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In a competitive seller's market, the quest for remodel projects offering the greatest returns becomes crucial. If you're gearing up to sell your house, focusing on improvements that substantially enhance your home's value is essential.
We sought insights from seasoned real estate agents to determine the prime areas for remodeling that yield the highest resale value. Here's what they recommended.
Bathrooms
Bathrooms of any size, from powder rooms to primary suites, significantly elevate your home's worth. They should be among your top considerations when aiming to maximize your home's value. According to the Cost vs. Value Report, remodeling bathrooms can yield a robust ROI ranging between 46-66%.
A midrange budget bathroom makeover can potentially recoup up to 66% of your investment, especially with a midrange budget. Prioritize updating the flooring, fixtures, and backsplash. Transform the space by replacing the vanity and consider adding trendy faucets to leave a lasting impression on potential buyers.
Opting for a universal/accessible layout can also yield a substantial 46% ROI, appealing to various demographics, including seniors looking to age in place and families with accessibility needs.
Fireplace
A fireplace can be a simple addition that can yield up to a 12% return depending on the type and location. They can center a design and amp up the cozy factor so your home feels like a whole new space.
Opt for an electric fireplace to reap the benefits of a more tidy and environmentally friendly fire than a wood-burning fireplace. It can be installed almost anywhere, no plumbing or exhaust is needed, plus there’s minimal installation effort.
Whether you go for a linear look or a grand fireplace with mantel, the value add here is that you’re creating a space for family and friends to gather—something you really can’t put a price on.
Primary Suite Remodel
Primary suites hold significant appeal for buyers. Bedrooms with attached bathrooms can increase your home's selling price, with primary suite remodels offering a commendable 30% return. Key elements for a compelling primary bath include walk-in closets, standalone tubs, separate showers, and a spa-like ambiance.
Front Door
Swapping out your front door represents one of the most cost-effective methods to increase your home's value, with a potential ROI of 100%. Consider opting for a 20-gauge steel door and updating various components like jambs, stops, threshold, and locks for maximum impact.
Expanding the door width or adding sidelights, especially with half or full glass, enhances curb appeal, making your home more memorable to potential buyers and potentially commanding a higher price.
Kitchen Remodel
Kitchens often top the wish lists of prospective buyers. They remain a prime candidate for remodeling to bolster resale value. Families desire move-in-ready kitchens without the need for extensive updates.
A minor kitchen renovation can yield an impressive 85% return. Focus on essential aspects like flooring, cabinets, and countertops. Incorporating high-quality features like soft-close mechanisms, stone countertops, and a versatile yet attention-grabbing backsplash can significantly enhance the space's appeal.
Garage Door
Similar to the front door, upgrading the garage door is a high-yield, cost-effective investment. With a massive 103% ROI, this enhancement significantly contributes to the coveted curb appeal that buyers appreciate.
Opt for garage doors with added detail, such as carriage house style or windows across the top, to amplify the visual appeal. Since this is primarily a cosmetic upgrade, retaining the existing motor if it's in good condition can help manage costs.
Maximize your investments by focusing on projects that promise the highest returns. By prioritizing these key areas for remodeling, you can significantly boost your home's value and attract potential buyers effectively.
Looking for more remodeling ideas? Explore additional suggestions here.
