As your primary residence, it’s important that you create a home that works best for you and your family. But as a long-term investment, many homeowners want to know which home renovations will have the greatest return on investment. When it comes to home renovation, not all improvements are created equal.
We’ve identified a few of these home upgrades below, but the timing of these changes is an important factor. You might prioritize different improvements if you’re planning to continue to live in the home versus if you’re prepping to sell. Also, your region and neighborhood also play a role, as your local market may be willing to pay for some improvements more than others.
In general, if you’re making improvements to a home that you plan to live in, consider investing in:
Updating the bathrooms
The bathroom is a place where you can make some quick improvements that add value to your home. While renovation costs can easily spin out of control if you start looking at imported tile and custom bathtubs, there are a few relatively inexpensive options that can really update a space. Look at options like reglazing your tub for a fresh look, as well as swapping out dated light fixtures and adding a new coat of paint.
Minor kitchen remodel
The kitchen is another place where relatively small improvements can make a big difference in making the space feel modern and fresh. Consider updates to the appliances and countertops. A fresh coat of paint on the walls and cabinetry can also really brighten a space.
Adding useable square footage
Consider updating your attic or basement with drywall, recessed lighting, and updated flooring to instantly add livable square footage to your house without the need for a costly addition. Plus, insulating your attic will also cut down your utility bills.
If you’re prepping your house to sell, you should also consider look at:
Landscaping to improve curb appeal
You don’t get a second chance to make a great first impression. So when you’re ready to put your house on the market, take a moment to walk out front and assess. Are there weeds? Overgrown bushes? Could the lawn use a trim? Doing a bit of simple landscaping can make a huge difference to prospective buyers coming to see your house for the first time.
Similar to landscaping, painting the exterior or interior of your house is a relatively inexpensive way to transform the appearance of your home. A fresh coat of paint hides nicks and scuffs, and can make spaces feel clean and new.