We are asked time and time again what home improvements have the biggest return on investment (ROI). April is generally the time homeowners commence their home improvement projects, and it is never too early to start planning and budgeting so you’re ready to hit the ground running. These projects, which range from small upgrades to full-scale renovations, are ideal for improving both the short and long-term value in your home. While some home improvement projects can significantly increase your home’s value, others can end up costing you more than they’re worth.
If you’re considering listing your home anytime soon, it might be worth considering some of these to ensure you get the highest return.
1) Landscaping/Curb Appeal
Landscaping can be one of the most valuable home improvements. Updating the “curb appeal” is typically one of the least expensive ways a homeowner can increase the overall value of their home. Most any improvements to the exterior of your home, especially landscaping, will certainly add value to your home and get potential buyers gawking.
2) Deck and Patio Additions
Deck and patio additions are becoming more and more sought out and are one of the more financially savvy home improvements you can make. We suggest envisioning the deck space like setting up an open concept living/dining space. Be sure to provide plenty of seating and don’t forget the accessories. We found that the combination of outdoor rugs, throw pillows and plants are enough to create a fun and comfortable space where everyone will want to hang out.
3) Entry Door Replacement
Included with the curb appeal is your entry door. It may seem like an afterthought, but your front door makes a big statement. Not only does this have a major impact on the overall look of your home, but more often than not, you can improve your home’s energy efficiency. Complement your new front door by adding a new welcome mat, some sleek house numbers, and a few plants. Alternatively, if that’s too expensive, you can always consider giving your old door a fresh new look with a coat of paint.
4) Minor Kitchen Remodel
The kitchen is the heart of every home and a major focal point for home buyers. You don’t have to spend the cash to completely remodel your kitchen to see the benefit; however, simple changes like refinishing the cabinetry, adding a backsplash, updating appliances, and replacing the countertops can add great value to your home.
5) Replacements Windows
Given the drastic seasonal temperature changes in Denver, it is wise to invest in windows that are energy efficient so you stay warmer during the winter months and cooler during the summer months. Not only will this add to your home’s overall comfort, but it will also help you save on your monthly utility bills.
Thinking about buying or selling? Contact us for a free consultation!