Projects That Will Give You the Biggest ROI

When preparing your house for sale, you may be led to believe that the more upgrades you
make, the higher the price you can list for. However, not all home upgrades are created equal;
some will have you pouring money down the drain, while others will get you immediate resale
value. Understanding which projects to take on can help you make thousands of dollars more.
So, what home improvements should you do if you want to get a fantastic return on your
investment?

To answer this question, we have to take into consideration the changes that happened in the past few years. Our homes were recently put through a massive re-evaluation. In response to the pandemic, there are now certain features in a home that have become much more attractive to buyers. If you can include them in your upgrades, you can increase the value of your house and turn it into a coveted property in the market. In particular, there are three projects you’ll want to take on:

1. Add more usable square footage. According to a 2020 survey by HomeLight, the need
for more space was among the top reasons why people move. Projects such as creating
a home office space, building an open floor plan, and finishing your basement can give
you that additional space that buyers want nowadays.
The National Association of Home Builders (NAHB) identifies home offices as one of the
new design trend interests in 2022. In addition, the NAHB found that 85% of buyers want
an open layout between the kitchen area and the dining room. Lastly, finishing your
basement can increase your ROI by 70%.
2. Improve your curb appeal. One of the best ways to improve your home’s curb appeal
is by focusing on your landscaping. Make your home look more enticing by adding
healthy plants and blooming flowers to your yard. To make even more of a statement,
slap a fresh coat of paint on your house’s exterior. However, not all changes have to be
big and grand. Sometimes small details like updating your mailbox and house number
will catch the attention of buyers.
3. Upgrade your outdoor space. Functional outdoor spaces such as a deck, a fireplace,
or an outdoor kitchen are now more valued due to the pandemic. If your home has a
nice exterior living area, buyers can imagine themselves enjoying the fresh air as they
indulge in outdoor activities. If you already have an outdoor oasis, pressure wash or
make repairs if necessary for a low-cost way to improve your home’s value.

Home improvements can be expensive, so you want to make sure you’re investing in the right
projects. If you’re not sure whether your renovation plans are worth pursuing, feel free to call or
email me. I’m happy to give you real estate advice and help you get the best value for your
home.