Give your home’s value a boost by completing these projects

Whether you’re planning on selling your home, refinancing, or just want to add long-term value, investing back into your property makes a lot of sense. You’ll want to focus on high-impact projects with a great return on investment (ROI). In this article, we’ll review some of the home renovation projects with the best bang-for-your-buck, and how you can maximize every dollar you spend on them.

Remodel your kitchen

There’s no mystery as to why kitchen renovations are one of the most popular home remodeling projects. On average, homeowners who remodel their kitchen see an 80.5% ROI. That’s just the average—many homeowners get more out of their kitchen when they sell their home than they initially invested.

If you want to be in that camp, you need to focus on finding high-quality materials at wholesale prices. Work with your contractor: they’ll know where to shop and where to buy.

No remodeled kitchen is complete without new cabinets and countertops. For the latter, go with either granite or quartz. Look for high-quality granite countertops that match the desired look and feel of your kitchen.

In most cases, the right materials are going to be pricey—combined, your countertops and cabinets may add up to half of your total project budget. However, since these two elements bring so much value to the table, this trade-off is typically worth it.

Change up your bathrooms

Behind kitchens, bathroom remodels are the next most popular remodeling project. Here, the average homeowner sees a 63.5% ROI. That’s more modest of a return than that associated with kitchen remodels, but still makes this a worthwhile investment in your home.

In this space, focus first on practical upgrades. Yes, every homebuyer wants a master bathroom that looks great. But, they also want—and need—to have a space they feel comfortable using everyday. Focus on comfort and utility first. As an example, remodel the shower before changing out the tub: most Americans shower daily, but only bathe every so often. For this reason, buyers will appreciate a nice shower over a luxurious tub.

Invest in small—yet impactful—changes

You don’t necessarily need to spend thousands to make your home more attractive to buyers. These projects may be smaller in scope and cost, but they can have a big impact on your home’s market value:

• New Flooring: If your carpets are starting to show their age, consider replacing them ahead of listing. Or, better yet, upgrade to vinyl, laminate, or tile flooring throughout your home. These floors tend to hold up better than carpet, and most homeowners can handle installation on their own, saving you money.
• New Lighting: Your indoor lighting impacts the way you—and everyone else—sees your home. Are your yellow, dark fan lights putting your home in a bad light? If so, start swapping out your outdated light fixtures for new ones with high-efficiency, high-brightness bulbs. You’ll be amazed at the positive change in how your home looks and feels.

For more home renovation inspiration, check out this infographic: