When considering home improvements, it's tempting to think that every renovation will add value to your home. However, not all projects provide homeowners' expected return on investment (ROI). It's essential to weigh the cost of the renovation against how long you plan to enjoy it before selling. For homeowners who plan to stay in their property for several years, indulging in a high-end kitchen or bathroom remodel can enhance day-to-day living while still appealing to future luxury homebuyers. However, if you plan to sell soon, the focus should shift toward resale value.
Highly personalized changes, like converting a bedroom into a specialized hobby room, can limit your pool of interested buyers because they don't align with the practical needs of future homeowners. The key is to focus on universally appealing projects to generate a higher ROI.
Bathroom remodels that pay off
A well-executed bathroom remodel can do wonders for your home's value. Minor bathroom remodels can yield up to a 60% ROI, according to the 2023 Cost vs. Value Report. The good news is that you don't need to overhaul the entire bathroom to achieve these returns. Swapping out old fixtures for modern, sleek designs or replacing a shower curtain with a glass shower door are simple upgrades to refresh the space. Fixtures like faucets, lighting, and towel racks can be easily updated to give the bathroom a more contemporary feel without breaking the bank.
If you decide to tackle more significant updates, consider replacing old tiles with marble or large-format tiles. These materials provide a high-end look and minimize grout lines, creating a cleaner and more luxurious appearance. This kind of tile replacement can have a significant impact, especially if your bathroom currently feels outdated or cramped.
If you decide to tackle more significant updates, consider replacing old tiles with marble or large-format tiles. These materials provide a high-end look and minimize grout lines, creating a cleaner and more luxurious appearance. This kind of tile replacement can have a significant impact, especially if your bathroom currently feels outdated or cramped.
Cooking up value
The kitchen is one of the most critical spaces to upgrade for resale value. Remodeling Magazine's 2023 report shows that a minor kitchen remodel can recoup about 77.6% of its cost. Fortunately, you don't need to gut the entire kitchen to see these kinds of returns. In many cases, updating old appliances and fixtures can give the kitchen a much-needed facelift. Sleek, hidden appliances and cabinetry are a growing trend, adding a seamless, modern look to kitchens that potential buyers love.
Before considering a complete cabinet replacement, consider more budget-friendly options like painting or refinishing your existing cabinets. A fresh coat of paint in trendy earth tones can transform the kitchen's appearance without the hefty price tag of new cabinetry. These simpler updates can breathe new life into your kitchen while ensuring a solid return when it's time to sell.
Before considering a complete cabinet replacement, consider more budget-friendly options like painting or refinishing your existing cabinets. A fresh coat of paint in trendy earth tones can transform the kitchen's appearance without the hefty price tag of new cabinetry. These simpler updates can breathe new life into your kitchen while ensuring a solid return when it's time to sell.
Curb appeal that counts
Landscaping is one of the most effective ways to boost your home's value while enhancing its visual appeal. Well-designed landscaping can provide an impressive ROI of up to 100%, according to the National Association of Realtors' 2023 Remodeling Impact Report. With sustainability rising, many homeowners opt for eco-friendly features like drought-tolerant gardens and rainwater collection systems. These appeal to environmentally conscious buyers and lower maintenance costs in the long run.
When planning your landscaping, consider choosing low-maintenance plants and flowers that thrive in the local climate. Native plants are ideal because they require less water and care, making them a perfect choice for homeowners looking for an easy-care solution. Additionally, native plants create a landscape that feels more connected to the natural environment. By focusing on sustainable, low-maintenance options, you'll invest in beautiful landscaping that requires minimal upkeep, making your home more attractive to potential buyers.
When planning your landscaping, consider choosing low-maintenance plants and flowers that thrive in the local climate. Native plants are ideal because they require less water and care, making them a perfect choice for homeowners looking for an easy-care solution. Additionally, native plants create a landscape that feels more connected to the natural environment. By focusing on sustainable, low-maintenance options, you'll invest in beautiful landscaping that requires minimal upkeep, making your home more attractive to potential buyers.
Outdoor living spaces
Outdoor spaces have increasingly become an extension of the home, offering another "room" for living and entertaining. Adding features like a deck or patio can significantly enhance your home's appeal, and outdoor kitchens, in particular, have been shown to recoup up to 71% of their cost, according to Homelight's 2023 survey of top real estate agents.
Consider using similar colors, textures, and materials in both spaces to create a seamless flow between your indoor and outdoor areas. It blurs the lines between inside and out, making your home feel larger and more cohesive. Cozying up these outdoor areas with privacy shrubs, soft lighting, and comfortable seating can further elevate their appeal. With more buyers looking to maximize their outdoor living, these spaces are key selling points.
Consider using similar colors, textures, and materials in both spaces to create a seamless flow between your indoor and outdoor areas. It blurs the lines between inside and out, making your home feel larger and more cohesive. Cozying up these outdoor areas with privacy shrubs, soft lighting, and comfortable seating can further elevate their appeal. With more buyers looking to maximize their outdoor living, these spaces are key selling points.
A fresh look
A fresh coat of paint is one of the simplest and most cost-effective ways to transform a home. According to a report from HomeLight's Top Agent Insights for 2023, interior painting can provide an average ROI of 107%. A new color can make a room feel refreshed and updated, appealing to buyers looking for a move-in-ready home. When choosing colors, soothing earth tones and shades of blue are trending as the top interior choices. These colors create a calming, welcoming atmosphere that potential buyers often gravitate toward.
Dark blue has emerged as the most popular exterior paint color, providing a modern and sophisticated look. It contrasts beautifully with natural landscapes, making it a standout choice for curb appeal. Whether you're updating a single room or the entire house, painting is an affordable improvement that can significantly impact appearance and resale value.
Dark blue has emerged as the most popular exterior paint color, providing a modern and sophisticated look. It contrasts beautifully with natural landscapes, making it a standout choice for curb appeal. Whether you're updating a single room or the entire house, painting is an affordable improvement that can significantly impact appearance and resale value.
Boosting value with smart home technology
Smart home technology is quickly becoming a must-have for modern buyers. The ability to control appliances, thermostats, lights, and more from your smartphone adds convenience and energy efficiency to any home. With a smart system, homeowners can adjust the temperature or lighting even when not at home, making it easier to manage energy use and lower utility bills.
One of the most appealing features is the ability to remotely monitor and communicate with visitors at your door. Smart doorbells and security systems allow homeowners to speak with guests, receive packages, and keep an eye on their property from anywhere. The added security is highly attractive to tech-savvy buyers.
One of the most appealing features is the ability to remotely monitor and communicate with visitors at your door. Smart doorbells and security systems allow homeowners to speak with guests, receive packages, and keep an eye on their property from anywhere. The added security is highly attractive to tech-savvy buyers.
Partner with an expert
When maximizing the return on your home improvements, having the right real estate agent by your side can make all the difference. Peggy Dowcett is well-versed in marketing everything from new construction and condominiums to residential resale properties. Her reputation for exceeding the needs of her clients ensures that your home is in expert hands, from preparation to closing. If you're considering selling a house in Concord, MA, Peggy is ready to guide you through the process and help you achieve the best possible results.
