Whether you plan to sell your home after a few months or just want to make simple upgrades, you can boost your home remodel ROI in several ways. Since not all upgrades have the same impacts, some improvements can cost more than their worth. Choosing upgrades that can pay off when you’re selling your home is important. Here are some of the home improvement projects with the highest returns.
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Front Door Upgrade
First impressions of your home can attract or drive away buyers, and your front door is among the first things to get noticed. The front door can impact your curb appeal, so door replacement services are a prudent investment. A luxurious front door can also recoup the investment when selling your home.
You can find an option that fits your budget since there are many trends in the market. Modern homeowners prefer different materials like glass panels and steel. Choosing a metallic front door with a great design can make your home look contemporary, especially as more people embrace the industrial trend.
If investing in a brand-new door is out of your budget range, a fresh coat of paint can be a quick fix. Typically, pop color and new hardware on an old door can significantly affect the overall curb appeal. If your budget allows, you can transform the entryway to make your home’s first impressions more dramatic.
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Renovate The Kitchen
Creating a functional and practical kitchen increases your home’s value and makes the room more comfortable and fun for the homeowner. Depending on the level of your upgrades, you can recoup almost all of your kitchen remodel investment. Major kitchen upgrades can be quite expensive, but you can ensure the highest returns by refacing the cabinets and installing new granite countertops, hardware, and appliances.
Kitchen remodeling is at the top of the list for most homeowners who want to add value to their properties. Open kitchen concepts are more popular since they are versatile and can accommodate different family needs. Besides technology integration, more kitchen trends are taking the design industry by storm, like streamlined designs with open shelving, stacked backsplash tiles, and flooring made of natural stone. On the other hand, quartz countertops are great for a luxurious kitchen, but granite is a less expensive option.
High-end upgrades involve opening the kitchen’s layout so it flows into the living room. The rooms are separated from each other in most traditional designs; hence it’s important to restructure the layout. Removing the walls gives your home a fresh vibe and makes it look modern. Regardless, it’s important to consult an experienced engineer before demolishing a load-bearing wall.
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Hardwood Flooring
Wood flooring is a vital home upgrade that adds significant value. Installing new hardwood flooring can give you almost twice the return on investment. It also elevates the appearance and makes your home feel more connected and uniform.
If you have excellent DIY skills, installing a new floor may not be challenging. But depending on the scale of your project, you may have to move all your items out of the room until completion. This can disrupt your lifestyle, especially if you spend most of your time at home. Regardless, DIY installation ensures the highest returns on investment since you’ve eliminated labor costs. Also, you can plan the installation around your schedule.
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Window Replacement
Windows can yield high returns on most real estate projects. Typically, replacing old windows with new designs can give you up to three-quarters of your initial investment. While adding new windows may not always transform your home’s appearance, they have numerous indirect cost-effective benefits. Modern windows are energy efficient and often help keep energy bills down, and are easier to maintain. That’s why most new homeowners are willing to pay more for homes with energy-efficient window replacements.
Whether you live in freezing or high-humidity areas, you can find several window replacement options to suit your needs. Double-hung windows in the dining and kitchen spaces are more popular, while picture windows are most popular in the living rooms. However, it’s prudent to consider the design aesthetics around your home before choosing your new windows. Most importantly, protection from weather elements should be your priority.
Window replacements are most important when undertaking major renovation projects since you must comply with energy efficiency rules and regulations. Modern windows help you meet the regulatory requirements and make your home more energy efficient.
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Fresh Paint
Adding a new coat of paint can be a cost-effective home upgrade that transforms your spaces instantly. Typically, a home with new paint can attract more buyers than one with old and bland surfaces. The investment can pay off when selling your home since it’ll spend less time on the market and attract serious buyers. Moreover, you can use paint in various ways to improve the appeal and value of your property.
While paint can be cheap, it significantly transforms your home. For instance, you can add a neutral or dramatic color to make a dated home look new and welcoming.
You can paint the kitchen cabinets when you don’t have the budget for a full kitchen remodel to ensure your home looks new. If you don’t plan to live in your home forever, painting the surfaces in a neutral color can be strategic. This is because neutral shades appeal to more people, so getting an interested buyer won’t be a problem. In addition, don’t skip the exteriors when repainting your interior spaces. Painting your exterior with attractive colors that blend with your home design can make your home more appealing and help you sell the home faster.
Endnote
Ultimately, your neighborhood’s market determines a home upgrade’s economic impact. However, neutral upgrades can appeal to more people and ensure a higher return on investment. If you plan to live in your current home for several years, it’s okay to go with home upgrades that fit your lifestyle and preferences. On the other hand, increasing your home upgrade ROI is critical if you plan to sell your home. Home improvements with the highest ROI often increase the demand for a property, affecting the selling price and time spent on the market.
