Whether you’re itching to invest in your home, ready for some changes, or you’re prepping to place your house on the market, you want to make sure that the project you choose is money well spent. Thankfully, there are tried and true home improvements that buyers respond to and homeowners recoup. Let’s take a look at 10 hight return on investment improvements buyers love.
1. Bathroom Remodel
If you’re looking to invest in your home, a bathroom remodel should be on your list of prospective projects. Not only will you get to enjoy your dream bathroom, but according to Remodeling magazine’s 2019 Cost vs Value Report, you’ll see a 67 percent return on your investment when you go to sell.
2. Minor Kitchen Remodel
A full kitchen remodel may not be in your budget, but giving your kitchen a facelift and updating the features can pay off big when you go to sell. Remodeling reports that minor kitchen remodels recoup a whopping 80.5 percent when you go to sell. Think cabinet resurfacing, new countertops, updated appliances, and a new sink with hardware when targeting your kitchen for a minor update.
3. Finish the Basement
Americans love their basements, so it should go without saying that a finished basement makes for a more attractive home. Not only does a finished basement add livable square footage to your home, but it can also push your home up into a higher price bracket when it comes time to sell.
4. Entry Door Replacement
You’ve heard about the almighty curb appeal in real estate, and when potential buyers are met with a steel front entry door, they’re sure to be impressed. Steel doors are known for their energy efficiency, in addition to being secure and durable. Investing in a steel entry door can result in an almost 75 percent return.
5. Manufactured Stone Veneer
If you’ve ever had the pleasure of seeing someone replace their siding with stone veneer, you know how impactful the change a simple exterior siding material can be. Available in a multitude of colors, stone veneer creates a clean, sophisticated look to the exterior of your home, with neutral colors and added textures. And if you choose manufactured stone veneer, you can see an almost 95 percent return when you go to sell.
6. Siding Replacement
If stone isn’t your thing, consider replacing your existing siding. If painting didn’t give you the desired effect, or you’re starting to see some wear and tear, it’s time to replace your siding. Not to worry, however, you’ll see an almost 76 percent return on your investment.
7. Window Replacement
Old windows can be a drain on your energy savings, so window replacement is definitely about more than just curb appeal. If you opt for vinyl windows with insulated glass, you can recover almost 74 percent of the cost.
8. Deck Addition
If you want to increase home value — and be able to enjoy the improvement yourself — a deck addition may be just the thing for you. Not only does a deck addition create a space for you to relax and enjoy your home, but it will also appeal to future buyers. Depending on the material — wood or composite — you’ll enjoy a 70 to 75 percent return on your investment when you go to sell.
9. Garage Door Replacement
ROI improvements that increase home value aren’t always large in scale. A simple garage door replacement will result in a 97.5 percent on the investment. If you’re able to reuse hardware from your current garage door system, you’ll save even more, but start shopping because this is a quick and easy project to tackle.
10. Replace Hardware and Fixtures
If you’re unable to invest thousands of dollars into improvement projects, you still have viable options to increase your home value. Start by updating your kitchen and bathroom hardware to something sleek and updated. From there, target your sink hardware and consider updating light fixtures.
No matter your price point, being smart about home improvements can both increase your home value and result in a high return on investment when it comes time to sell.
