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Which Home Improvements Bring the Best Return on Your Investment?

If you’re looking to sell your home, there are a few of things you should and shouldn’t do to maximize your return.

The holidays can be tricky enough to navigate without having to worry about getting your home ready to list in the spring. Everyone wants to get the most money for their home, and sellers will often consider updating certain property features to persuade interested buyers that their home is worth more.

The holidays can be tricky enough to navigate

without having to worry about getting your home ready to list in the spring.

However, there are a few renovations that are less likely to recoup value. Here are a few projects that you should specifically avoid:

1. Swimming Pools: A pool can be great, especially if it’s been there for a while, and you’ve had time to enjoy it. That said, the return on a swimming pool is typically only 25-30%, so if you’re looking to install a pool right before going on the market, that may not be a good idea.

2. Extreme Renovations: If none of the other homes have the renovations you’re looking to complete, your home will likely be the most expensive in the neighborhood, making it harder to sell.

3. Hidden Renovations: There may be times when the HVAC system breaks, and you have to replace it. When it comes to ROI however, you are not likely to see a dollar-for-dollar return on your investment.

Now, what are the renovation projects that will yield you a higher return?

1. Flooring and Carpets: When someone walks into your home for the first time, the first thing they will notice is the floor. There are plenty of affordable options that will give buyers a great first impression.

2. Kitchen Upgrades: An outdated kitchen is a great opportunity to increase your overall return. There are so many affordable upgrades you can make to your kitchen to give it a luxurious feel. Often, what has been done to the kitchen regarding upgrades is a huge indication of the value of the home.

3. Bathrooms: Projects as simple as updating the vanity, towel bar, sinks, and countertops can create an environment that’s more attractive to potential buyers and entice them to pay a little more for having those features ready by the time they move in.

4. Landscaping: Most buyers will start to get an impression of your home the minute they pull into the driveway. To improve your property’s saleability and ROI, plant flower beds and attractive shrubbery, cut the grass, and remove dead and unattractive plants from your lawn

If you have any other questions, please feel free to reach out to us.

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