Renovation Ideas to Boost Your Home's Value

by David Rizzuto

Renovating your home is a great way to improve both the form and function of your space and enhance your overall living experience. However, it is crucial to consider the impact certain renovations have to your home's value. Below are the top home renovation ideas that will maximize the return on your investment, and make your home more appealing to potential buyers.

The kitchen is always considered the heart of the home and is a major selling point for most buyers. 80% of home buyers prioritize the kitchen as one of the top three most important spaces in their new home. Although kitchen renovations can get expensive, smaller changes such as changing countertops and the backsplash, painting or restaining existing cabinets, changing hardware, and installing new appliances can dramatically modernize a kitchen. The average ROI for a kitchen renovation is between 50% and 70%, so it is a great way to increase your home's value.

After the kitchen, bathrooms are arguably the second most important space in a home for buyers. Modern, bright, and well laid out bathrooms are very attractive to almost all home buyers. Most buyers admit that they would pay more money for a house with updated bathrooms, rather than doing renovations themselves. Replacing vanities, updating fixtures, installing new tile, and enhancing lighting all have a positive impact. Maximizing space in smaller bathrooms and creating a spa-like feel is ideal. Bathroom renovations net an average ROI of up to 65%.

Landscaping and enhancing curb appeal have always been a more low cost way to easily increase your home's value. A fresh coat of exterior paint, a new front door and garage doors, a freshly sealed or redone driveway and walkway, lush greenery, a well manicured lawn, privacy fences, a welcoming front porch, and impressive exterior lighting will all improve your home's curb appeal and in turn, improve it's value. The average ROI is between 60% and 80% for landscaping improvements.

Finishing your basement can add tremendous value to your home, since it creates extra living space and improves the overall usable square footage in your home. Creating a large recreation room, home theater, guest bedroom, home office, or adding a wet bar or kitchenette would all be great choices. If you want to go the extra mile, creating a legal basement apartment with a separate entrance will greatly add to your home's value. On average, finishing your basement will net a 70% ROI.

If you are looking to renovate your home to improve its value, or you are considering a renovation before selling your home, contact me for my expert opinion.

Renovation Ideas to Boost Your Home's Value

by David Rizzuto

GET MORE INFORMATION