Which Renovations Will Bring Me the Biggest ROI?

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Whether you are planning to renovate your home sometime soon or you want to sell in the near future, there are a few things you might want to keep in mind as you explore and plan your projects. What you want for your home should be your very first priority as you renovate, but it’s also a good idea to keep your return on investment in mind for when the time comes to sell.

Especially if you think you might want to move soon, it might be a good idea to toss some of these projects into the mix simply to increase the value of your home. While some of these projects are small and manageable, some of them are larger projects that might only be worth your while if they truly call your name.

Here are just a few of the renovations that can bring you the biggest return on investment.

1.Kitchen Remodeling

The kitchen is one of the central points in the home that everybody uses and gravitates towards, so it makes sense that remodeling the kitchen can have a large return on investment.

A kitchen remodel can return anywhere from 50% to 75% of what you spend, which can make your investment and time well worth it. In fact, plenty of experts recommend that you should probably go for the kitchen if you’re torn between remodeling your kitchen and your bathroom.

2. Garage Door Upgrades

There are so many homes, especially older ones, with outdated garage doors that let cold air in, malfunction frequently, and look unsightly. If this sounds like your home, you might want to get a move on replacing the garage door and updating it with one that functions better.

Since this is a great idea for resale value regardless, doing it sooner rather than later is probably a good option, so you can at least enjoy a better garage experience while you’re still in your current home.

3. Solar Power

Especially considering the energy-grading system becoming a bit stricter in many places, with more regulations passed to encourage energy efficiency, there has never been a better time to make homes and buildings more energy-efficient.

Solar panels can be a great way to get started on this goal. Not only is it environmentally sustainable, but it also pays off in the long run in terms of the financial investment. This can definitely increase the resale value of your home if you plan to move, or help you out with your bills if you plan to stick around.

4. Lighting

Whether you want to replace the lighting in your home with more environmentally friendly options like LEDs, or you want to update some old-fashioned fixtures, lighting can be a much less tedious renovation process than you might expect.

There are also plenty of affordable and quick ways to do it, so you can absolutely replace your lighting and get a quick and satisfying return on investment.

5. Plumbing Fixes

This ROI can come into your life from the moment you dive in and actually get things fixed. Everything from faulty water pressure to leaky sinks and faucets can be a true inconvenience in your life, and getting them fixed can be an extreme improvement for your own convenience.

It can also increase the value of your property if you plan to sell, since most prospective homeowners want a turnkey experience that doesn’t require immediate repairs after closing.

6. Small Details

This one is probably a fan favorite because, most of the time, you don’t need to call in a professional to help you out. There are so many small details that can impact your enjoyment of your home and its appearance for others who might one day come to visit as potential buyers.

For example, having cracks in the wall, dents, discoloration, leaks, and drafts can all make the space look a little unsightly or even feel colder or waste your money on heat or air conditioning. The primary investment you make on these fixes is the investment of your time, but you will probably find it’s well worth it.

7. Curb Appeal

Curb appeal is one of the best ways to increase your property value without having to do much structural heavy lifting. From painting the outside of your home to keeping a trimmed lawn, this tip is mostly about maintenance and staying on top of things, but it can definitely yield a serious payoff in the future. Plus, who doesn’t love living in a home that looks wonderful from the inside out?

8. Go Green

Although this one has a little bit to do with curb appeal, it is slightly more specific. Taking charge of your landscaping and the plants you keep around your home can be a great way to increase your own enjoyment of your home and increase the property value.

If you’re new to gardening or landscaping, you can begin with younger shrubs and plants, rely on details like stepping stones, and pick perennials for your primary plants. This can even be a fun activity for those who enjoy it.

9. New Floors

If your floors are old, peeling, or simply dated-looking, one great renovation you can do is to replace the floor and find a new one that goes much better with your space and is of higher quality. If you happen to have wood floors, you can even refinish them so you don’t need to rip them up completely. Most real estate experts cite this as a great idea for consistent ROI.

10. Clean Carpets

The great news about this tip is that it usually doesn’t take any more than a day to clean the carpets in your home. Whether you rent a carpet cleaner or call in a professional to get the job done, having clean carpets can increase your enjoyment of the carpeted areas in your home and make things look fresh and clean for potential buyers if you plan to sell.

11. Fresh Paint

As always, one age-old favorite you can rely on is tossing a fresh coat of paint onto the walls to make things look fresh, new, and rejuvenated. Usually, if you plan to sell, white or colors in the white family are going to be your best option. This is because they offer a bright and cheerful neutrality that many people look for.

Getting the Biggest ROI on Your Renovation

No matter what your motivation is for renovating your home, there are so many ways you can get a great return on your investment, no matter where you plan to go next. Whether you stick around a little longer or you’re headed off to your next adventure, you can enjoy your time in your home while you have it and prepare to pass it along to the next inhabitants.