From upgrading your kitchen to developing your outdoor living space, home improvements offer a way to maximize your family’s enjoyment of your home while (hopefully) boosting resale value. However, many home improvements carry significant costs—and particularly if you are planning to move soon, you may be wondering which upgrades offer the strongest ROI. While specific amounts will vary depending on the market in your area and your home’s price range, here are the home improvements that generally add the most to your resale value - Minor bathroom remodels. According to HGTV, minor bathroom remodels deliver an average return at resale of 102 percent. This may entail replacing fixtures and flooring, re-caulking the tub, and repainting the walls. - Upgraded landscaping. The front yard is one of the first things potential buyers will notice about your home, so sprucing up your landscaping is a powerful way to quickly boost resale value. By taking simple steps such as trimming overgrown shrubbery, planting some colorful flowers, and adding fresh sod, you may be able to recoup approximately 100% of your costs at resale. - Minor kitchen remodels. Renovating a kitchen can get very expensive depending on the appliances, cabinets, and countertops you choose. However, making some simpler cosmetic upgrades may yield an average return at resale of 98 percent. This may include re-facing cabinets and drawers, replacing old appliances, and installing new lighting to make the space look bright and airy. - Exterior improvements. As with landscaping, upgrading your home’s exterior is a great way to boost curb appeal. For example, you may consider fresh paint, replacing siding, swapping out worn down railings, or adding columns to a porch to give it a more stately look. With improvements such as these, you might expect an average return of 95 percent. | |
