As you think about what home improvement project or renovation you want to tackle in your home, it’s prudent to consider what projects will generate the most ROI (return on investment) if you were to sell your home. After all, who wouldn’t want to get the most money back possible and really feel like they’ve made a good investment?
Putting your money in the right places will make all the difference as you try to sell your home now or down the line. It’s always a good idea to keep resale in the back of your mind as you make improvements. Let’s look at 10 home remodeling projects that will get you the highest ROI when selling your home.
1. Minor Kitchen Remodel
A kitchen remodel is one of your very best places to get a high ROI. It doesn’t have to be a complete overhaul, either. A new coat of paint can brighten up your space quickly. Refinishing the cabinets instead of replacing them can save a lot of cash. Hire Magnolia Home Remodeling Group to add new hardware and maybe a new Kohler faucet to bring it all together. If you have the budget, more energy-efficient Whirlpool stainless steel appliances can be a great addition. Have you been thinking about adding new Mohawk brand flooring to your kitchen area? This alone can make you feel like you have a new kitchen!
2. Manufactured Stone Veneer
Do you currently have vinyl siding, brick, or stucco? A manufactured stone veneer material may be a great option for the exterior of your home if you are ready for a big change. This type of exterior finish can bring an updated look and really change your home’s style. Get your neighbors’ heads to turn, and get noticed from the moment people pull up to your home!
3. Vinyl Siding Upgrade
If your home siding looks tired, potential homebuyers may just drive by before even walking in. You may want to think about either a vinyl siding update or fiber cement siding if you’re not quite ready to add stone. Be prepared to spend about $20,000 for these types of home remodeling projects performed by professionals, and then watch the value of your home rise.
This kind of update isn’t going to add living space or give you a new place for family dinners, but it will add amazing curb appeal and total pride as you drive up to your updated home. A fresh exterior may be just what you need!
4. Garage Door Replacement
Can you believe that a garage door replacement can give you around a 90-94 % return on your money? When you stand in front of your home, look at what a large space your garage door takes and how much of an impact it has on the entire look of your home. This can either make or break a potential buyer’s first impression.
5. Bathroom Renovation
Kitchens and bathrooms are normally the two best spaces to remodel when considering what kind of return you can get in the future, giving you 100% or more of a return! They are also the two spaces that cost the most to renovate, but working with Magnolia Home Remodeling Group will ensure that you get the highest-quality work for the price.
A bathroom renovation can make your bathroom more functional and usable for your family, especially if you have an older, funky layout. Take away the dated wallpaper or paint and give it a fresh look. Changing out shower doors is also a big improvement while still being able to keep costs low. Similarly, fresh cabinetry or a new backsplash in the kitchen can really change the look of the space.
6. Attic Bedroom Conversion
If you have a home where you can turn extra attic space into another room, you should absolutely add this option to the shortlist when considering home remodeling projects. The value of your home will be automatically increased due to the increase in the number of rooms.
For your purposes, this new attic space doesn’t have to be used as a bedroom, though. Instead, make it your new home office, a theater room, or a fun place for your teenagers to hang out. No matter what you use it for, that extra space will be amazing now and bring back almost all you spend should you decide to sell in the future.
7. Window Replacements
Changing out windows and possibly even window frames is an update that not many people want to make. It’s definitely not one of those “fun” updates. Changing out window frames can be a big change too. For example, you can have vinyl, fiberglass, aluminum, or wood frames.
Replacing your windows with Andersen or Marvin Windows will offer more energy-efficient options and can help with your energy bills. You will most likely love the more user-friendly features updated windows include. Things like the way you open your windows or even clean them may be completely different from what you’re used to.
8. Landscaping and Deck Additions
When you think about a home renovation, landscaping is often not included. Yet, a beautiful outdoor space adds to the entire feel of your home. The great news is that you can often get a 100% return on the money you spend on your landscaping or deck addition. You can’t really do better than that!
Adding to your curb appeal will bring buyers your way faster too. Landscaping is one of the very first things people see when they pull up to your house. So making a good impression from the get-go will only set you up for success. Combining fresh landscaping with new siding or a deck extension from Magnolia Home Remodeling Group can change the whole outdoor experience of your home.
Keep things simple, clean, and neat. Remember, if you go too overboard on the landscaping, potential buyers could be overwhelmed and worry about how much work will be involved to keep it up. Simple and beautiful is the key.
9. Touch Up Small Details
Touching up small areas of your home throughout the time you live in it is important and usually isn’t one of those home remodeling projects that upset too much of your family’s home life. Beautifully refinished hardwood floors are a great way to touch up the flooring. Replacing your front door if it’s dented and worn can be impactful. Even changing out hardware to make things look more modern can be a fun addition. Every little detail you add will work towards making your space amazing.
10. Basement Renovation
There’s nothing quite like a complete basement renovation. Being able to make your already existing square feet into something that your family can use daily will change the whole dynamic of your home.
Not all homes have a basement area, so if you do, take full advantage of it. Your teens will love it, your whole family will find ways to enjoy the space, and who knows – maybe you’ll choose to bring in a little cash flow and rent out the space.
When it’s time to sell, your real estate agent will be ecstatic to list extra bedrooms and other living space as a huge selling point.
What Factors Impact ROI?
Asking a real estate agent what factors impact ROI in your area is an excellent idea before spending the cash somewhere that won’t bring you much of a return. An agent can also give you information about the market and other factors that will affect your home value and return on investment.
In general, factors that impact the value of your home must include:
- Home size
- Upgrades and updates that have been completed
- Local market
- Home age and condition
- Neighborhood comps
Take Your Home to the Next Level with Magnolia Home Remodeling
Magnolia Home Remodeling Group can make your home remodeling projects happen. With the experience and skills necessary to take your investment and make it work for you in all the right ways, bringing you the best ROI is what we do. We love creating spaces that will work for your family now and down the road.
Call our Magnolia Home Remodeling Group team and get ready to make your home an even more special place for you and your loved ones to enjoy.