Considering some upgrades to your property in 2022? The list below lists the renovations that pack the most return on investment to your property.
1. Updating the Kitchen
The kitchen may be the most valuable home renovation you can do. Buyers often look at the kitchen first, before deciding to look at a home in person. Most buyers want a kitchen that’s already updated so they don’t have to worry about remodeling after moving in.
Small kitchen remodels can return 77.6% of the money that you spend, while a large remodel only returns 58.6%. Be strategic when you choose how much of your kitchen you want to replace.
2. Get that Bathroom Upgraded
A bathroom remodel doesn’t have to be extreme to add value to your home. You can update the flooring, fixtures, toilet, and lighting and earn back much of what you’ve spent and more.
Many master bedrooms have en suite bathrooms. This master bathroom has the highest rate of return in comparison with the other bathrooms. If your current master bathroom is not connected to the master bedroom, you may consider a remodel that will connect the two. This will add instant value to your home.
Replacing old light fixtures, countertops, cabinets, toilets, and flooring can also increase the appeal of your home. Bathrooms have the second-highest rate of return on investment, behind kitchens.
3. Paint the Walls
Painting rooms is always an easy way to add value. Many homeowners can do the work themselves and the cost of paint is inexpensive in comparison with other upgrades.
Stick with lighter, more neutral palettes that will appeal to a wide range of buyers. This makes it easier for a buyer to bring their existing belongings into the home without anything clashing.
Painting helps make a room feel fresh and emphasizes natural light. If your walls are already painted in neutral colors, determine if the molding, trim, or windows need a fresh layer of paint.
4. Landscape the Front Yard
The most common way to improve curb appeal is landscaping. Over 94% of real estate agents believe curb appeal boosts your home’s value and ability to sell fast, and that includes landscaping. Great landscaping suggests to home buyers that your property is well-maintained throughout.
5. Add a Porch or Deck
A wooden deck or patio addition is an excellent way to boost curb appeal. Many memories are made outside on the front porch, so it tends to boost the emotional appeal of a home.
Building a deck or porch requires a contractor who knows how to avoid wood rot and build to city code. Composite decking is preferred in most cases because it does not rot and does not require painting or staining.
If you plan on adding a concrete patio, consider using stamped concrete. This is a method of adding decorative finishes to the contract to simulate the look of tile or stone. Stamped concrete is a newer method of finishing that creates an impressive look that is popular with home buyers today.
