New year, new goals.
One of those may be renovating your home. If you’ve started thinking about where to budget those home renovations, consider these 5 home improvements that can give you the best return on your investment.
Generally speaking, when you spend 6-10% of the value of your home on home improvements, you’re said to be guaranteed a fair return.
Here are the 5 home improvements for the best return:
1. Kitchen renovation
This could be as simple as painting the cupboards and changing out the hardware or a complete gut job that restructures your kitchen area to a more open concept feel.
2. Bathroom remodel
Giving your kitchen and bathrooms a facelift will always add value to your home. Paint color, changing the vanity or shower/bath area can really make a big impact.
3. Curb appeal
The outside is the first impression people have of your home. It’s important to make sure it is inviting and kept up. If you don’t have much of a green thumb, hire someone to maintain or get landscaping that is low maintenance but still looks good.
4. Add square footage
This is can easily be one of the most expensive options when renovating a home and yet can bring one of the largest returns. Make sure you’re adding the right square footage that makes sense for your home and neighborhood.
5. Fresh coat of paint
While adding square footage can be the most expensive, this is the least expensive and can make a big impact. Both interior and exterior paint can give a freshness and newness to the property without breaking your budget. Consider colors that compliment the aesthetics of the home. There are so many options out there, so create a Pinterest board to get those ideas flowing.
Regardless of the home renovations you decide to tackle if you’re planning on staying in the home longer than 1 year, do something you’ll enjoy.
When you know your budget and what you’re ready to renovate in your home, make sure you are not over-improving your property. Know your neighborhood and area.
Contact us if you want to get a comparable market analysis for FREE to see what your home is worth and what the best renovations would be.
An active Oviedo resident, Jenelle brings over 16 years of experience in the real estate and hospitality industries. Jenelle has learned to evolve and thrive with the constant changes and cycles of the real estate market. As broker associate and owner of Waypointe Group, she built this company with the client in mind. With a growing team, we continue to guarantee our service to our sellers and buyers every day and exceed expectations. We strive to educate our clients on the real estate process every step of the way.
Jenelle holds a B.A. degree in Communications and a minor in Business from Southeastern University and a M.S. degree in Entertainment Business from Full Sail University.