Are you looking to sell your home? If so, you might consider making upgrades to increase its resale value. The renovations you make will leave a significant impact on your ROI, or return on investment.
So which renovations have the highest ROI? Which projects take the least amount of time but appeal to the highest number of buyers? Before you head to the hardware store, consider tackling the items on this list.
1. Paint the Interior or Exterior
You can pick up paint for relatively little at any hardware store. Plus, it’s possible to complete most projects in a single weekend, so you won’t have to live with a disheveled home for months if you’re efficient. You can also tackle indoor painting projects during any season of the year.
When it comes to outdoor jobs, you do need to factor in the weather. If it’s too hot, your paint might not set properly. Frigid temperatures can cause lumps in your color, so save exterior painting projects for the springtime. You might also consider replacing your siding altogether.
2. Enhance Your Home’s Curb Appeal
Overgrown shrubbery provides ample hiding spaces for thieves looking to break into your home. It also looks unsightly and damages your home’s curb appeal, which can deter potential buyers before they even set foot inside your house.
Trim back any overgrowth and clear overhanging tree limbs away from your roof. Also, be sure your gutters aren’t clogged or broken. Other ways to enhance the curb appeal of your home include planting colorful flowers, ensuring your driveway is free from cracks and other unsightly damage or even adding a porch or a deck if you don’t already have one.
3. Renovate the Garage
If you ask buyers what feature they want most in a home, “garage storage space” will come up again and again. With gardening tools, sports equipment, extra shoes and other miscellanea, it’s often smart to invest in shelves and pegboards for proper storage. Cabinets with locks are ideal for protecting expensive items and housing dangerous objects like chemicals and sharp tools.
Insulate your garage and replace the door while you’re organizing it as well. Quality garage doors return up to 85% of your initial investment, and they enhance your home’s curb appeal as well. Proper insulation reduces your entire home’s heating cost and protects your vehicle and other equipment from extreme temperatures.
4. Replace the Windows
Do you catch a chill when you sit by your window? If so, you’re throwing money away every month on utilities. Depending on where the air is seeping in from, you might get by with a tube of caulk to seal off any gaps. If that doesn’t solve the problem, you might need to buy new windows, especially if your house is older.
When you are shopping for windows, pay attention to the U-value or U-factor. Those with lower U-values insulate more effectively.
5. Upgrade the Appliances
Ever since the federal government launched the Energy Star rating program in 1992, engineers design appliances with maximum energy efficiency in mind. When buyers look at your kitchen, they will make a beeline for the door if they see moldering refrigerators and cooktops.
You can’t blame them, either. A dishwasher that’s several decades old creates quite the water bill! Selecting the most energy-efficient models you can find is one of the best home renovations you can make for resale value.
6. Redo the Roof
It’s not going to matter if your home’s interior looks good if the outside is falling apart. Beyond resale value, a poor roof can also endanger a home’s occupants.
Did you know that leaks can pose a fire hazard as well as exposing your drywall to water damage? The water can get into your home’s wiring, causing potential shorts and other issues.
7. Clear Away Clutter
Clear the clutter away, indoors and out. If your lawn lies scattered with your kid’s toys, invest in an outdoor storage container to keep them tucked away when not in use. Invest in bins for indoor toys, too.
Have a yard sale or give away unnecessary knick-knacks. Getting rid of the clutter will make your home look better on both the inside and the outside.
Try These Best Home Renovations to Increase Your Resale Value
You can improve the resale value of your home quickly with these seven renovations, designed to supercharge your ROI. Now, it’s time to don your safety gear and get to work!
Meta Description: Selling a home is far easier after you’ve made a few improvements. You’ll also earn more money. So what are the renovations with the highest ROI?
Dylan Bartlett, aka, “The Regular Guide,” writes about home improvement, DIY projects and more on his blog. Check out Just a Regular Guide for similar topics, or follow Dylan on Twitter @theregularguide for updates on his work.