With homeowners sitting on their largest financial investment, it’s crucial to think about a few things when it comes time to selling or updating your home. Home improvement projects not only give your space a refresh, but also increase the value of your home.
At The Gresham Group, we encourage our clients with a few improvement projects to prioritize for their biggest return.
Here are five home improvements with the highest return on investments:
Kitchen Remodel
The kitchen is the heart of the home, and a well-designed, functional kitchen can make a big difference in the value of your property. Minor kitchen remodels, such as updating countertops, cabinets, and appliances can provide a huge return on investment. While this is a costly update, the return will be worth it when it comes time to sell your house.
Bathroom Remodel
A bathroom remodel is another great way to add value to your home. Upgrading the fixtures, replacing the flooring, and adding new lighting can give your bathroom a fresh, modern look. A mid-range bathroom remodel can provide a return on investment of up to 67%. This is another expensive improvement but can have a huge return on investment.
Energy-Efficient Upgrades
Energy-efficient upgrades, such as installing new windows, upgrading insulation, and replacing old appliances with energy-efficient models, can save you money on your utility bills and increase the value of your home. These upgrades can are not as noticeable as the previous improvements but still create great value for your home.
Landscaping
Curb appeal is essential when it comes to selling your home, and landscaping is one of the easiest and most affordable ways to enhance your property’s curb appeal. Great-looking landscaping can add significant value to your home, as well as make it look more welcoming to guests.
Paint and Décor
A fresh coat of paint, new light fixtures, and updated decor can give your home a modern, updated look without breaking the bank. This upgrade is not going to add a ton of financial value to your home but can add a sense of welcome and comfort.
Keep in mind, focusing on upcoming home improvement projects might also correlate with your home’s age and condition.Whether you are looking for a complete remodel or something easy and cheap, there are always ways to improve the value of your home.
Check out more statistical information from Realtor.com if you’re considering a major home remodel or improvement project.
