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Maximize Your ROI With These High-Value Home Improvement Projects

Written by Posted On Wednesday, 20 May 2020 08:11
Maximize Your ROI With These High-Value Home Improvement Projects

Are you ready to invest back into your home? Good choice: making home improvements can raise the value of your home, allowing you to list it higher, remove private mortgage insurance from your loan, or take out a home equity line of credit. To get the most out of your remodel, you’ll want to hone in on projects with a high return on investment (ROI). In this article, we’ll review three home upgrades that will greatly increase your home’s value and curb appeal.

Kitchen Remodel

When it comes to remodeling projects, the kitchen is king. In the modern American home, the kitchen is the focal point of life: it’s where families sit down for a great meal, where friends enjoy each other’s company around the kitchen island, and where memories are made. It should come as no surprise, then, that homeowners love renovated kitchens. This one home project, on average, has an ROI of 80.5%. A reimagined kitchen adds significant value and curb appeal to your home.

All kitchen remodels start with cabinets and countertops. These two elements are the most visible and recognizable aspects of the kitchen. Most prospective homebuyers expect a remodeled kitchen to feature new or updated cabinets and stone countertops. When thinking through your future kitchen and putting together a budget, find the intersection between what you love and what has wider appeal. While no homeowner wants to spend thousands on a kitchen they personally hate, you also don’t want to end up with one that you, and only you, love. 

In the kitchen, it’s the finishing touches that make all the difference. Choose lighting, backsplash, pulls, and appliances that fit within the general design theme. If your kitchen needs new floors, this is a perfect time to think through what fits with your design.

Bathroom Remodel

Just like kitchens, homebuyers love remodeled master bathrooms. On average, a master bathroom remodel nets a 70.1% ROI. To beat that average, you need to find ways to add value without blowing past your budget. First, try to avoid major layout changes that require plumbing or electrical to be moved—this requires specialized professionals and may involve codes and permits. If possible, leave everything where it is and instead turn your attention to improving the shower. By replacing the shower head, handles, glass, and tile, you can transform the shower from outdated and boring to being the bathroom’s centerpiece.

Chances are, the bathroom vanity could also use a facelift. Installing new sinks, faucets, and fixtures can be a major difference-maker. For the vanity’s surface, use granite or quartz—just like in the kitchen. Finally, you can improve the utility and appeal of the vanity’s cabinets by installing professional organization tools, such as a suspended bin for storing hairdryers, curling irons, and other accessories.

You might think that a toilet is just a toilet, but if your home’s toilets are more than two decades old, they might be major water wasters. Have a plumber help install low-flush or dual-flush toilets so that your home better conserves water.

HVAC Replacement

Whether you live in the icy Midwest and Northeast or the sunshine-drenched Southeast and Southwest, your home relies on its HVAC systems for indoor comfort. If your air conditioner or furnace is struggling to keep the home comfortable, it could be a major issue when you go to list your home. Most prospective buyers balk at the thought of air conditioner replacement immediately after move-in, and they may even back out of the deal if their home inspection discovers the HVAC unit is on its last legs.

 

Our recommendation? Be proactive. If you know your air conditioner, heat pump, or furnace is on its way out, replace it with a high-efficiency system before listing. In doing so, you’ll turn a perceived weakness of your home into a strength: there isn’t a buyer out there who doesn’t appreciate the peace of mind that comes with years of lower utility bills and reliable comfort.

Start adding value to your home

If you’re ready to start investing back into your home, there’s no time like the present to get started. After all, one of the benefits of making high-ROI improvements to your home is that you get to enjoy them in the here-and-now while also knowing you’ve added value to your home for the future. 

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Lauren Anderson

Lauren Anderson, is the content specialist at Wagner Mechanical, a professional plumbing company and HVAC in Albuquerque and Santa Fe. Lauren has studied Construction Management and currently enjoys writing about topics that help homeowners in taking good care of their homes. At Wagner, you can trust that we are going to guarantee not only the work we do but that our service meets your expectations.

https://www.wagnermechanical.com/

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