According to the latest cost-vs-value report, some home improvements can bring a 93% ROI when it comes to selling your home. That means you can add almost the entire value of your renovation to your asking price.
Most of the most lucrative ones involve large renovation projects that cost a lot at the outset. Yet, these expensive options aren’t the only way to increase the value of your home.
Keep reading to find out what renovations increase home value the most without costing you an arm and a leg.
1. Minor Kitchen Improvements
A minor kitchen refurbishment is one of those home improvements that increase value and allow you to stay within your budget. If you want to save on your kitchen upgrade, you can repair or improve your kitchen’s existing features instead of replacing them.
For instance, you can paint your kitchen cabinets instead of replacing them. Other affordable fixes include installing efficient storage systems like a lazy Susan or upgrading your existing lighting fixtures.
2. Energy-Efficient Improvements
Improved energy efficiency is just one of the benefits of window replacement, new insulation, or solar innovations. All these innovations help decrease your utility bills and increase the comfort of your interior.
The prospect of lower bills improves your home’s appeal for prospective buyers, and new fixtures and fittings automatically increase its value. In this way, these improvements can bring a hefty renovation return on investment when you sell your house.
3. Smart Home Devices
Smart home tech adds energy savings and convenience to any home at an affordable price. Smart devices monitor and control various aspects of your dwelling and can even detect leaks in your water heater.
You can control smart-enabled appliances, doors, and lights remotely via a cell phone app. So, you never have to worry about wasting electricity or causing a fire by leaving things switched on while you’re out.
4. Painting Your Home
If you’re looking for cheap ways to increase home value, painting is a good option. A coat of paint will cover up any scratches and scuffs on your walls and give your home a good-as-new appearance.
When repainting your home, it’s important to stick to neutral tones as these are most popular among homebuyers.
5. New Flooring
A new floor is another one of the best home improvements for resale. Rip up your old carpet and install cost-effective laminate flooring or luxury vinyl planks.
These modern, durable flooring options are easy to install and can imitate the look of more expensive flooring options like hardwood or stone.
What Renovations Increase Home Value the Most for You?
Facts, figures, and opinions are all very well when it comes to analyzing home renovation ROIs, but what really matters most.
Only you can decide what renovations increase home value the most for you. Sometimes home improvements that do not add value to the sale price of your home can greatly increase your comfort and convenience.
For many homeowners, that’s worth more than any amount of profit.
Are you looking for more ideas on how to make your house a home? Explore our website for monbre of the best ways to personalize your decor.