Investing in home improvement projects with a high ROI—or return on investment—can significantly boost your home’s resale value. Below are ten home improvement projects with the highest return on investment in 2022.
Curb appeal says a lot about your home. It’s everyone’s first impression, after all! Investing in new landscaping can help make your house look fresh and appealing; however, it doesn’t have to be expensive or elaborate. Learn five critical curb appeal tips for sellers here.
2. Updated Kitchen Appliances
Needing to replace old and outdated appliances is a major turn-off for some buyers. A survey asked buyers for their biggest turn-offs, and outdated kitchen appliances were at the top of their list. Replacing old appliances, including the major ones like fridges and stoves, with newer ones will command a higher selling price. The return on investment is often worth it, even if you plan don’t plan on using the appliances for long before you sell.
3. New Front Door
A new front door is a quick and simple home improvement project that can make a big difference in your home’s appearance. The front door is something prospective buyers see right away when they eye your home. According to Forbes, your return on investment will likely be around 90%.
It may come as a surprise, but new windows can be a massive improvement for your home. As your windows age, they do a poorer job of insulating your house from the elements. Old windows often mean more allergens in the home, poor insulation, and higher energy bills. If you suspect that your windows are costing you money and comfort, consider replacing them with new, energy-efficient windows. The return on investment for window replacement is generally high, and prospective buyers will appreciate the upgrade.
Research via Realm indicates that new flooring can yield an average of upwards of 300% return on investment. New flooring quickly adds value to your home for years to come.
6. Bathroom Remodel
You don’t need to do an entire bathroom overhaul for this one. Replacing some quick, easier things such as wall coverings and old shower doors can be simple ways to give the illusion of a more updated bathroom. According to HGTV, this can yield up to a 102% return on investment.
7. A Fresh Coat of Paint
Sometimes a fresh coat of paint is all it takes to bring a room back to life. It’s also a great DIY project that won’t cause you an arm and a leg upfront! If you’re putting your house on the market, we recommend that you paint in neutral colors such as whites, grays, or creams to give the feeling of a larger and clean space.
8. Garage Door Replacements
Just like the front door, homes with front-facing garage doors can benefit from a garage door replacement. The return on investment will likely exceed the amount spent on new doors. Old garage doors can be an eyesore when trying to sell your home. This upgrade is also important if your garage doors are not in working condition. An updated garage door can also differentiate your home from all the others in the neighborhood.
9. Vinyl Siding Replacement
If the siding on your home is in poor condition, you may want to consider replacing it with vinyl siding. Vinyl is easy to maintain, inexpensive, and can be painted. Replacing your vinyl is a great way to improve the look of your home while living in it. When you go to sell, it will pay for itself!
10. Adding a Deck
In general, designated outdoor spaces are a hot item on many buyers’ wish lists. If you’re looking to add a deck to your home, it may be a smart way to increase your home’s value. Composite decking is a popular option, as it requires less maintenance than wood decks. When you sell your home in the future, a designated outdoor space will be a definite selling point.