The Renovations That Give You the Best ROI

Dated: June 15 2020

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Renovating your home can lead to an incredibly high return on investment.

 

It can be difficult to decipher if a helpful update on your home will end up being a money pit on your wallet - doing some research beforehand can help curb these curiosities and potential pitfalls.

 

Whether you’re planning on selling your home or simply attempting a few upgrades to improve your property, it’s important to know what the potential ROI is before you get started.

 

The following list has been curated to assist you with determining your (potentially) greatest ROI – especially if you’re ready to sell.

 

This list begins with projects that on-average yield the highest return and end with the lowest - which is still about 90% return on investment!

 

1. Small Bathroom Renovation

 

Small bathroom renovations are good choices for ROI. However, small tweaks to the bathroom are best. Any huge overhauls will leave a huge dent on your wallet that may not be worth it.

 

Minor adjustments like shower head changes and switching out vanities and lighting are safe bets. 

 

2. Landscaping 

 

Landscaping in front of your home is the first impression your home will give to potential buyers. Something as simple as a trim lawn can add to the curb appeal of your home. 

 

3. Small Kitchen Renovation

 

Entire kitchen overhauls are not always necessary. Sometimes, a fresh coat of paint over existing cabinets and switching out appliances are enough to make your kitchen look brand new. Hardware is also a good and often inexpensive way to boost the appeal of your kitchen. 

 

4. Entry Door Replacement

 

A beautiful entry door is sometimes the first thing that potential buyers notice. A lot of buyers are able to decide if they want to buy a home in the first few minutes of seeing it. Investing in a door will help make a good first impression of your property. 

 

5. Deck/Patio/Porch Remodel

 

If homeowners have the space to make an addition of a deck, patio, or porch to their property they should take advantage. Usable outdoor spaces like these are now almost a necessity.

 

6. Replacement Windows

 

New windows can sometimes be very energy efficient and something that buyers look for. Also, new windows will help the appearance of a home to look brand new from the outside in. 

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Andrew Haried

Andrew Haried is an integral member of the Owen Duffy Group, a top 1% group in Chicago. He serves a wide variety of clients including first-time home buyers, renters, and seasoned investors.Andrew is ....

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