Planning on selling your home to move on to greater adventures? Whether you plan to move or simply increase the value of your investment, it is important to get the highest ROI as much as possible. This comes down to the factors of home value that includes the location of your home, market conditions, proximity to the location, and more. While you may not be able to change such details, you do have the power to control the home improvements.
While not all renovations are the same, it is important to understand what areas will give you the best return and the highest ROI. Check here 4 home renovation tips that will improve your ROI.
Upgrade the Floors
The floors are the most common renovation when it comes to upgrading your home. It is often the move necessary as just replacing carpet floors with hardwood floors will increase your return by 50 percent. While a full carpet area might feel comfortable, it is considered outdated and undesirable for the modern home. Consider hardwood or tiles for the upgrade.
Bathrooms are always the first place potential buyers look into. It is no surprise that an updated bathroom will increase your investment by a minimum of 75 percent. As these spaces are used daily, it is the most desired place to renovate and create a relaxing space. Aim for neutral materials and colors that will appeal to the general public.
The kitchen is another important aspect on the list of buyers. While it will be costly to upgrade, you will gain 100% of your return investment. If you are on a budget and unable to renovate the entire kitchen, changing the outdated features such as the countertop and features will do wonders.
Adding Extra Space
The best way to increase the value of your home is to add more space. Whether you plan to add a two-story section or even an extra room, the value will increase.
Do you plan to renovate your home soon? What areas are you planning to improve? Comment below and tell us what you think!