Top Home Upgrades that Have the Highest ROI
Do you have many upgrades on your to-do list but aren't sure where to start? Find out the home upgrades that have the highest return on investment and start there!
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Let’s face it, the point of giving your home a facelift is to see a return on investment (ROI). We would all like to see our time, money and elbow grease pay off or else we wouldn’t do it because ain’t nobody got time for that. In this article, we’ll talk about some home improvements and tips from HGTV on how to maximize the return when it comes time to resell your home.
In this article, I’ll share with you:
- Slight bathroom upgrades that won’t break the bank
- Small kitchen remodeling
- Landscaping and outdoor updates
- Secrets to transforming your attic
Minor Bathroom Remodeling
Start by taking on smaller projects and tackling a very deep cleaning before resorting to a clean slate. Scrub anything and everything to remove grime and this alone will turn your bathroom around. Remove dated wall coverings and paper to apply a fresh coat of paint that knocks years off your bathroom. Reglaze your tub for about $300-$400 to give it a newer finish or re-caulk it. Let’s look at prices before going nuts and replacing everything. Choosing to replace the tub, tile the surround areas, replacing the floor, toilet, sink, vanity, and fixtures will cost you about $10,500 according to HGTV. This gives you an average of $10,700 at resale and a recoup rate of 102 percent.
Minor Kitchen Remodeling
Give your kitchen a minor cosmetic update and not an intensely different floorplan. The average resale of remodeling a kitchen ranges from $14,913 to $14,691 with a recoup rate of 98.5 percent. Spending about $15,000 on a kitchen update covers re-facing cabinets and drawers, a new wall oven, cooktop, sink and fixtures, laminate countertops, and resilient flooring. Avoid buying new cabinets by sanding and painting the ones you own to brighten up the kitchen. Simple upgrades that will make the worlds of difference is just changing the drapes and window molding!
Landscaping & Outdoor Design
This may be more important than you’d think. According to the American Nursery Landscape Association, the average homeowner spends about $3,502 on landscaping and $1,465 on a designer! Now the designer may not be necessary because you can ask a local garden center for free design services or tips. You can even ask the neighbor what works best for them and if they have any helpful tricks up their sleeves! A splash of color always turns heads and catches eyes so pick your favorite color and vary the height of plants for maximum impact. If you’re having the opposite problem and have overgrown greenery or shrubs, dig out the shears and get hacking. Replace the shrubbery with flowering foundation plants and include a charming focal point such as a walkway or a fountain. The average return at resale just by stepping up your landscaping game is 100 percent.
Converting the Attic
Do you have a dingy attic with thousands of boxes of who knows what? Maximizing this space by converting it into a bedroom comes with many benefits. First, assuming you’d add attic insulation, this would lower your utility bills. The second benefit is having another bedroom to list at resale! The average attic bedroom in a two or three bedroom house costs $39,188 and returns $36,649 so the return at resale is about 93.5 percent. Pretty decent!
Remodeling a room in your home can be either major or minor depending on how you approach it. You can get a fresh start which will cost you more or bring out the cleaning supplies and tools to get scrubbing inside or snipping outside. Either way, being smart in your approach can land you a high ROI rate. Find your next home to make changes to that’ll increase the value immensely!