High-ROI Home Improvements to Make Before Selling

It is a common belief in real estate that often a home will be sold based on its bathrooms and kitchen. That, however, doesn't mean these are the smartest areas to make major investments in. This is especially true if someone selling their home is looking to get the best return on investment (ROI). In fact, investing a large amount of money in a kitchen or bath may help sell the home quicker but it is likely not going to pay off in terms of ROI. A list of the home improvement projects that offer an attractive return on investment may contain some surprises. What are these areas sellers should consider when focusing on ROI?

The Entry Door

A new steel or designer entry door can pay off in multiple ways. A brand new door makes a great first impression and improves curb appeal. It can also add 90% or more of its purchase price to the value of your home. There is also value to the new owner in better security, soundproofing, and insulation. Now, that's maximizing an investment!

Minor Bathroom Improvements

Home improvement television personality Bob Villa suggest bathroom improvements can get up to 100% ROI as long as they are relatively minor and well-thought out. He suggests upgrades like flooring, a taller toilet, a new tub surround, and new fixtures. He cautions about adding fixtures that are too luxurious and encourages mid-range improvements. He makes similar suggestions when it comes to any kitchen improvements.

Garage Door

A garage door can return 98% of the money invested in it, especially in more upscale homes. Considering how large most garage doors are and how visible they are on most homes, it would make senses they would bring a significant ROI when selling a home. A new garage door may not be a "sexy" choice but it can be very practical.

Wood Deck Addition

Outdoor space is becoming more and more of a draw for today's buyers. This can make an outdoor wooden deck a good investment. The 2018 Remodeling Magazine “Cost vs Value” report indicates that a wooden deck can return upwards of 83% of its original cost when selling a home. A more expensive composite deck would not fare as well.

Manufactured Stone Veneer

If a home's exterior looks a bit outdated and could use an upgrade, a manufactured stone veneer is an excellent option when it comes to ROI. Some experts say such an upgrade could return nearly 100% of the money invested in it. A new manufactured stone veneer exterior can add tremendously to a home's curb appeal and its appearance in images, so important in today's market. It can also minimize time on the market.

Making the Right Home Improvement Decisions

Sellers should keep in mind that home improvement decisions should be made based on their specific home. If a house, for example, needs a new roof, it should be replaced in spite of the fact that it may only return 60-70% of its costs. Home improvements that are luxurious rarely have a good ROI so improvement materials should always be mid-range. Keep in mind there are many small DIY projects like planting flowers and bushes, mulching, painting and more that bring an exceptional ROI.

ROI rates are frequently dependent on region, so sellers can often benefit from discussing such improvements with a Hillcrest real estate professional in their area. Make improvements wisely to increase the ROI when selling your home.