Maximizing Your Home's Value: Top Renovations That Pay Off!

When it comes to increasing the value of your home, not all renovations are created equal. Some upgrades can significantly boost your property's worth and appeal, while others might not give you the return on investment you're hoping for. If you're considering making changes to your home, it's crucial to know which renovations can deliver the most bang for your buck. Here's a look at the top renovations that are typically known to add the most value to your house.

1. Minor Kitchen Remodel

The kitchen is often considered the heart of the home, it is the central gathering place and the location where a family spends the majority of their time. It is also one of the first places potential buyers look when they are considering a purchase. For this reason, a modern updated kitchen can be a major selling point. Consider investing in high-quality countertops, backsplash, and appliances, to create an inviting space. Sleek cabinetry and vibrant paint can also help make the kitchen feel more open and spacious. Even Minor Kitchen Remodels like painting, replacing fixtures, and even intentional lighting can have a significant impact.

2. Additional Bathrooms Added or Current Ones Renovated

Second to the Kitchen, bathrooms are some of the most scrutinized rooms by potential buyers. According to Cincinnati MLS data for all home sales under 250,000 on average, the basic 3-bedroom home with 2 bathrooms had a sale price 10.62% higher than 3-bedroom homes with 1 bath. If your current floor plan would benefit from an extra washroom, and budget allows, consider creating space to add an extra half bath. Otherwise, renovations similar to kitchen renovations can go a long way to making the bathroom an inviting space. Larger tasks, like re-coating the shower tiles or replacing the toilets and vanities are excellent ideas. Even smaller items such as upgrading old fixtures, improving lighting, and adding modern touches can significantly increase your home value.

Kitchen remodeling and bathroom upgrades are the two that will add the most value to your home. The following items are nice to haves and might become a point of negotiation during the contractual period of the sale if not taken care of.

2. Window Replacement

Usually, older homes are outfitted with old wooden or aluminum single-pane windows. Replacement windows are usually double or triple-pane and offer better, curb appeal, security, and heat insulation! Window replacement is something that an educated buyer will consider when determining their offer price.

3. Fresh Paint

Never underestimate the power of a fresh coat of paint. It's one of the most cost-effective ways to update your home and make it feel clean and modern. Stick to neutral colors that can appeal to a wide range of buyers.

6. Amplify Outdoor Living Space

Everyone loves a good outdoor living space, use this as a tool when marketing your property for sale. I have seen buyers get excited over two things 1) a blank canvas; a fenced-in yard with nothing but green grass. This allows the new homeowners to make the outdoor space their own without having to consider the current setup. 2) "The Dream set up" adversely this does not give prospective buyers the freedom to customize the outdoor space to their specific needs, as a seller you could be limiting your prospecting options by over-improving the backyard. For example: a family with infant children may be turned off by a pool in the backyard. When creating an outdoor living space tread lightly, and if you are going to remain in the home for a while create a space that YOU enjoy, and the rest will work itself out.

In conclusion, home renovations can be fun DIY projects. Some home improvements will add more value to than others but all improvements contribute to a more inviting living space. Whether you are planning to sell your home soon, or you just moved into your new pad, take a moment to consider the net gain or loss on your upcoming DIY projects!

-Cameron Gunnels