Wondering what home renovations come with a high resale value? When it comes to home renovations and designs, it’s easy to get caught up in the excitement of choosing new fixtures, countertops, and paint colors. But let’s face it, renovations can be expensive. That’s why it’s important to choose projects that will not only improve your home’s aesthetics but also provide a good return on investment (ROI) if you decide to sell. In this blog post, we’ll explore some of the best home renovations that can help boost your home’s value, from updating your kitchen and bathroom to sprucing up your outdoor living space. Plus, we’ll provide tips on how to make the most of your renovation budget. So grab a cup of coffee and let’s dive in!
Bathrooms are another area of the home that can significantly impact its value. A mid-range bathroom remodel typically includes replacing the bathtub, toilet, sink, and fixtures, as well as updating the tile and installing a new vanity. Homeowners can expect to recoup an average of 67% of the cost of a mid-range bathroom remodel at resale, according to the Cost vs. Value Report. Check out some of our favorite hardware and wallpaper here.
Bathrooms are another area of the home that can significantly impact its value. A mid-range bathroom remodel typically includes replacing the bathtub, toilet, sink, and fixtures, as well as updating the tile and installing a new vanity. Homeowners can expect to recoup an average of 67% of the cost of a mid-range bathroom remodel at resale, according to the Cost vs. Value Report.
Home Renovations With High Resale Value – Outdoor Improvements
Outdoor living spaces have become increasingly popular in recent years, so adding a deck, patio, or outdoor kitchen can be a smart investment. These improvements can include installing a fire pit, building an outdoor kitchen or bar, or adding lighting and landscaping. Homeowners can expect to recoup up to 70% of the cost of outdoor improvements at resale, according to the National Association of Realtors. Note: When it comes to listing your home, don’t forget to stage the outside of the house! This will a prospective buyer see the potential for the space and all the hard work you put into renovating it.
Making energy-efficient upgrades to a home can not only save homeowners money on energy bills, but also increase its overall value. Energy-efficient upgrades can include replacing old windows and doors with new, energy-efficient ones, adding insulation, and upgrading heating and cooling systems. Homeowners can expect to recoup about 72% of the cost of energy-efficient upgrades at resale, according to the Cost vs. Value Report. Bonus: Many utility companies will now reimburse you for some of the expenses of these efficiency upgrades, making the return on your investment even higher!
We share some of our favorite vendors in Spokane here.
Flooring Upgrades and their ROI
Replacing old, worn-out flooring with new, modern options can make a home look and feel more updated. It’s amazing what some fresh flooring (and new millwork) can do to change the look and feel of a space. Popular flooring options include hardwood, tile, and laminate. Homeowners can expect to recoup up to 70% of the cost of flooring upgrades at resale, depending on the materials used.
Check out some of our favorite trim upgrades to increase your home renovation resale value here.
Painting – Large Resale Value Fixes
Painting is a relatively inexpensive home renovation that can have a big impact on a house’s appearance affecting the resale value greatly. It’s a good idea to choose neutral colors that will appeal to a wide range of buyers. Exterior painting may be especially rewarding, as it will increase the curb appeal of your home and improve the overall first impression for a prospective buyer. Overall, homeowners can expect to recoup up to 70% of the cost of painting at resale, according to Consumer Reports.
Read about our favorite paint colors here.
In the end, home renovations are an investment in both your home and your quality of life. While it can be tempting to dive into any and every project that catches your eye, it’s important to choose renovations that will not only improve your living space but also provide a good return on your investment (ROI). Whether you’re upgrading your kitchen or bathroom, creating an outdoor living space, or making energy-efficient upgrades, choosing the right projects can help increase your home’s value and appeal to potential buyers. Home renovations with high resale value are sure to set your home far apart from others. And with the right planning and budgeting, you can achieve your renovation goals without breaking the bank.
We hope this has provided you with some helpful ideas and insights for your next renovation project, and we wish you the best of luck in creating the home of your dreams! Want info on fabulous vendors in Spokane that can help make your renovation feel like a breeze? Read this blog also written in collaboration with Mint Interiors Studio.