When choosing which areas of the home would be more comfortable after an upgrade, it’s common to prioritize areas that would provide the most return on investment (ROI). Sure, you may not be selling your house anytime soon, but that doesn’t change the desire to increase its value for when that time comes. If you’re currently deciding on home renovations, here’s a list of the ones that could bring the highest return on your investment when it comes time to sell.
Kitchen and/or Bathroom Remodel
The kitchen is often the heart of the home, and having a modern and updated kitchen is a huge benefit when reselling. Home buyers often look for updated kitchens and bathrooms on first inspection.
Keep your home renovations minor if your top priority is the ROI. Features like a fresh coat of paint on the cabinets, a new counter island, and an updated tile backsplash can make a big difference without breaking the bank. Make sure to keep your colors neutral to keep from having to repaint later.
If your home has one full bath and one half-bath, opt for adding an additional half bath off a living room, or adding a shower or tub to the half bath to greatly increase its value.
Refinishing or Installing Wood Floors
According to the 2022 Remodeling Impact Report by the National Association of Realtors (NAR), refinishing your wood floors can bring in over 100% of ROI, making this project high on the list for many home renovations. If you don’t have wood flooring, the close second for best ROI is installing new flooring. It doesn’t have to be wood if that’s too costly. There’s always the luxury vinyl flooring option that can look just as sleek and modern, but at a lower price. Even better, most homeowners report a feeling of improved comfort and satisfaction living in their space after this update.
Converting a Basement or Attic into a Living Space
Adding to the livable space in your home can be helpful if you’ve got a growing family, or if you’re now working from home. Home renovations that include turning a basement or attic into another living space, office, or bedroom, also bring a high ROI. While this can be one of the more costly projects, the return, thankfully, proves to be anywhere from 75 to 86 percent. The extra space can help you make your home more suitable for your needs now, and it can help you sell, later.
Repainting or Updating the Siding on the Home’s Exterior
New siding can instantly boost the curb appeal of your home and make it look newer and more modern. Your ROI will depend on the type of material you choose to use, and we can talk about options if you choose to go this route.
Taylor Made Can Help with Your Home Renovations
Taylor Made Custom Contracting is your best source for home remodeling in the Baltimore, MD area. We offer award-winning services for additions, bathrooms, basements, and aging-in-place projects, and much more. In addition, decades of experience in the industry make us uniquely qualified to handle any challenge. Our clients can truly feel confident choosing us every time. To schedule a consultation for your dream remodeling project, contact us today through our website here or give us a call at (410) 557-0322. We can’t wait to hear about your home remodeling ideas!