TOP 5 HOME IMPROVEMENTS WITH THE HIGHEST RETURN ON INVESTMENT
Are you selling your home, wanting to make improvements but you’re not sure what is the best investment to make? We’re going to count down 5 of the top investments you can make that will bring you the highest return when selling your home. Remember that not every investment listed here may be applicable to your home, and the returns mentioned are an average and may vary based on your specific market. The sources will be listed at the bottom.
#5 – UPDATING BATHROOMS (93.2% ROI)
Updated bathrooms are extremely attractive to potential buyers, and depending on your bathroom’s condition you may only need a few simple changes. Try repainting in a neutral color, updating hardware and faucets and replacing dated light fixtures. If you have a shower tub combo, and an additional tub in another bathroom, consider replacing it with a standard shower to modernize the space and make it appear larger. According to statistics, minor updates will yield a higher return than major renovations.
#4 – UPDATING HOUSE EXTERIOR (96% ROI)
Potential buyers will form an opinion on your home before they get inside. Updating your home’s exterior can create a major transformation and it can raise the perceived value of your property. If your home needs fresh paint, we recommend researching what colors are contemporary and popular with today’s buyers, and consulting with a professional if needed. Repainting or replacing dated front doors can make a big difference. Remove any dated awnings or window features to create an updated look. If you decide painting isn’t enough and want to fully replace old siding, you can get an even higher ROI at 103.6%
#3 – UPDATING KITCHEN (98.5% ROI)
We all know the kitchen is one of the biggest draws, or downfalls when it comes to selling a home. Buyers love an updated kitchen, and it can really add to the perceived value of your home even with small changes. If you’re looking for a quick and inexpensive fix, paint wood cabinets, replace hardware and lighting with contemporary colors and choices. Larger upgrades like new backsplash and countertops in contemporary patterns and materials, and appliances are worth the investment if your kitchen is very dated or in bad shape.
#2 – LANDSCAPING (100+% ROI)
Along with your actual house’s exterior, your landscaping will be the first thing buyers see when visiting your property. This first impression is extremely important and can make or break the sale. You want your landscaping to appear vibrant, welcoming and at the minimum maintained. Mow the lawn, clear out any overgrown shrubbery, plant flowers and bushes and repair any damaged walkways. Working with a landscaping professional can transform your home’s landscaping to look interesting, luxurious and most importantly, more valuable. This is a small investment that will be worth it during your sale, and you’ll attract even more potential buyers to come inside.
#1 – PROFESSIONAL STAGING (600+% ROI)
We’re not just saying this because we’re a home staging company. The truth is that a typical staging investment is 1-2% of the listing price, and staged homes sell anywhere between 6-20% higher than if they were sold unstaged. The statistics show that staging works and that the return on investment is huge! Staging is one of the simplest ways you can increase the perceived value of your home and receive multiple higher offers.
If you have a limited budget, you may be tempted to invest in some other home improvement that you think is more important than staging, but by just looking at the numbers you can see that staging is one of the most worthwhile investments you can make, with a higher return than almost all other home improvements.
Contact Us Today for your Staging Needs