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TOP 6 HOME RENOVATIONS THAT BRING THE BEST RETURN

Stacey Sanders
Weichert, Realtors - Porter Properties
October 9, 2018

Home. It is the place where life happens, where memories are made—a place you make your own. For most people, it is also their single biggest investment. So when the time comes to sell their home, sellers want to be sure that all the improvements they have made to the property will translate to profit. Some renovations, like adding energy-efficient elements, bring about great returns. But adding a home theater? Not so much. 

Here are the top 6 home renovations that bring the best return on your investment.

  1. As I just mentioned, adding home efficiency elements like attic insulation or Energy Star-rated windows can bring the best return when it comes to resale. Investing in that improvement while you live in the home has the added benefit of potentially saving you money when it comes to utility expenses. Upgraded HVACs, water heaters and energy-efficient appliances are additional selling points for today’s buyers.
  2. Curb appeal is an important factor in selling a home. Though we wish people wouldn’t “judge a book by its cover,” it happens. The truth is that first impression when a potential buyer drives up to your home is critical. By swapping out overgrown landscaping, planting some flowering annuals and power washing your front drive, you can radically freshen the look of the exterior of your home.
  3. Kitchens are the heart of the home. If you are looking to make improvements to sell your home, updating the kitchen is a smart strategy. But it can be expensive. Economical, yet impactful changes include: updating to stainless appliances, painting cabinetry, upgrading the countertops, installing a great backsplash or replacing drawer and door pulls.
  4. Stylish bathroom remodels are becoming more popular than kitchen renovations. Replacing lighting or water fixtures will certainly make a great impact. You could also add a shiplap accent to a wall. A quick fix is simply re-caulking around the tub, shower and commode. You will be surprised at how much that can affect the appearance.
  5. The cheapest update with the most dramatic return is painting the home’s interior. A fresh coat of paint instantly livens up the room and provides a clean look. Don’t forget the baseboards!
  6. Does your flooring show wear and tear? You may want to consider replacing your flooring, focusing on the common areas foremost. A lot of research out there will tell you that you can recoup 70 to 80 percent of your funds by fixing your flooring, but what it will do for you at a minimum is set you apart in your sales price bracket.

Some renovations we make to our homes, like home theaters or custom indoor pet showers, are merely for our own enjoyment while we live there. They may have improved our quality of life, but they do not translate to profits in resale. As long as your expectations are in check, a renovation project can be a win-win for you and a potential buyer.

Stacey Sanders
Broker, Weichert, Realtors® - Porter Properties 
President-Elect, Alabama Association of Realtors®