Home Improvements That Offer the Best ROI When Selling

You want to have the best home on the block when you're selling. But if your home is a bit outdated or could use some changes, you might want to consider some upgrades before you list your home on the market. Certain improvements can really make your home show a lot better while still allowing you to recoup any expenses related to making them. Other improvements, on the other hand, cost far too much than the return you'll likely see on them.

The question is, which upgrades tend to make the biggest impact and bring in the best ROI?

Refaced Kitchen Cabinets

A complete kitchen gut-job will definitely have a significant impact on the overall look and value of a home, but this type of work is incredibly expensive. Rather than totally renovating your kitchen from top to bottom, you could just focus on cosmetic components that take a lot less time, effort, and money to update. 

For instance, the kitchen cabinets can get a major overhaul simply by sanding them down and repainting them in a fresh new colour. If the cabinets themselves are in decent shape, there's no reason to completely replace them. Instead, just a simple refacing job is enough to make a positive impact without dishing out much money to get it done.

New Kitchen Countertops

The counters in a kitchen also speak volumes. If your counters are old and showing major signs of wear and tear, you might want to consider replacing them with something more modern. Granite countertops always make a good impression on buyers. In fact, today's sophisticated buyer has come to expect granite in kitchens, as well as in bathrooms. 

While granite may have been very expensive when it first came out, it is actually rather affordable these days. A great home improvement project you might want to undertake is changing the countertops in your kitchen. It will vastly enhance the esthetics of the place and help you recoup the money spent when it comes time to sell.

New Light Fixtures

It's amazing what new light fixtures can do to the looks of a home. Whether your current lighting is old or even non-existent, adding some modern light fixtures is a relatively affordable way to make some improvements to your home that can help add to its the perceived value. 

Newly Painted Front Door

The front door plays a key role in the curb appeal of your home. In addition to the landscaping, driveway, and the condition of the exterior walls, the front door helps make your home look much more attractive from the street. If your front door has seen better days, perhaps a fresh new coat of paint will do the trick. 

It's amazing what a paint job can do to refresh the look of a surface. If your door is in particularly rough shape, however, you may want to replace it altogether. This shouldn't cost you much more than a couple of hundred dollars, but it can go a long way to improving your home's curb appeal, which is important for the overall value of your home.

Freshly Painted Walls

While you've got the paint brush out, why not give your home's interior walls a fresh coat? A couple of cans of paint and some elbow grease won't cost much, but the end product and the ROI will be well worth the work involved. In fact, a new paint job tends to bring in the highest ROI among any other type of home improvement project, and it's usually the fastest and easiest job to do. 

New Knobs and Handles

Believe it or not, but the knobs on all your cabinet doors and drawers have a huge impact on your home's appearance. If the ones you currently have are old, ugly, or hanging off their hinges, make the change to something new and more modern. Swapping out your old hardware for something more sophisticated and stylish will speak to buyers when they come for a visit, and it's not a very expensive endeavour either.

Install Hardwood Flooring

Buyers absolutely love hardwood flooring and are willing to pay more for it. If your home currently has something other than hardwood - such as carpeting or cheap vinyl - consider installing hardwood flooring. While this job might be a bit labour-intensive and pricey, it can help you increase the value of your home, especially if your current flooring is in rough shape.

Final Thoughts

When you decide to make some changes to your home before selling it, make sure that the improvements you make are those that buyers will appreciate. In addition, be sure that they're not so expensive that you won't recoup much of the money spent when you finally sell. Get some advice from your real estate team about what buyers in your area are looking for and what types of upgrades make the most financial sense.