation cost if they sell their homes.

Instead of initiating a little project in each room, conducting a minor bathroom remodel may be better. Try replacing the shower head with a rain shower; it’s a feature most homebuyers will appreciate. Also, try replacing the vanity, as nobody wants to feel like they are using someone else’s old bathroom. At the same time, try updating the lighting to make things brighter.

2. Landscaping

Nothing beats the option of entertaining outdoors. New landscaping could be just what the home needs to look fresh and appealing. The aesthetic appeal may actually be the first thing buyers see, so make a good first impression and update the landscaping. No matter your budget, there are plenty of ways to update your backyard, porch, or patio. There’s no need to go overboard. The best landscaping designs are the simplest, but the “lines” need to be trimmed and clean. A good landscaping job should look nice, but also not suggest a great deal of work is to be done.

3. Minor Kitchen Remodel

The kitchen is the hub of the home, so functionality is a top priority. Remodeling a kitchen can be exciting and satisfying, especially when it's designed to meet your needs and desires. Start by replacing the existing appliances with better, newer ones. Next, instead of replacing the cabinets, try refinishing the existing ones. A fresh coat of paint or gloss could make old cabinets look new, and that, combined with new hardware, can completely transform a kitchen.

According to the National Association of the Remodeling Industry's 2019 remodeling impact report, realtors estimate that homeowners can recover up to 52% of the cost of a kitchen upgrade upon selling the home. 

4. Replace Old Windows with Energy-efficient Ones

According to the National Association of Realtors, the average ROI in energy-efficient replacement windows is around 68%. Energy-efficient windows are a great way to add value to your home while also reducing your energy bills. 

5. Update Your Home’s HVAC

Your home's heating, ventilation, and air conditioning (HVAC) are the components that keep everything operating. These are some of the most critical items to maintain. In addition, realtors estimate that homeowners can recover 85% of the cost of an HVAC replacement if they sell their homes.

6. New Paint for your Home

A fresh coat of paint can do wonders for the appearance of your home. It’s also a relatively inexpensive way to add value to your home. Whether you’re looking to spruce up the inside or outside of your home, painting is an easy and affordable way to make it look new again. On average nationally we find that interior house paintings yield a $4k+ value bump while exterior colors provide 55%. 

7. Update Your Light Fixtures

Lighting is one of the simplest renovations that will add value to your home. You'll be amazed by how well-placed pools of warm light can make your home inviting. Consider the design, as well as function, when choosing the right light fixtures for your rooms.

If you’re planning to sell your home in the near future, it’s important to consider which renovations will offer the best return on investment.