When it comes to preparing your home for sale, a well-planned strategy of home improvement projects can significantly boost its appeal to potential buyers. But it’s important to make the best choices possible to ensure the best bang for your buck.
In this article, we’ll delve into the top seven essential home DIY upgrades that promise the highest Return on Investment (ROI) and guarantee to catch the eye of any prospective buyers.
We’ll explore three specific upgrades in detail while the other four should be pretty self explanatory.
We have used a variety of sources including the study conducted by Remodeling’s National Cost vs. Value Report for 2023 amongst other sources.
Let’s get started…
TL:DR
- Garage Door ROI = 102.7%
- Window Replacement ROI = 61.2% – 68.5%
- Curb Appeal Fixes ROI = 31.9% – 102.3%
- Painting ROI = 107%
- Flooring ROI = 70 – 80%
- Bathroom ROI = 26.6% – 66.7%
- Kitchen ROI = 41.8% – 70%
Replacing the Garage Door
Let’s begin with one of the easier home improvement projects that you can carry out – the garage door.
Your garage door plays a pivotal role in your home’s curb appeal, as it’s often one of the first things visitors notice.
By opting for a stylish and durable replacement, you can transform the exterior of your home while providing an added layer of safety.
This is a particularly smart move if your current garage door is showing signs of wear and tear, as it creates a lasting first impression for potential buyers.
The other aspect of this is that for many people, having a garage is high on their wish list. So making sure that it looks attractive will ensure that it ticks the box for all buyers.
The cost of a garage door can range from $600 for vinyl material through to over $4000 to faux wood.
Window replacement
Upgrading your windows is another surefire way to enhance your home’s curb appeal while also reaping the benefits of energy efficiency. New windows not only improve insulation, helping to regulate indoor temperatures and reduce heating and cooling bills, but they also give your home a fresh and updated look.
Opt for energy-efficient windows that meet modern standards – a feature that can resonate strongly with environmentally-conscious buyers. Additionally, well-designed windows invite natural light, creating an inviting and open atmosphere inside your home.
The average cost to replace windows can range from as low as $300 through to $1200 on the higher end.
Upgrades that enhance your home’s curb appeal
Curb appeal is a term often thrown around in real estate, and for good reason. The exterior of your home sets the tone for what buyers can expect to find inside. Aside from the garage door and windows, there are other upgrades that can significantly boost your home’s exterior look.
These might include fresh landscaping, a well-maintained front door, and even outdoor space enhancements such as a patio or deck. A well-designed outdoor area can act as an extension of your home’s square footage, offering additional space for relaxation and entertainment.
However, the highest ROI home upgrade is using manufactured stone veneer on the exterior of the property.
The average cost for these types of upgrades can range from $10,000 through to $25,000 and more.
Paint Refresh
A coat of paint can work wonders in transforming the look and feel of your home. A neutral and modern color palette can help potential buyers envision themselves living in your space.
Whether you’re touching up existing paint or going for a complete color overhaul, a paint refresh is a relatively minor investment that offers major returns.
Focus on areas such as the kitchen, living room, and bedrooms, as these are spaces where buyers tend to pay close attention.
The best thing about painting is that you won’t always need a professional. Most people will be able to carry out the painting themselves.
Refinish your hardwood floors, or revamp them with luxury vinyl planks
The floors of your home serve as the foundation for its overall aesthetic and functionality.
Upgrading your flooring is a strategic move that offers impressive returns and leaves a lasting impression on potential buyers.
Yet, many get it wrong. We’ve decided to break this one down into a more comprehensive section.
Refinish Hardwood Floors
If your home boasts hardwood floors that have lost their luster over the years, refinishing them can be a great way to upgrade your home while on a budget.
Refinishing hardwood floors involves sanding down the existing finish, repairing any imperfections, and applying a new coat of stain and protective finish. This process not only restores the natural beauty of the wood but also adds a touch of timeless elegance to your living spaces.
Embrace Luxury Vinyl Planks for Durability and Style
Luxury vinyl planks have gained popularity for their ability to mimic the look of hardwood, tile, or stone while offering exceptional durability and ease of maintenance.
LVP is a great choice for areas prone to moisture, such as kitchens and bathrooms. With a wide range of colors and patterns to choose from, you can achieve the look of premium materials without the associated costs and maintenance.
The average cost for this is usually around $2 to $5 per square foot which is quite cheap.
Opt for Tile for a Versatile Upgrade
Tile flooring is a versatile option that works well in various areas of the home. They offer durability and a vast array of design possibilities. You can choose from ceramic, porcelain, or natural stone tiles, each offering a distinct aesthetic that can elevate the visual appeal of your spaces.
Carpet Replacement for Cozy Comfort
If your home has wall-to-wall carpeting that’s seen better days, replacing it can have a significant impact. Choose high-quality carpeting with a neutral color palette that compliments different decor styles. Soft, plush carpeting can create a sense of comfort and coziness that potential buyers will appreciate, especially in bedrooms and family rooms.
Sustainable Flooring
For eco-conscious buyers, sustainable flooring options are a major selling point. Bamboo, cork, and reclaimed wood are all eco-friendly choices that not only reduce your home’s environmental footprint but also add a unique and stylish touch. Highlighting these materials during showings can resonate with buyers who prioritize sustainability.
Professional Installation for Flawless Results
No matter the flooring material you choose, professional installation is key to achieving flawless and long-lasting results. Potential buyers will notice quality craftsmanship, and a well-installed floor speaks volumes about the care and attention you’ve invested in your home.
