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7 Home Renovations With the Best ROI

Renovations can be a great way to increase the value of your home, while also making it more livable and enjoyable for you and your family. However, not all renovations offer the same return on investment (ROI), so it's important to consider projects that will have the biggest impact on your home's value if that is something that is important to you. Here are some renovation options that tend to offer the best ROI from my experience:

1. Kitchen remodel: A kitchen remodel is one of the most popular and effective ways to increase your home's value. Upgrading kitchen cabinets, countertops, and appliances can make a huge difference in the overall look and feel of the home, and it's something that buyers are willing to pay more for. Just think about it, you use your kitchen multiple times per day, so it just makes sense that people are willing to pay a premium for a house with an awesome updated kitchen!

2. Bathroom remodel: Like a kitchen remodel, a bathroom remodel can also be a great way to increase your home's value immensely. As much as we all hate to admit it, we spend a ton of time in these rooms, too. Upgrading the fixtures, flooring, and countertops can make a big difference in the overall look and feel of the room, and it's something that can give you a great ROI, especially if you increase the functionality. Take a half bath off a primary bedroom and make it a full bath by adding a gorgeous tiled shower and now you have a suite! Trust me, buyers will favor your house over others when it's the only one on the block with a jaw dropping private bathroom for the next homeowners.

3. Landscaping: Landscaping can be a great way to increase your home's curb appeal, which can in turn increase its worth. Simple things like planting flowers, adding a walkway or building a garden can make a big difference in how your home is perceived by potential buyers. Remember, your front door and curb appeal is like the "handshake" of your house! It's the first thing that buyers can judge as they roll up for their showing. I've even seen something as cheap and simple as new house numbers completely transform a home's curb appeal. Don't overthink it!

4. Roofing and Siding: A new roof and siding can make a big difference in the overall appearance and value of your home, too. In addition, they can improve energy efficiency, reduce maintenance costs and make potential buyers feel much more at ease with the condition. This is one remodel that you may be able to get your homeowner's insurance to pay for if issues were caused by something that is covered in your policy!

5. Adding a bedroom: Adding an additional bedroom can increase your home's value and make it more appealing to buyers with larger families. This could be a complete addition to your home where it makes sense with your layout or even finishing a space off that already exists such as an attic or basement with an egress window or walk-out. Adding square footage and finished space to your home is almost always a good idea!

6. Finishing a basement: Finishing a basement can add living space to your home and increase its value. It can also be used for a variety of purposes, such as a playroom, home office, home gym, guest room or entertainment area. The options are endless & a basement tends to be where buyers feel most cozy and at-home...make that extra square footage work FOR you!

7. Adding a deck or patio: Adding a deck or patio can be a good way to increase your home's value while also making it more enjoyable to entertain while you live in it. It can also be used as an additional living space and can improve the overall curb appeal and functionality of your home. These are especially important if your home is in a climate that is warm year round or where it's common for guests to be entertained outdoors. Be sure to consider your location when spending money on your backyard. Sometimes a hot tub and screened in patio, for example, could make a bigger impact on a future buyer's view of your backyard oasis over a pool and it could save you money in the process. This is an addition/remodel I would certainly reach out to your favorite realtor about to make sure you are getting your best bang for your buck if you're torn on what to do!

Keep in mind that these are general guidelines, and the specific ROI for a renovation will vary depending on the location, condition, quality of work and style of your home, as well as the current housing market. It's always a good idea to consult with a real estate agent or contractor to get a better idea of what renovations will offer the best ROI for your specific property and I would love to help!

Note that while it's important to consider the potential return on investment when undertaking a home renovation, it's also important to consider your personal needs and preferences if you plan to live in the home for years to come. Renovations that make the space more enjoyable for you and your family can be just as important as those that increase the value of your home. It's all about your goals and future plans!

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