Adding a well-designed space to a to-be-sold home is one of the surefire ways to improve return on investment. When you’re remodeling a house in Salt Lake City, UT, investing in high-income areas such as kitchens, bathrooms, basements, and outdoor can make the living space more livable.
If you’re considering selling your property, you can make the following home renovations to get the best return on investment.
Best an ROI Home Renovations
Entry Door Replacement
You might not have considered changing or upgrading the entry door for higher returns. However, making some simple renovations or replacing the door can increase the ROI of your home by 90.7 percent. The average cost of replacing the entry doorway is $1410 and an average return on it is around $1280.
While your entry doorway is perhaps the simplest item on the renovation list, it adds great value to the home remodeling task. We say this because it is one of the things that your prospective buyers see when they visit the property for the first time.
In fact, it is your chance to make the first impression of the property you want to sell. Many buyers decide whether they want to buy the home or not during the first few minutes they spend at the home. That means, investing in the entry doorway is perhaps in your best interest as a home seller. As a modernly designed new door improves the curb appeal of the home, it can increase the return on investment also.
What To Know About Replacement Windows
Replace Windows
A new door, garage entryway, or fresh paint on the patio, nothing makes your property’s exterior look better than new windows. A stunningly designed new set of windows can upgrade the look of any home from outside and inside.
Make sure to choose windows that are not only beautiful and modern but also energy efficient. A set of new windows can save hundreds of dollars on energy bills which is definitely an add-on for new homeowners. The average ROI on the new windows is more than 89 percent.
What should I know before remodeling a bathroom?
Major Bathroom Remodel
Though minor Salt Lake City bathroom remodels can also improve ROI, major renovations can make a significant difference in the overall resale value of your home. It may include anything from upgrading sinks, faucets, and bathtubs to replacing amenities to a complete overhaul.
However, it is essential to consider, analyze, and criticize major aspects including plumbing, shower pan, flooring, and lighting. Assessing major renovation aspects before the task will help you determine how they will add to the appeal and boost ROI.
Starting from a clean slate is always a good idea when it comes to renovating bathrooms. Upgraded bathrooms with master baths and other features can help you convince the buyers that your property is a good decision. An average return on a major bathroom remodel is around $24,300 as it can increase ROI by 93.2 percent.
Things to Know Before Starting a Kitchen Remodel
Major Kitchen Remodel
Like major bathroom remodel, kitchen remodels can also impact the return on investment. A complete overhaul is always a better option in which you remodel everything in your kitchen. Many home renovation experts consider incorporating an open concept a great idea.
If possible, keep your kitchen’s floor plan as spacious as you can. Most buyers prefer buying homes with a lot of open space to cook or to host.
Removing unnecessary walls that separate the kitchen from the house can be the best thing to make your space looks bigger and airy. You can make a $39,900 return on a major kitchen remodel that can improve ROI by 90 percent.
How to Overhaul Your Backyard
Patio/Deck/Porch Addition
If there is a room, consider adding a patio, deck, or porch to your home before selling it. The additions of well-designed outdoor structures are excellent to improve the perceived value of a home.
For instance, a deck can increase the living space homeowners can use in the yard. It can increase the ROI by 90 percent and can be a selling point for buyers looking for a house with complete outdoor space.
Is finishing a basement worth the money?
Basement Remodel
Not all properties have a luxury of a well-maintained basement. Typically, they have an underground living quarter or area homeowners can use as a basement. If your property has the same area, remolding it is one way to increase the living space in the house.
Remember that a dingy and dark basement can hurt the resale value of your home. According to a recent survey of NAHB, most high-end buyers look for homes with finished basements. You can get an average return of $46000 (90.1 percent) on your basement remodel.
Turn the basement into a well-designed living area to add to your home’s selling point. Consider adding flooring, paint, and drywall to offer better heated square footage to bump your home into a varied price bracket.
Summing Up
The given home renovation ideas are excellent for improving your home’s overall value and getting the best ROI on selling.
