One of the most popular questions we hear is: “What home improvements add the most resale value?” Whether you’re planning to sell your home soon, or think you might in the distant future, it’s a good question to ask. Knowing the rate of return on your investment can help you make important decisions, like which home renovation project to do next.
Interior renovations that add resale value
Since the majority of people spend more time inside their homes versus outside, let’s start by looking at which interior improvements will bring the most return on investment.
- Minor bathroom remodel – While this may seem like a simple project, the ROI can be around 100% upon resale. Minor bathroom remodeling includes things like a new tub, updated flooring, tile surrounding the tub or sink, a new vanity, and updated fixtures. Fresh paint for the walls can add a new look and feel as well.
- Minor kitchen remodel – If your kitchen works well functionally and already has adequate space, minor updates could bring in a 98% return on investment. Basically, if only cosmetic changes are needed, and not an entirely new floor plan, this is a great choice for adding value to your home. Re-faced kitchen cabinets and drawers can significantly upgrade the entire room’s appearance at a fraction of the cost of new ones. New appliances, lighting, and fixtures also add value.
- Create an attic bedroom – Return on investment for this room addition comes in at around 93%. While this certainly isn’t an option for every home, it can add value in ones where it’s feasible. Just remember to include the possible cost of upgrading your HVAC system to handle the additional room when running potential value vs. cost comparisons.
- Major bathroom upgrades – These renovations go beyond just a facelift, but bring in a ROI of about 93%. Improvements in this category are more extensive and might include relocating a tub or shower, expanding the entire room’s square footage, and adding designer countertops, sinks, and fixtures.
- Entire kitchen remodel – Is building your dream kitchen worth it? With a return on investment of around 91%, we think so! You can enjoy a floor plan that promotes comfort and functionality, cooking space, and dining. Add in new kitchen cabinets with all the bells and whistles, custom storage spaces, modern appliances, and beautiful countertops and you have a space that’s both stylish and useful.
Professional help for your interior home improvements
If you’re considering any of the renovations above, it’s important to work with people who are experts in the field. Hiring a professional remodeling company means you’ll have access to experienced designers who know exactly which upgrades will add value to your specific home and location. And, a professional building crew can complete the project in less time without the costly errors that some DIY homeowners fall prey to.
Give the design/build team at Sea Pointe a call to get started. Who knows … by the time we’re done, you might not even want to sell after all. But, if you do, you can rest assured that the interior improvements you make now will add value to your home upon resale.