No matter if you have plans to sell your house in the upcoming months or you just want to make a few improvements around your property, you must choose your home upgrades wisely. Some projects will increase your property value while others will offer very little in return. Here are some of the best home upgrades that will offer a high return on your investment (High ROI).
Minor Bathroom Remodels – Average ROI: 102%
A bathroom remodel is one of the best projects you can complete if you want to increase your home’s value. However, you do not need a major bathroom renovation to reap the rewards. Rather, a minor bathroom remodel is often enough to breathe new life to this space and create a functional, gorgeous room. For example, a fresh coat of paint, a new light fixture, improved hardware on the cupboards, and an updated shower head are small items but can greatly enhance the look and feel of this high-trafficked room.
New Garage Door – Average ROI: 98%
The curb appeal of your home is crucial. You want your property to make an instant impression on all individuals who walk by, particularly if you are selling the property in the future. A new garage door may be best to immediately give your home an updated and well-maintained look. Plus, you can consider doors with advanced technology, such as smart features, that will make this upgrade even more appealing.
New Front Door – Average ROI: 91%
The front door is the entry point into your house. If this area is well maintained, it will attract and entice potential buyers. It will make all of your guests anxious and excited to get inside and see the remainder of your home. Plus, a new front door can be a fairly easy project to complete and there are dozens of options available, making it easy to find the perfect product for your home.
As you choose a new front door, do your research. The type of material, colour, and design on the door can all contribute to the amount of return you receive as well.
Window Replacement – Average ROI: 89%
New windows are an excellent way to improve the look of your property. Plus, new windows are more energy-efficient than older glass panes and will help to improve your home’s energy usage and save you money each month on your energy bills.
Many individuals avoid new windows as these products can have a high upfront cost, particularly for larger windows. However, keep in mind that there are many benefits aside from just a high ROI for these products.
Major Kitchen Remodel – Average ROI: 59%
There are some kitchens where you simply need to start over. The kitchen may have a poor layout, appliances may be old, and the flooring, counters, and other areas are worn out. There may also be little seating to gather in the room. In these instances, a major kitchen remodel may be necessary to help you create the space that you want, and that will best cater to all of your home’s guests.
As you consider a major kitchen remodel, think about items including new cabinets, a sink, appliances, an island, countertops, flooring, paint, and more. This is also a project where you should hire a professional and be aware that it can take several weeks or even months to complete.
While there are many projects you can complete that will increase your home’s value like a fresh coat of paint or improving your home’s landscaping, the above items will help you receive the greatest return on your investment. The upfront cost for these projects may seem large but you will reap the rewards when you sell.