For many homeowners, home improvements aren’t just about creating a more comfortable living space – they’re also the key to boosting property value. Here are the home improvement projects that offer the highest return on investment (ROI) on a property:
Kitchen Renovations
Upgrading your kitchen with new cabinets, countertops and appliances offers a significant ROI of 70% – 80%, on average. These upgrades will refresh the space, making it more appealing to potential buyers. Even some minor, cost-effective options, like replacing hardware or painting cabinets, will still enhance significant value.
Bathroom Upgrades
Modernizing fixtures, lighting, and tiling can significantly boost value and yield an ROI of around 60% – 70%. Consider cost-saving options such as reglazing tubs or replacing faucets, which will give your bathroom an immediate facelift.
Energy-Efficient Upgrades
Installing energy-efficient windows, doors, and appliances not only increases immediate value but also leads to long-term savings on energy bills. The ROI of these upgrades can be measured both in terms of immediate value increase and long-term savings.
Curb Appeal Enhancements
Enhancing the exterior of your home through landscaping, painting, or installing new doors can significantly improve its curb appeal, offering an immediate visual impact. Such projects can yield an ROI of up to 90-100%.