Sometimes, remodelling a home is purely for personal satisfaction — you like your home, and you want to improve it. But more often than not, there’s a bit more to it than that. Whether the intention is to sell straight from the jump or you have your eye on the idea for down the road, the return on investment (ROI) you get from a renovation project is often a part of discussions involving home improvement.
While the enjoyment you get out of your home takes precedence over anything else, the investment you’re making shouldn’t be ignored, either.
If you’re weighing your options about where to start or even where to end up in your renovation process, and ROI is one of the big-ticket items for you, there are a few options you may want to look a bit deeper into before you get started. Whether you’re moving soon or it’s just on your radar, getting a good ROI on your renovations can’t hurt.
Here are some of the renovations you can do on your home that bring in the highest ROI.
1. Kitchen Remodel
Buyers are always on the lookout for newer kitchens with the most up-to-date appliances and fixtures. If you’re looking to boost the value of your home, a modern kitchen should be high on your list of priorities.
From the countertops and cabinets to the appliances themselves, having a sleek, ordered, well-functioning kitchen usually can’t do you wrong.
2. Outdoor Entertaining
Having outdoor space is one thing, but having outdoor entertaining and unique landscaping is entirely another. Curb appeal and landscaping already do a lot for property value, so imagine how much intentional outdoor design does all around the property.
Adding features like a fire pit, outdoor kitchens, and strategic gardening can do so much more than meets the eye, and they all tend to pay off well.
3. Curb Appeal
Speaking of the great outdoors, curb appeal is another big ROI renovation you can take a look at. Buyers love to see a home that makes a good impression from the jump, and you can balance that with your own original touch, too.
Oftentimes, keeping up curb appeal is even more about maintenance than it is about renovations. Gardening, keeping a trim lawn, and cleaning debris from any visible space are some of the best ways to increase your curb appeal, and therefore your property value.
4. Adding Square Footage
One of the best ways to improve your property value is to bring about renovations that increase the square footage of your home. The beauty of this is that you can add the square footage however it would work best in your home and your life.
Adding something like a sunroom, a recreation space, or a home gym can add value to your home while also giving you the space for something you’ve always wanted.
5. Making Small Fixes
Small fixes can add up over time. While it might seem like a bit of an easy renovation journey, it can actually do more for your home than meets the eye. One of the main culprits of disintegrating home value is simple wear and tear that comes with poor upkeep.
Fixing little things like cracks, holes, and leaks can be the secret ROI add-up you’ve been searching for.
6. Bathroom Renovations
Old bathrooms and aging fixtures can be eyesores, and taking care of that aspect with a sleek, simple remodel can do wonders for your home’s value. While bathrooms can be a bit of a project to undertake, it can pay off when the time comes for you to sell.
7. Adding a Bedroom
Just like adding square footage can increase the value of your home automatically, adding sleeping quarters and raising the bedroom count of your home can also add value, as well as give you the convenience and functionality of another bedroom at your disposal.
Adding a bedroom can sometimes increase your square footage — depending on where you put it and how you install it — but regardless, the functionality of adding another bedroom contributes great ROI potential to your home.
8. Finishing Your Basement
In the same theme of adding square footage or adding space through a bedroom, finishing a basement adds more functional space to your home that you can use in the present, as well as a new area to show off at the time you decide to sell.
Basements can be used for almost any purpose. Add a kitchen or bar, a separate apartment, or even an additional bedroom, and you’ll definitely add more value to your home.
If you didn’t have a finished basement before, you’ll get to enjoy one for the first time. Plus, once a basement is finished, it’s set in stone as a part of your home, which means it’s a renovation that’s here to stay and won’t go in and out with the trends.
9. Kitchen Islands
Islands can be an easy addition to put in, but they add a lot of functionality to a space, and therefore pay off well in your final ROI.
Kitchen islands offer more workspace, a more structural design to your movement within the kitchen, and even additional seating if you go the route of bar stools. They can be an easy addition, but kitchen islands bring a kitchen into the spacious, modern style that so many new buyers are looking for. They work for both form and function.
Renovation With ROI in Mind
While home renovations are primarily for you, as the owner, thinking ahead isn’t such a bad idea. By keeping ROI in mind while you remodel, you can increase the style and functionality of your home for your present self, and for your future pockets as you tailor your home to the market.
Renovations that add space, functionality, and sleek design tend to be the best when it comes to increasing the ROI. Best of all, you have the power to tackle all of those points in your renovation. All you need to do is decide on a direction.
