Home Renovations & Updates with the Highest Return on Your Investment!

While homeowners are deciding whether or not to take advantage of the historic seller’s market that the Triangle finds itself in, one question always seems to be on the top of the list: What kind of work will I have to put into the house before it would be ready to sell?  While the answer undoubtedly varies from home to home, there are some specifics that you can count on when it comes to a solid return on your investment!  If you’re looking at making a statement, without fronting too much cash, start with these renovations that have proven to give homes of all shapes and size the best return on investment and increase in value!

Replacing/updating the garage door.

·        Average ROI – 95%

It comes as a surprise to many homeowners that replacing the garage door is actually one of the best updates you can make on your home.  Not only will this give your home a polished look, it ensures the garage is safe & secure and can withstand the elements of our weather. Whether you choose to stain your current garage door or replace it all together, you’ll be surprised just how much of a statement it makes when driving up to your home.

A minor kitchen remodel.

·        Average ROI – 98%

When buyers are instantly sold on a home, it’s typically due to one (or both) of two rooms: the bathroom or the kitchen.  These rooms have the highest potential to be show-stoppers.  Even a minor remodel on your kitchen can go a long way as far as your gaining back your investment.  Starting with projects such as brightening the walls and cabinets with a fresh coat of paint, and updating the hardware on all of your drawers and cabinets will make a big, yet tasteful, statement with little investment.  Then, invest what you’re willing into updating the countertops, appliances, and adding recessed lighting.

Maintaining and upgrading the landscaping.

·        Average ROI – 100% (within reason)

The caveat with the landscaping is simple: don’t go overboard.  Luckily, a lot of landscaping can be done on your own although it may be time-consuming, it will save quite a bit of money.  On the other hand, the ROI is so promising, that a professional can be justified in most cases!  Start by weeding your property and getting rid of everything that is overgrown.  Then, put down mulch or stone to fill it all in.  Once everything is cleared, you’ll have a better idea of what, if anything, you’ll want to add.  If you choose to go the route of hiring professional help, always make sure to call around for quotes!  Many garden centers will give design advice free of charge.   

A minor bathroom remodel.

·        Average Roi – 100%

The beauty of a minor bathroom remodel?  You can do quite a bit yourself, cutting back on labor costs!  And the ROI is almost guaranteed to come back in full.  Take a look at your bathroom and decide what is most important and what will fit into your budget.  While possibly tedious, painting, re-caulking the tub, and updating the flooring can all be a DIY project.  Although the rest might need professional help, it’s worth it in the long run.  Replace the toilet, sink, vanity, or fixtures if they are too outdated.  As far as the walls and tub are concerned, they can also be freshened up a light glaze and a fresh coat of paint, respectively. 

Replacing your main entry door.

·        Average ROI – 95%

The front entryway of your home is one of the very first things people will see when arriving for a viewing, or driving past to decide whether or not they’re interested in looking at the property- which means it’s a big first impression for potential buyers.  Ensure you’re putting your best foot forward. Your front door is a main focal and has a high ROI.  If your door is in good shape, just give it a fresh stain or a nice, neutral, coat of paint.  Otherwise, it’s worth replacing altogether.  You may also consider ways in which you can update or decorate the rest of the entryway.  Even (tasteful) seasonal décor makes a statement!  Make sure to add outdoor furniture to your front porch or patio, if you have one.  The more welcoming the front of your home looks, the higher ROI you can count on.  

Replacing the windows.

·        Average ROI – 90%

It makes sense why updating the windows in your home result in a great return on your investment.  To start, they assure future homeowners that they’ll provide proper insulation from both potential hot and cold climates, cutting back on electricity costs while also providing comfort.  They are also far more likely to look up-to-date with what’s in style, making the rest of the home look updated as well.  Updating windows is the perfect investment for a climate such as the Triangle!

Adding or updating your back porch or patio.

·        Average ROI – 90%

Having living space and the ability to entertain outdoors is a buyer preference that is here to stay.  If you don’t have a deck or a patio, invest in something fairly simple, yet dependable, such as a pressure-treated wood deck or a sizeable concrete patio.  Make sure to keep it clean and presentable throughout the selling process, whenever you choose to put your home on the market.  Make sure to add lighting, comfy outdoor furniture, and planters for an inviting feel. 

If you’re thinking of selling, make sure to consult with Masha and utilize her expertise of the market and area before making any remodeling decisions.

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Call us today if you want to experience superior marketing for your home or investment property.

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Masha Halpern Boutique Real Estate is your ultimate real estate resource for Chapel Hill, Durham, Carrboro, and surrounding areas. Visit my website at www.LiveLoveChapelHillDurham.com for detailed information regarding today’s real estate markets.

Masha is a certified member of The Luxury Home Marketing Institute, participates in its annual Leaders in Luxury Conference, and works with The Institute’s thousands of members worldwide to share information about current listings.

Masha is also a certified member of Keller Williams Luxury International and is Chapel Hill & Durham's EXCLUSIVE  member of Cyber Stars International – Top Realtors Using Technology – a group dedicated to taking the best and latest technological advances and applying them to real estate advertising and marketing for her clients in all price points. Masha Halpern can be contacted for a private consultation by calling 919-951-1780 or by visiting www.LiveLoveChapelHillDurham.com.

** BLOG CREATED BY AMANDA PETERSON