Renovating your home can be a great way to make it feel more like your own and can sometimes be necessary. When deciding between adding a master suite or renovating the bathroom, it often comes down to personal preference.
However, when preparing to sell your home, it’s important to consider the cost of renovations and the potential return on investment. Some home improvement projects can provide a good return, while others may not be as cost-effective. It’s best to focus on projects that both have the potential for strong returns and will make a significant impact on the appeal of the home to buyers.
In this post, we’re going to mention 6 home improvement projects that actually pay off and why you should choose them this year.
1. Paint the walls
One affordable and efficient way to refresh your home is to simply paint the walls. Rather than undertaking costly and time-consuming renovations like moving walls or adding on to your home, a fresh coat of paint can go a long way in making a good impression.
Fixing any holes in the walls and painting the interior with neutral colors may not significantly increase the value of your home, but it won’t cost much either. On average, you can expect to see a return on investment of over 105% for interior painting and 80% for exterior painting.
2. Refinish hardwood floors
By resurfacing or replacing your hardwood floors, you can increase the value of your home and make a great first impression on potential buyers. On average, this type of renovation can have a return on investment of 70-80%.
Hardwood floors offer a variety of stain colors and can be timeless or trendy, making them a great choice over wall-to-wall carpet. You can choose to do this project yourself or hire professionals to complete the work. Either way, updating your floors can be an effective way to enhance your home.
3. Replace your front door
One way to increase the value of your home is to replace the front door, garage door, and/or windows. This can be especially effective in cold weather areas, where window replacement can have a return on investment of up to 70%.
Replacing the front door can also have a high ROI, with some homeowners seeing returns of 80% or more. If you have an older door that is in good condition, you may be able to increase your return even further by stripping and refinishing it yourself.
4. Update kitchen fixtures
To improve the appeal of your kitchen without spending a lot of money, consider updating small details like fixtures. Replacing the faucet and lights can be an effective way to increase the value of your home without going over budget. Aim for cost-effective and attractive options rather than extravagant ones. This can be a simple and affordable way to give your kitchen a fresh look before selling. Hire a reliable kitchen remodeling contractor to update your kitchen!
5. Add or refresh the deck
Investing in a patio or deck can be a good way to increase the appeal of your home to potential buyers. While the return on investment for these features is only around 66%, they can help your home sell more quickly.
If your patio or deck is in poor condition, consider refinishing or repairing it rather than replacing it. This can be a more cost-effective way to make these outdoor spaces more attractive. Keep in mind that building a patio or deck will likely be less expensive than installing an inground pool.
Related: 10 Home Improvement Projects With High ROI That You Can Do In 2023 Without Breaking The Bank
6. Focus on curb appeal
To increase the curb appeal of your home, consider mowing the lawn, power washing the walkways, trimming hedges, and repairing any significant cracks in the concrete. You can also consider hiring a lawn care service to help your yard look its best.
By focusing on these small details, you can make a big impression on potential buyers and potentially see returns of 80% or more on your investment. If you have already made improvements such as replacing the garage door and adding a stone veneer, these additional steps can help your home stand out even more.
TSP Contracting is the best platform to get all kinds of home improvement services in Virginia, Maryland, and Washington DC!
If you want to paint, remodel or renovate your home, we’ll be happy to assist you. From minor repairs to major installations, we do it all. So, feel free to call us or request your FREE quote right now!