Top 6 Renovations That Have The Most Positive Impact On Home Values
Making upgrades and renovations to your home can greatly increase its value and appeal to potential buyers. However, not all renovations provide the same boost in home value. Some renovations have a much higher return on investment than others.
This article will examine the top 6 renovations that real estate experts say have the biggest positive impact on resale value. Read on to see which home remodels are worth the investment.
Kitchen Remodelling Provides a High Return on Investment
Kitchen renovations are labour-intensive, but they pay off when you sell your home. Luxury kitchen remodels return 80% of their cost. Even a simpler remodel gives you 65% back.
To make your kitchen look great, change cabinets, countertops, sinks, and appliances. Get new floors, add an island, improve lights, and make the space bigger. A modern kitchen makes people want to buy your home.
Bathroom Upgrades Also Increase Home Value Substantially
Remodelling a bathroom is like giving it a makeover. If you upgrade things like the sink, tiles, and vanity, your bathroom will look new. Experts say you should focus on the main bathroom, as changing it can make a big difference.
Usually, you can get back 65% of the money you spend on a regular upgrade and 80% if it’s a fancy one. So, fixing up your bathroom is a smart investment!
Roof Replacement Prevents Future Issues for Buyers
Replacing an aging or damaged roof is a must before listing your home. While a new roof adds minimal value itself, it prevents buyer objections later on. Potential buyers will be wary of an old roof that may need repairs.
Take care of this major cost and hassle by installing a new roof. On average, a new roof returns about 60% of costs at resale. Consult local home remodelers on the best roofing materials for your region.
Replacing the Garage Door Improves Curb Appeal
Don’t underestimate the impact of small renovations outside the home. Replacing an old or dated garage door with a modern style adds curb appeal. Increasing curb appeal can catch potential buyers’ eyes and ultimately increase the home’s value.
A new garage door offers a great return, adding approximately 97% of project costs to the value of the home. Opt for an insulated steel garage door in a neutral colour. This affordable upgrade takes only a day or two to complete.
Hardwood Floors Make a Home Appear Modern and Spacious
Old carpets and vinyl floors can make a home look old. You can change them to new hardwood floors. Hardwood floors make a home look modern and clean. They’re durable and easy to maintain. When you sell your home, you can recoup your hardwood floor investment. Hardwood is a good choice for main rooms.
Adding a Deck Creates Valuable Outdoor Living Space
Adding a deck or porch to the rear of your home extends your living space outdoors. Home buyers love outdoor living features to enjoy meals alfresco or relax in the fresh air. Build a spacious wood deck for entertaining, or add a covered porch for year-round use.
A new deck adds about 70% of costs to the home’s resale value. Bonus points if your deck takes advantage of attractive backyard views. Be sure to obtain needed permits from your city before starting construction.
Conclusion
When tackling home renovations, carefully weigh the return on investment and appeal to buyers. Kitchen and bathroom remodels, hardwood flooring, new roofing and additions like decks are your best bets for boosting resale value. But all home improvements require careful planning and execution.
Consult trusted home remodelers in your area to ensure your renovations are done properly, on budget and on time. With strategic renovations that complement your home’s style and layout, you can maximize your home’s value for future sales.
