Renovation ROI: How to Prioritize Home Improvements for Maximum Return on Investment

Nobody sells their home, hoping they’re giving the buyer the best deal possible. Instead, we have to focus on our profits and make sure that we’ll have enough money to move on to the next phase of our lives.

If you’re interested in getting the highest return on investment possible, prioritize these home improvements to get the largest recovery possible!

1.Going Big Isn’t Always Better

Everyone loves the idea of going all out and updating everything from fireproof roof shingles to all-new appliances, but a major remodel isn’t always the best choice! In kitchens and bathrooms, mini remodels bring in a higher return on investment while also saving you time and labor that can be taxing.

Unless your kitchen hasn’t been updated since the 1970’s, it’s not worth it to do a full remodel, and it will end up costing your more in the end.

2.Consider the Age of Your Home

How old is your home? There are some updates that have to happen at certain points, and avoiding doing them will cost you more in the long run. For instance, if your siding is over 20 years old, it’s time to start weighing aluminum siding vs vinyl siding to make sure you’ll get the most money possible.

Your roof, insulation, HVAC system, and so much more should be considered if your home is over 25 years old. Although this can get pricey, it’s a must if you want to make a lot of money off of your sale.

3.Don’t Be Afraid to Work With a Pro

Many sellers overestimate their abilities and end up getting tens to hundreds of thousands of dollars less than they could have for their home If you’re eager to sell for the most money possible, don’t be afraid to reach out to a realtor or real estate agent.

Not only do these professionals have the connections to get your property into the hands of people who would love it, but they can also guide you through what your unique home needs. Having this custom help can make all the difference.

4.How Can You Boost Comfort?

We all want to be as comfortable as possible. Unfortunately, although you can change anything you want about the interior and exterior of your home, you can’ change the physical location of it. If you live near a highway, school, or noisy business, buyers might get scared away. They won’t want to hear all of this sound inside their home everyday.

Installing fixes like acoustic wall panels and more insulation can be a fantastic fix to this issue. Invite buyers into your home, and show them how quiet it truly is!

5.Look At Exterior Doors and Windows

Energy efficiency is a big selling point in 2023. People don’t want to buy a house and then have to sign on to have a thousand other expensive bills every month. Go from window to window with a piece of string, and watch for any waver or shift in it. If the string sways, there’s an air leak that needs to be taken care of.

Do this as early as possible so you can show a few months of lower energy bills to the buyers. They’ll see more value in the home and will be more willing to pay a higher mortgage for it.

6.Your Garage Holds the Secret to Success

Although garages are often considered an afterthought, these are entrances to your home that should be taken as seriously as your front door. Updating an older garage door offers the highest return on investment of any home project you can complete. The last thing you want to happen when you’re showing buyers your home is for the garage door to fail. this will lead to them questioning how functional or trustworthy the rest of the house is as well.

7.Create Visual Appeal to Sell

Although the bones and physical build of your home matter, sometimes what matters to buyers is the visual appeal above all else. They want to be able to look at a home and feel like they can see their future in it.

Adding details like cabinet crown molding to make the ceiling feel higher or updating light fixtures and switch plates can make the entire home feel brand new and give you a chance to make a lot more from your sale.

Boosting your curb appeal offers the highest return on investment because it’s nearly free as long as you do all of the manual labor yourself!

Don’t Undersell Your Home

When it’s time to see, and you want to make as much money as possible, it’s vital that you stop and work with someone who knows what they’re doing. Follow some of these tips, and reach out to Assist2Sell when you’re ready to put your property on the market.