The 5 Home Upgrades With the Best ROI

There are a lot of improvements and upgrades you can do to your home, but not all of them will come with a big return on investment. Today, I wanted to share the top five home improvements you can do to your home to increase the return on the money you invest.

1. Replace the front door. If you can't replace the door, I recommend painting it. It makes the first impression on a buyer driving up to your home, and a new door or new color can really make the house pop. Buyers are looking to see things that are wrong with the house when they walk in, so the fewer objections you can give a buyer - starting with the front door - the better off you are when it comes to negotiation. This yields a better return than 96% of all other renovations.
2. Wood deck additions. This yields an 87.4% return on your money.
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Not all renovations offer a good
return on investment.
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3. Attic, bedroom, or efficiency garage conversions yield an 84.3% return. It's unused space, so if you can convert it into something useful and get back nearly 85% of the money you invest, it's absolutely worth it.
4. Garage door replacement. This goes back to first impressions. Buyers don't want to drive up to a garage door with dings and marks on it, or one that is not working properly. This yields an 83.7% return.
5. Minor kitchen remodels will get you an 82.7% return on investment. Kitchens are really big for buyers, and they want to know that when they move in, they won’t have to invest a ton of money to make it more modern. Minor things like painting the cabinets, replacing the appliances, changing the countertops, or anything that can bring a modern appeal to the kitchen will give you a big return.

These home improvements will bring you the best return on your investment, so they are the things you'll want to focus on if you're thinking of putting your home on the market.

If you're thinking about selling and you'd like to know what you can do in your home specifically to get a better return on investment, give me a call. I'd be happy to give you some advice on how to maximize your return.

If you have any questions about buying or selling a home, or you have any questions at all about real estate in Southern Maine, don't hesitate to contact me. I would be happy to help you!