We all have areas of our homes that we envision differently, whether that involves some easy DIY updates or a full renovation. But the price tag is usually a major consideration.
If you’re looking to upgrade your living space or you’re getting ready to sell your home, you’re probably wondering which home improvement projects have the highest return on investment (ROI).
Our expert home improvement contractors at Elite Construction have years of experience renovating homes in and around Cumming, GA. Here’s what they’ve found to be the home improvement projects with the highest ROI.
It’s no surprise that a kitchen remodel is at the top of the list. Buyers perceive a full kitchen remodel as more valuable than other areas of the house. A full kitchen renovation can add up quickly, however, and spending too much on any one room is unwise. A good rule of thumb is to spend about 10% of your home’s value to remodel a kitchen. Any more than that will be difficult to recover.
If you don’t want to or can’t do a full overhaul, consider a minor remodel that includes new appliances, refinished cabinets, and updated hardware. A new faucet and new lighting can also go a long way in making a kitchen feel newer.
A minor bathroom remodel has one of the highest potential returns, often at 100% or higher. Add a new shower head, update the lighting and fixtures, re-caulk the tub and shower, and put in a new vanity. Anything not adding to the appeal is taking away from it, especially in the master bathroom.
Never underestimate what a fresh coat of paint can do. New interior paint is one of the simplest and most impactful projects to prepare your home for sale. When done properly, it can even result in an ROI greater than 100%. Updating exterior paint is more expensive and more involved but makes your home stand out, boosting curb appeal and home value.
If your home has the luxury of a convertible attic, you should consider converting it to a bedroom, office, or bonus space. Adding to the number of available rooms is one of the best ways to increase the value of your home. An attic conversion is one of the more expensive projects on our list, but you should expect to recapture most of the investment.
If your home has a basement, it should be its own selling point. A dark, dingy dungeon of a basement may even turn some buyers away. Simple, though not necessarily inexpensive, improvements such as finished walls, floors, and ceilings are usually enough. And maybe an extra full bathroom if space and funds allow. And don’t forget: lighting equals inviting! A bright, open, finished basement often gets buyers’ minds churning with possibilities, and possibilities sell properties.
Landscaping can make or break your curb appeal. Opt for simple landscaping updates that are easy to maintain. You don’t want a potential buyer to dread the upkeep. At the very least, spruce it up enough to look clean, tidy, and well-manicured. And don’t forget the lighting!
A water feature is another way to increase the perceived luxury of your home. However, avoid that temptation to add a swimming pool. Costs can run into the hundreds of thousands of dollars while only adding a fraction of that to the resale value.
People are spending more time at home than ever before, and the demand for functional outdoor living spaces is at an all-time high. The addition of outdoor living space can add a great deal of perceived value to your home. More and more homeowners are looking for homes with inviting, comfortable outdoor living spaces.
Replacing your front door is one of the simplest and cheapest improvements, and one of the most impactful. Like landscaping, the front entry is one of the first things buyers see. It’s an opportunity to make a strong first impression. The entry door should match the style and design of the rest of the house. Think of it as an introduction to what’s inside. Similarly, replacing your old garage door with something that enhances the rest of your home’s architecture and design is sure to make a strong statement and boost curb appeal as well.
Planning to upgrade your home but don’t know where to start? Get in touch with our team at Elite Construction & Renovations. We offer a range of professional home improvement services such as kitchen remodeling, bathroom renovation, and custom carpentry.
We work with homeowners across Atlanta and its neighboring Georgia communities, including Gainesville and Cumming.
Call us today at 770-624-9216 or contact us to book an appointment with our team.
