7 Home Projects That Will Increase Your ROI

After living somewhere for several years, it gets tiring to see the same dull wall colors you chose when you moved in, or how about the wasted space in your basement because, after all these years, it still isn’t finished as you planned when you first bought the home. Why start these projects now if you are planning on moving soon? The reality is these projects could potentially help your sales process and make you more money than they cost. Here are seven home projects that can increase your ROI when you sell.

Bathroom & Kitchen Refresh

To avoid the complete demolition of your kitchen and bathroom, you can complete a few simple projects that will update your space and make it feel brand new. In the kitchen, you can replace your countertops with a natural stone or quartz that is both durable and trending or replace appliances and change your backsplash. In the bathroom, you can add heated flooring, a double vanity in your ensuite bathroom, or improved light fixtures. Other small projects that will boost your bathroom's ROI are replacing your tile grout and paint. 

Finished Basement

An unfinished basement may work for your storage needs, but it tends to be a turn-off for buyers. Finishing your basement adds to your liveable square footage, which can be considered when determining your listing price. When fixing your basement, you can simply add drywall and carpet, or you can go all out and remodel to create an entertaining space complete with a wet bar, movie room, and LVT flooring for you to both enjoy while living there and reap the financial reward when you decided to sell. 

Curb Appeal

Basic landscaping and painting your siding can go a long way. Your curb appeal is often the first impression buyers have of your home. If you are considering selling, we suggest painting your siding or investing in a stone veneer for the front. Forbes magazine reported that stone veneer is inexpensive and produces a 92% ROI. Other significant curb appeal improvements are replacing your garage door if it is damaged or outdated and your front door to steel and a trending color. Other minor repairs include simple landscaping like lawn mowing, fixing cracks in the concrete, and trimming bushes.

New Fixtures

To increase your home’s ROI, you don’t have to break the bank on full remodeling; you can update small things around the house, like your light fixtures, faucets, and hardware. Your best bet is to look for inexpensive but attractive items while avoiding extravagance. You get the best return when you buy products in the $100 to $200 range. When considering what to update, lighting should be high on your priorities as illumination is crucial to highlighting features in your home, mainly if your home doesn’t produce a ton of natural light. 

New Flooring

One of the best ways to make your home feel spacious and new is by redoing your floors, especially if you have mostly carpeted floors. Hardwood or Luxury Vinyl in gray or espresso will be your best options for a high return on investment. Hardwood and luxury vinyl are modern, durable, and easy to clean. Additionally, Zillow found that heated flooring is a hot commodity in the real estate market, producing a 2.1% ROI. 

Upgrade to Outdoor Living

Your backyard is just as important as your front. You want buyers to be able to see themselves enjoying long summer nights in your backyard. Forbes magazine reported that building a patio or deck will have a 66% return on your investment and is a great luxury selling point for a home. Decks and patios that are cracked, creaky, and have chipped paint will be sure to put your home on a buyer's con list. You can always just have your deck painted or replace a few boards to make it look nice, save you a few bucks, and potentially seal the deal on your sale. 

Fresh Paint

Painting is the least expensive and most effective way to make a good impression on potential buyers. Be sure to choose neutral or trending colors when painting your home if you are considering selling. Another key project to boost your ROI on your home is repairing holes in the walls. Forbes Magazine found you can expect ROI values of over 105% for interior painting and 80% for the exterior. 

Don’t think you must invest in all seven projects to sell. We suggest picking 1 or 2 to focus on to save time and money. We hope this list of home projects that will increase your ROI helps you in your home sale process. When the time comes for you to sell your home, you’ve listed it and accepted an offer; schedule a call with our office for our team to represent you in the process.

Take the next step today:

• Visit contactohi.com to schedule a free design consultation.

• Browse our portfolio for inspiration.

• Meet the team behind the build.

Your dream home doesn’t have to exist somewhere else—it can grow right where you are, in the heart of the Northwest Suburbs.