Renovating a home before listing it is an idea many home sellers have, but they’re not often sure where to start. Which renovations on your home will get you the best ROI? The answers might surprise you!
Here is a list of the best renovations you can do on your home before listing to increase it’s value and earn the highest return on your investment.
Kitchen Remodel: 79.3%
While a kitchen remodel can be among the most expensive of the renovations you can do to sell your home, the return on your investment is quite decent and an updated, beautiful and modern kitchen is something that will attract buyers like nothing else.
Window Replacement: 77.5%
Energy-efficiency of a home is important to buyers. When some buyers are looking at a home, they’re not only considering the price of the home itself but the cost of operating the home long-term. New windows, like vinyl windows or wooden windows, can increase both the curb appeal and energy-efficiency of a home and appeal greatly to buyers.
Vinyl Siding: 80.7%
Vinyl siding is popular and low-cost, while certain brands offer energy-efficiency qualities. It’s also a great way to make the exterior of your home look clean and colourful, boosting your curb appeal.
Steel Entry Door: 101.8%
Adding a steel entry door to your home is relatively inexpensive and you can expect to recoup your initial expense and then some. They can boost a home’s security, curb appeal, and energy-efficiency.
Attic Conversion: 77.2%
Attic conversions can be a very big expense, but they can also allow you to increase the number of bedrooms that your home has and therefore increase its value significantly.
Installing a Wood Deck: 80.5%
At the bare minimum, a wooden deck ROI is just over 80%. However, if you live somewhere with a great view, this could be even higher.
Fiber Cement Siding: 84.3%
Fiber-cement siding is another kind of siding that is known to be extremely durable and buyers can perceive this siding to be of higher quality than vinyl siding, which is why its potential ROI is higher.
Garage Door Replacement: 88.4%
New garage doors can increase curb appeal and the value of any home, however the initial expense of your choice in garage door can impact its potential ROI. While an upscale garage door can bring an ROI of 88.4%, more mid-range replacements will only bring 82.5%.