For most homeowners, you want to get the best return on your investment when you decide to sell your home. According to renowned real estate agent Suzanne McGhee, getting the highest ROI ultimately comes down to a number of factors including location, market conditions, and proximity to transportation – you have the ability to control the reputation of your home.
As not all renovations are alike, it is important to decide what areas need help in to help you get the best return.
Here are the five best home improvements that will bring you the highest ROI.
Upgrading your floor is common, but the necessary home improvement that will quickly gain more than 50% in return. Wall-to-wall carpets might feel cozy for some parts of the house, but it is undesirable and outdated for areas like the dining room. Tiles or hardwood flooring are the popular choices, but laminate may also work.
If you’ve already renovated your flooring and don’t plan on changing it, consider having your home professionally cleaned.
The easiest way to update your home is to get rid of old fixtures and hardware. Updating your light fixtures or cabinet handles are easy to replace and can modernize any room instantly. Just be sure to choose contemporary and neutral finishes to help interest a broad variety of tastes.
Bathrooms are always in demand for style, and it is no surprise that an updating bathroom brings in nearly 75-100% return on investment. While these spaces are highly functional, Homebuyers desire to have the spa-like space. Stick to neutral colors and materials.
A modern kitchen is up high on the wish list of many buyers. While this may be costly, you will gain as much as 100% return on your investment. If you cannot give your entire kitchen a facelift, consider changing the countertop, replacing outdated fixtures or polishing your floors.
The best way to increase the overall value of your home is to add space. Wither it’s a two-story addition or basemen, the more room, the better.
“Whether you plan to sell or in it for the long haul, making smart renovations will ensure that you get the highest ROI when the time comes”, added Denk, a long time top producing real estate professional.
Have your renovated your home lately? Comment below and let us know!