Best Home Improvement Projects to Increase Your Return on Investment

Best Home Improvement Projects to Increase Your Return on Investment

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If you’re planning to sell your home either soon or sometime in the next few years, you’re probably thinking about ways you can make improvements to your home while also increasing its value. It makes sense. When you invest in something, you hope to get more out of it than you put in. It’s no different when it comes to investing money in your house, which is already a significant investment.

In many cases, any upgrades you make that improve your home’s function or aesthetics will also improve the value, but there are some projects that come with a much higher return than others do. And these are the areas that you should prioritize when it comes to your renovation and home improvement projects.

It’s not an exact science, but there are some projects that are more appreciated by buyers and, therefore, come with a higher return. Read on to learn the best home improvements to make when looking to increase your home’s value and gain a higher return on investment.

Discuss Your Plans with Your Real Estate Agent

If you’re planning to sell your house sooner rather than later but are planning to first do renovations and then hire a realtor in Bowmanville, you should strongly consider switching those around. Before spending significant amounts of money on improving your home, it’s best to get the opinion of someone who knows the ins and outs of your local housing market.

Realtors know the market conditions in your area better than anyone, and they know what local buyers are prioritizing better than anyone. So, it makes sense to get their opinion and ensure you’re investing your dollars in the right areas.

Garage Door

You might think little of your garage aside from the fact that you pull your car out of it in the morning and pull it back in in the evening, but the condition of your garage door can seriously affect the price you get for your home. If your garage door looks a little worse for the wear, these impacts both curb appeal and home value.

Garages are essential features of the home, even if we don’t give them much attention. They provide a lot of additional storage, and storage is something buyers highly prize.

Depending on the condition of your garage door, you might be able to get by with a coat of paint, but there’s good reason to invest in a replacement. A new garage door is estimated to have a 98 percent return on investment.

Kitchen and Bathroom

Ask any real estate agent, and they’ll tell you the same, kitchens and bathrooms sell a house. Invest some dollars in these two rooms, and the results will likely be well worth it. Depending on the housing market, remodels of these rooms can return more than 100 percent of what you put into them.

Buyers want a spacious and clean kitchen with plenty of storage, and the same goes for the bathroom. While you don’t need a complete remodel (probably), there are some areas to focus on. Consider updating countertops and vanities to ensure they look shiny and clean and consider replacing sinks if yours look like they’re from another era. Replacing lighting fixtures is a more affordable upgrade that goes a long way.

Get a good return on your home improvement investments by following these tips.