Top 5 Home Renovations that Yield the Best Return on Investment
What good is a kitchen or bathroom makeover if it’s not going to bring you any ROI? As a homeowner, it’s very important to invest in your property. This means making financial decisions that will enhance the worth of your property.
Unfortunately, some property owner overlook this and end up making renovations that not only bring in no ROI, but depreciate the property.
For instance, painting the walls certain colors or removing all the doors in the home may turn off home buyers. The type of projects you embark on should be useful to you and anyone else who owns your home after you.
With that in mind, it’s key to find home remodeling projects that will benefit you functionally and financially. Let’s review some of the projects we found to have the best return on investment.
1. Updating the Doors
This may surprise quite a few homeowners who may overlook the doors of their home. But it’s not just any doors that you want to update. We’re talking about the exterior doors.
For example, the garage door. This alone shows to bring in about 85% return on investment. So, if you have a garage door that’s outdated or in need of repair, then replacing it entirely may be a good idea.
There are many options available on the market, so consider choosing a style that’s trendier.
Also, we recommend updating your front door – after all, this and your garage door are what gives your property curb appeal. Stats show you can yield nearly 91% of the cost of installing a steel front door. Then if you opt for one made of fiberglass, you can recoup almost 78% of the cost.
2. Enhance Your Landscaping
Then to further improve your curb appeal, you can opt to enhance your landscaping. There are various ways you can pull this off. For one, you can try growing out your grass or installing grass if you have a hard time doing it naturally.
A plush green lawn is always inviting, especially when it’s plastered with beautiful shrubs, bushes and flowers.
Investing in your landscaping can potentially yield you a 105% return on investment. So, the more you put into it, the better. Just don’t overdo it with the lawn ornaments. Aim for functionality – install a walkway or cobble stones to make it easier for visitors to get to your front door without stepping on wet grass.
3. Kitchen Remodeling
You’ll rarely find a home buyer that’s not interested in a property with a lovely kitchen. In fact, this is one of the key areas of the home they look at before deciding.
This makes it that more important to enhance. Now, there are many ways you can spruce up the look and feel of your cooking space. But again, it’s key to focus on functionality, just as much as you do style.
For this reason, you want to update your cabinets with models that are spacious. opt for a finish and color with neutral tones. You may also want to consider a theme, such as big and bold. Here, you can install over-sized lighting fixtures and a farmhouse sink.
Or you can go with floor-to-ceiling cabinetry. The countertops are also one for functionality and design. Stone options continue to be a top choice, such as marble, quartz and granite.
After you update the appliances and furniture, you can potentially earn a 65% return on investment.
4. Bathroom Renovation
Another key area of the home buyers consider is the bathroom. All the bathrooms in your home are in question, so all of them should be properly updated.
Not only will this appease any home buyers you show your home to. But you’ll enjoy it for the months or years you spend in your home after the renovation. Maybe you’re not planning to sell anytime soon.
You can upgrade the fixtures in your master bathroom in many ways. This includes implementing a large shower with spa-like features, such as wall seats and jets. Curbless showers are also a thing now. Consider this if you have the space for one, as it will prove to be useful as you grow older.
While you may only get a 50% ROI for a bathroom remodel, it will more than likely help you make the final sale.
5. High-Efficiency Appliances
Energy consumption continues to be a problem in America. So, more and more homeowners are looking for ways to decrease their power bills. This includes purchasing appliances with higher efficiency.
This means they use less power, while still providing full functionality. You can opt for high-efficiency appliances for your kitchen and bathroom.
Some of the options on the market include dishwashers, trash compactors, faucets, toilets, lighting, fridge, stove, microwave and more.
Whatever you can plug into the wall will either have an efficient design or not.
Updating Your Kitchen and Bathroom
Both kitchen and bathroom remodeling are popular because of the ROI in money and functionality. It doesn’t matter whether you’re planning to sell now or in the far future. Updating these areas will ensure you get the most out of your home while you’re there.
At Fairfax Kitchen and Bath, we’ve helped countless homeowners with bathroom and kitchen remodeling. This includes fabricating and installing their cabinets and countertops.
We carry a variety of brands, which include Kitchenmaid, Fabuwood, Schrock Cabinets, Cambria, MSI and Forevermark. Our products come from the highest-quality brands, but without the high prices.
Why Choose Fairfax Kitchen and Bath
There are many fabricators and installers you can hire for your kitchen or bath renovations. But when you hire us, you get a one-stop shop for all your needs. You can visit our showroom to see in person which products you want to install.
We also provide a free in-house design consultation and estimate. The combination of our fast turnarounds and great rates makes us a top pick for customers in Vienna, Falls Church, Washington DC, Arlington and surrounding areas in Virginia.
Contact us today to learn more about our products and services!
I am a remodeling expert that loves to build beautiful homes. I write about our beautiful place in Fairfax and the homes that I have help over the years.