Not every home improvement will bring a big return on investment. However, these four will.
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I'm excited to be joined by Nate McAgee to talk a little bit about which improvements to make to your home. Many homeowners have a lot of equity in their homes and want to sell. However, they also want to make some upgrades prior to listing in order to increase their bottom line. Which home improvements will get you the best return on investment? Focus on these four areas:
1. The kitchen. This is where you’ll get the best return. Whether the job is big or small, it’s money well spent—just don’t exceed 20% of the home’s value for your budget. The return here is around 85%, which is top of the line.
2. The bathroom. You could spend a little here replacing fixtures and toilets, or you can do a complete overhaul. Just like the kitchen, whatever you invest is money well-spent. The return here is around 80%.
The kitchen is where you’ll get the best return.
3. The backyard. The main focus here is to make the backyard an extension if your home. You’ll also get an 80% return for whatever DIY, landscaping, or other projects you decide to invest in.
4. Windows. Between the energy efficiency and thermal and acoustic comfort they bring to the home, windows are something buyers are keenly aware of. They’re willing to pay for upgrades in this department. You should expect a 70% to 75% return on new windows.
These are just a few of the things you can do to add more value to your home before you sell. If you have any questions or want any more tips, give me a call or send me an email. I look forward to hearing from you.
