Are you looking to add value to your home? Investing in the right renovations can do just that and, even better, bring a great return on investment (ROI). Whether you plan to stay in your home for many years or hope to sell soon and want the best possible sale price, these top renovation ideas will help you get there. From minor updates like new windows or updating kitchen cabinets to larger projects such as adding a master suite or building an outdoor living space, this guide will provide valuable insight into which improvements offer the most significant ROI.
Minor Bathroom Remodel
A minor bathroom remodel is one of the best ways to add value and appeal to your home, with a return on investment of 102%. Updating fittings, fixtures, and finishes can give an outdated bathroom a fresh look without a significant investment. Consider painting walls, installing a new vanity, and updating existing features.
Major Bathroom Remodel
This renovation is more expensive but can potentially yield significant returns. Installing a new shower or bathtub, replacing tile and fixtures, and updating the vanity will make your bathroom look and feel like a spa retreat. If you’re looking for even more of an upgrade, consider adding a heated towel rack or installing radiant floor heating for extra comfort. For the main bathroom, you can expect an ROI of 93.2%.
Minor Kitchen Remodel
Renovating your kitchen can be costly, but with a few minor updates, you can still make it look and feel new without a complete overhaul. Refreshing cabinets by restaining or painting them is an inexpensive way to make them look brand new. Adding a tile backsplash or replacing cabinet door hardware can add personality and style. The average best return on investment for a minor kitchen remodel is 98.5%.
Major Kitchen Remodel
A major kitchen renovation can return an average best return on investment home improvement of 80% to 91%. Replacing cabinets, countertops, and flooring will give your kitchen a much-needed facelift while making it more functional with better storage options. Installing new appliances will also help increase your home’s value.
Attic Bedroom Conversion
If you have an unfinished attic or are just looking for another bedroom, converting the space into a living area can offer great ROI at a rate of 73%. Insulate the walls and floors to make them more comfortable and inviting. Install ample lighting, create a closet if there isn’t one already, and add windows for natural light. You can quickly turn the space into a cozy bedroom with a bit of planning and effort.
Basement Remodel
Finishing your basement can offer a great ROI of 90.1%. Converting it into a functional living area with bedrooms, bathrooms, and entertainment areas will make the space more inviting for guests. Consider adding insulation to keep the space warm in the winter and cool in the summer and installing windows for natural light.
Replace Windows
Windows can add aesthetic appeal and energy efficiency to your home. Investing in new windows not only improves insulation but also reduces the amount of noise coming from outside. Choose double-pane or triple-pane glass for maximum efficiency and look for options with UV protection to keep fading at bay. When the home is sold at least one year after the replacement is finalized, sellers can expect to see 89.6% for the best return on investment home improvement.
Flooring Update
Updating your flooring is a great way to give your home a fresh new look. Choose materials that are durable and easy to maintain, like vinyl or laminate. Hardwood floors are always a classic choice if you’re looking for something more luxurious. Refinishing hardwood floors can net up to 147% best return on investment home improvement if you already have hardwood floors.
HVAC System Upgrade
Investing in a new HVAC system can be expensive, but it’s worth the cost for increased energy efficiency. Investing in an Energy Star-certified unit will pay off with lower monthly utility bills in the long run. Also, look for features like zone control or programmable thermostats to reduce your energy consumption further. In general, an HVAC system upgrade nets a 71% return on investment.
Upgrade Home Insulation
If you’ve been noticing an uptick in your home’s heating and cooling costs, it is worth having your insulation inspected. You can expect an ROI of 100% if a replacement or addition is necessary.
Landscaping
Landscaping can bring life and beauty to your outdoor space. Installing a fence or patio will give your yard more structure and appeal, while new perennials and shrubs will brighten the pathways. The key is to focus on creating a look that’s inviting and pleasing to the eye. Landscaping usually sees the best return on investment home improvement of 100%.
Entry Door Replacement
Replacing the front door is one of the most cost-effective ways to increase your home’s value. It creates a better entryway, and new doors are more energy-efficient and secure. Consider installing steel or fiberglass doors as they offer exceptional durability and style compared to wood. On average, you can expect a 95.5% return on investment home improvement.
Deck, Patio, or Porch Addition
Adding a deck, patio, or porch can improve form and function. Not only does it provide an excellent outdoor living space for entertaining guests, but it also brings a 90.3% best return on investment home improvement. Choose materials that are both durable and easy to maintain like composite or vinyl decks.
Investing in the right home improvement projects gives you a great return on investment and makes your home more comfortable and inviting. Research different options to determine which suits your needs best and will yield the highest returns. With careful planning and effort, you’ll be able to enjoy the results for years to come.
Ready to buy or sell a home? Reach out to experienced Realtor Krista Gross for expert guidance. Krista is a local real estate professional serving the Pullman, Washington area. She’d be happy to help advise you at any point in your real estate journey.
