8 home upgrade projects that offer high returns

8 home upgrade projects that offer high returns

A homeowner may decide to renovate their home for various reasons, including listing it on the real estate market. A well-executed remodeling project can yield high returns on the value of the home and enhance its functionality. However, a house comprises several spaces, and one may not always know where to begin with the project. Additionally, remodeling some spaces could offer more value, especially if the job is done correctly.

Bathroom additions
The bathroom is a space where people like to spend time relaxing after a tiring workday. So, it’s important to consider it when planning a remodeling job. Upgrading fixtures like showers, low-flow toilets, and shower heads can not only make them more aesthetically pleasing but also help reduce water consumption, which appeals to eco-conscious buyers. Adding more storage to the space can also contribute to a better return on investment (ROI). Other elements to consider are energy-efficient light fixtures and better ventilation. Before listing the home on a real estate website, it’s crucial to address any existing plumbing issues, such as worn-out pipes, broken tiles, and leaky taps.

Kitchen upgrades
If one is looking to increase the value of the house when selling it, focus on remodeling the kitchen. A well-thought-out renovation plan can significantly boost the return on investment. One can consider replacing appliances with new, more energy-efficient options, refacing cabinets with shaker-style panels, replacing hardware, adding new flooring, and repairing the walls. These upgrades can enhance the kitchen, making it functional for every user while increasing the probability of a higher yield on the real estate market.

Adding a deck or patio
Outdoor living spaces attached to a home have grown popular over the years, especially in areas where the climate is favorable. Those living in these areas should consider adding a deck or patio when remodeling the home, as it could provide a good ROI when it’s time to sell the house. When building or upgrading this space, it’s advisable to use durable materials that require minimal maintenance. Additional features like a fire pit, built-in seating, or an outdoor kitchen can also make the space attractive and appealing to potential buyers.

Inclusion of the latest technology
Younger buyers on the market tend to appreciate modern additions to a home, including gadgets with the latest technology. So, when one remodels any space, it’s worth considering how to improve its functionality. Some upgrades that appeal to younger buyers include smart lighting systems, Wi-Fi connectivity, programmable thermostats, and security features like cameras that can be controlled remotely. Other tech-savvy additions that could help modernize a home include robot vacuums, remote-controlled curtains, smart speakers, and air purifiers. All these upgrades can potentially increase the ROI when one sells their home.

Exterior enhancements
In addition to the interior of a home, the exterior appearance also plays an important role in increasing the overall value. One aspect to consider is the curb. One can invest in flowers, shrubs, and plants. Another way is to repaint or replace the front door with a modern option to make the entrance more appealing. It’s also essential to address any wear and tear on the outside, such as replacing the roof, siding, windows, and frames. This will help potential buyers feel confident that the home is worth the quoted value.

Revamping the basement
Most homeowners tend to renovate their entire home but often neglect the basement, which is usually underutilized. However, the basement has a lot of potential, and remodeling it the right way can offer a higher ROI. One can convert the space into a game room, home theater, or guest suite or even redesign it as a studio that could attract influencers who require such spaces. While upgrading the basement, it’s important to add proper insulation, adequate lighting, and ventilation to ensure comfort. One should also follow building codes, such as installing egress exterior doors and windows for safety and compliance. In addition, including storage options can maximize space utilization and keep the area organized. All of these improvements will help enhance the home’s value.

Converting the garage
One can alter a garage, such as turning the space into a living room, home office, or an additional bedroom. These structural changes can introduce more utility to the home. When upgrading the garage, one must also focus on insulating the space appropriately so that the temperature inside is adequate throughout the year. Installing skylights and windows can make the space more comfortable and inviting. If one wishes to add a bathroom to the garage, one must consider plumbing requirements. Consulting a professional about the local building code can help make these changes.

Flooring upgrade
Upgrading the flooring can make a significant impact on the overall look and feel of the house. Hardwood flooring is an excellent choice for homeowners who want to add a touch of elegance and sophistication to their homes. Its versatility makes it an ideal option for any room and decorating style. One of the major advantages of hardwood flooring is that it can increase the ROI of a home. Although it may require more costly material than other flooring options, it is a durable and long-lasting investment that can add value to a property for years. It is also easy to clean and maintain, making it a practical choice for homeowners.

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