Focus on the Kitchen
As the heart of your home, the kitchen holds immense potential to captivate potential buyers. A well-executed kitchen remodel can significantly enhance your home’s value while wowing those who walk through the door. Kitchen remodels can be as costly as you make it. There’s many things that you can do to obtain a positive ROI, we’ve again opted to go into detail for this section.
So here’s how to approach a kitchen upgrade that promises a remarkable Return on Investment (ROI) and makes your home irresistible to buyers.
Upgrade the Cabinetry
One of the most impactful changes you can make to your kitchen is updating the cabinetry. If your cabinets are showing their age, a fresh coat of paint or stain can work wonders.
Alternatively, consider replacing cabinet doors and hardware for a modern and cohesive look. Buyers appreciate ample storage space and cabinets that seamlessly combine style and functionality.
Update Countertops
Countertops are not only functional but also serve as a visual focal point in the kitchen. If you’re aiming for a high-impact change, upgrading to granite, quartz, or another premium material can instantly elevate the space. These materials offer durability, aesthetics, and a touch of luxury that can leave a lasting impression on potential buyers.
Modernize Appliances
Outdated appliances can be a major turn-off for prospective buyers. Consider investing in modern, energy-efficient appliances that not only look sleek but also offer convenience and cost savings. Stainless steel appliances, in particular, have universal appeal and can complement various kitchen styles.
Enhance Lighting
Proper lighting is essential in the kitchen, both for functionality and ambiance. A well-lit kitchen feels inviting and spacious. Consider installing under-cabinet lighting to illuminate workspaces, pendant lights above islands or dining areas for a stylish touch, and adjustable overhead lighting to create the perfect atmosphere for any occasion.
Revitalize Flooring
Kitchen flooring takes a beating, so it’s essential to ensure it’s in top shape. If your current flooring is outdated or worn, consider upgrading to materials like hardwood, tile, or luxury vinyl planks. These options are not only visually appealing but also durable and easy to maintain – features that can resonate with potential buyers.
Add a Stylish Backsplash
A well-chosen backsplash can tie together the entire kitchen design. Opt for a design that complements the overall aesthetic. Subway tiles, mosaic patterns, or even natural stone can add a touch of texture and visual interest to your kitchen walls.
Create Functional Layouts
If feasible, consider optimizing your kitchen layout to enhance flow and functionality. An efficient layout can make cooking and entertaining a breeze, and buyers often appreciate kitchens that maximize space while maintaining an open and inviting atmosphere.
Bathroom remodel
Bathroom remodels are another high-roi home upgrade. However, this can also be another expensive option due to the countless possibilities available.Yet, a well-executed bathroom remodel can be incredibly rewarding, enticing potential buyers and commanding a higher sale price. Here’s how to give your bathroom a facelift that leaves a lasting impression.
Upgrade Fixtures and Hardware
Start by assessing the condition of your bathroom fixtures and hardware. Outdated faucets, showerheads, and cabinet handles can easily drag down the overall appeal of the space. By swapping these for modern, stylish alternatives, you instantly inject a sense of luxury and sophistication. Potential buyers appreciate attention to detail, and updated fixtures are a small change that can make a big impact.
Focus on Lighting
Proper lighting can transform any space, and the bathroom is no exception. Replace old, dim lighting with bright, energy-efficient fixtures that create a well-lit and inviting atmosphere. Consider adding task lighting around the vanity mirror and ambient lighting to set the mood. A well-lit bathroom feels more spacious and inviting, which can resonate strongly with prospective buyers.
Refresh the Vanity and Countertops
The vanity and countertops are central elements of any bathroom. If they’re worn or outdated, they can detract from the overall aesthetic. Consider giving your vanity a fresh coat of paint or refinishing it to match the new color scheme. Upgrading to stone or quartz countertops not only adds a touch of elegance but also conveys durability and longevity, factors that resonate well with potential buyers.
Revamp the Shower or Tub
An attractive shower or bathtub can be a focal point of the bathroom. If your shower tiles are showing signs of wear or your tub has seen better days, investing in these areas can pay off. Regrouting tiles, adding a modern glass enclosure, or upgrading to a stylish bathtub can breathe new life into the space. Keep in mind that potential buyers are drawn to bathrooms that exude relaxation and comfort.
Opt for Neutral Colors
When choosing colors for your bathroom remodel, opt for neutral tones. Neutral colors create a clean and timeless aesthetic, allowing potential buyers to envision themselves in the space. Plus, neutral colors provide a versatile backdrop for a variety of decor styles, making it easier for buyers to visualize how they would personalize the space.
FAQ
What home improvements increase property value most?
Home improvements that tend to increase property value the most include the ones mentioned above in this article such as kitchen remodels, bathroom upgrades, garage door replacement, and exterior improvements like manufactured stone veneer.
What home renovation has the biggest return?
Garage door replacement and manufactured stone veneer are among the home renovations that yield the biggest returns, with ROI percentages exceeding 100%.
What changes add the most value to a home?
Changes that add the most value to a home include improvements to the kitchen, entry door replacement, garage door replacement, and midrange bathroom remodels.
What adds the most value in a renovation?
In terms of renovation, upgrading the garage door, performing minor kitchen remodels, and focusing on exterior enhancements such as manufactured stone veneer tend to add the most value.
Final Thoughts
There you have it – a comprehensive guide on the top seven essential DIY upgrades with the highest ROI when selling your home.
You don’t need to carry out major home renovation projects to still make a good investment with these DIY projects. So whether you’re looking to sell your property, or just looking into home remodeling projects,we hope this article has been fruitful
Feel free to browse the rest of our site for more informative articles on home improvement projects, real estate tips, and insights into the world of home buying and selling.