If you are a real estate investor, you should know the importance of home renovation and upgrades. Any money you spend on improving your home should focus on delivering the highest return. This should apply when you are in business to flip houses or spruce up your home for sale. To highlight where your renovation money should go, here are six high-ROI home upgrades you should consider.
Invest in a new door
Replacing old doors with hurricane impact doors or steel doors is said to recover up to 91% of the home value at resale. Additionally, buyers love houses with new, secure doors. Other features that attract buyers include energy efficiency, low maintenance, and eco-friendly features. Therefore, you should make sure that your renovation centers around these areas.
Renovate the kitchen and bathroom
Replacing new drawers, faucets, and pulls to match your kitchen and bathroom style gives the place a cohesive, modern appearance. Additionally, this is an inexpensive way to improve the value of your home.
There are many bathroom and kitchen trends you can choose from to make your home more appealing, and expect a high return on your investment. If you want a contemporary look, go for the brushed nickel and matte designs. Oil-rubbed bronze should give you a more classic design.
Add a stone veneer
Are you tired of the vinyl appearance? Adding a stone veneer to your entryway is a value for money renovation. A stone veneer is also a great improvement for the house’s curb appeal.
Spending money on landscaping is another high return on investment home renovation. Landscaping improves the curb appeal that helps your home sell faster and at a good price.
Landscaping could be what you need to give your home a fresh look with the assurance of high returns. Accordingly, you do not have to overboard. Some of the most straightforward landscaping designs are also the best and most effective. Consider investing in a professional landscaping company.
Add a deck, patio, or porch
Do you have enough room for some high-ROI additions? Adding a patio, deck, or porch can be an excellent idea. Ensure you create enough space for furniture and other items for more appeal. Adding these exterior structures is found toad a lot of value to a home. Additionally, they create more living space, which is a good selling point most buyers look for.
Install new windows
Replacing a worn-out window with new pairs can guarantee up to a 70% return on investment. This can be even better if you go for more unique models that are energy-efficient and very attractive. Consider replacing your old windows with better versions that allow sufficient sunlight. Additionally, you can go for more eco-friendly products, such as wood and bamboo frames.
If you are going to spend money on home renovation, make sure you focus on areas that guarantee excellent resale value. These six ideas are some of the high-ROI home renovations you should consider to keep your home in optimal shape and reap great value when it is time to sell. Pick one at a time if you are on a budget and see the difference it brings.