Owning a home is one of the best investments you can make. Choosing the best home renovations that have high return on investment (ROI) will improve the appreciation of your home. If you’re looking to fix up your home consider these renovations. Increase your daily satisfaction and maximize your investment when it comes to selling.
#1: Refinishing Hardwood Floors
ROI = 100% Glowing hardwood floors make a lasting impression and immediate impact for buyers entering a home. 2-3 days of professional sanding is a smart home renovation that pays off. Replacing carpet with wood flooring has a 107% ROI.
#2: New Roof
ROI = 78% Deferred maintenance to roofs can cost you a sale. Buyers are more likely to pass on your home or demand repair credits when there are significant costs like roof replacement. If your roof is nearing its end of life consider replacement for a smoother sale in the future.
#3: Kitchen Renovation (Major or Minor)
ROI = 67% and 88% Having a functional and updated kitchen is top for most homeowners and buyers. While remodeling a kitchen is not the best financial investment it will surely increase your happiness at home. 95% of those surveyed for the National Association of Realtors’ Remodeling Impact Report said they felt a greater sense of enjoyment when at home due to a kitchen renovation. Improving your kitchen’s aesthetic and functionality will bring a smile when at home and help buyers fall in love later when you decide to sell. If budget or time prevents a major renovation, consider minor updates to surfaces like adding new hardware, replacing countertops with quartz, adding new backsplash or fresh coat of paint to the cabinets.
#4: New Windows (Vinyl or Wood)
ROI = 83% and 90% Replacing windows improves your home’s efficiency, saving heating and cooling costs, while bringing an updated look to the home both inside and out. Look at housing trends and new construction for window style ideas.
#5: New Front Door
ROI = 90% Your home’s front door greets you when you come home and is the first impression for guests. Create an inviting appeal with a quality front door while also improving efficiency. Consider unique wood variants or painting with bolder colors to add more charm.
Real estate brokers sell houses for a living and see the difference between successful sales and difficult houses. Josh knows the best home renovations and has other articles for tips to sell your home fasterand smart energy efficient upgrades. Contact Josh today if you’re interested in learning more or need help selling your Portland Oregon home.