Monday, December 19, 2022 / by Rebecca Wilson
Are you thinking about selling your home very soon or in the future? Have you wondered what upgrades you can do to your home to get the most return when you do?
We have done research to be able to provide you with a list of the highest return renovations that you can do.
**CAVEAT: Sometimes doing nothing can be better than doing just one renovation. The goal is to have the home as uniform as possible and improving the overall image.
If aren't sure which renovations will get you the best return in your home, let us guide you. Having a consultation with our team will give you the best advice. Book a consultation by clicking here: https://calendly.com/shaldunwilson/
1. Interior Painting and Finishes
Deep Clean and Declutter - 100% Return on Investment
90-100% Return on Investment
Lowest in upfront cost in comparison to the other renovations mentioned on this list
Gives your home a refreshed, updated look that will make it easier to sell
2. Finishing the Basement and/or Adding a Separate Basement Unit70% Return on Investment
High Cost, High Return
Additional living space or the ability to have a second unit for income potential is a great selling feature that will set you apart from other homes that may be up for sale in your area.
3. Kitchen Renovation or Remodel62% Return on Investment
High Cost, High Return
Renovated kitchens make a home look more desirable to potential buyers. Kitchen's can be a large project that some home buyers are not willing to do themselves. Having the kitchen already updated will entice more buyers to put an offer in on your home over other homes.
4. Bathroom Renovation or Remodel35% Return on Investment
Medium Cost, Medium Return
Depending on the size of your bathroom or how many bathrooms you have, the cost of renovating a bathroom can range from low to medium.
Like kitchens, home buyers see bathrooms as a bigger job they may not want to take on, and so updated bathrooms become a selling feature to potential buyers.
5.Eco-Upgrades (Shingles, Furnace, A/C Unit, Windows
55-70% Return on Investment
High Cost, Medium/Hight Return
Although features such as shingles, furnace, air conditioning and windows are not glamorous features of a home, they are still very important to home buyers.
Buyers generally do not want to move in and immediately have to replace these large value items. Out of convenience they will however be willing to spend more on a home that has already had these large ticket items replaced.