What was your New Year’s resolution? Was it to update or remodel your home to get it ready to put on the market?
Here are a few ways you can remodel with the highest return on investment, or ROI.
Side note, this year, every month we will focus on a specific room and what is trending in 2021 for buyers.
Kitchen
Due to the current pandemic, homeowners have found even more value in their kitchens, and that means home buyers will be looking for kitchens that have already been updated so they don’t have to invest in the most important room of the house. Updating your cabinets, hardware and moving over to energy efficient appliances can recoup about 80%.
Don’t spend all of your budget updating your kitchen though, because you still want it to remain cohesive with the rest of your house.
Some tips on remodeling your kitchen on a budget:
Limit your color choices to one neutral color (black kitchens are trending in 2021, be sure to subscribe to hear more about this in the next episode) and one color for your countertops.
For around $70 you can pick up a cabinet paint kit at your local home improvement store, which includes everything you need to get the project done, and also includes a primer that will help eat away at any sealant that was left on your old cabinets, saving you time and money on having to sand everything down first.
You may also choose to use peel and stick backsplash that can again be less expensive and save time rather than investing in real tile for a home you are trying to put on the market. A traditional square foot of subway tile can cost you around $9, not including the supplies you need to purchase to adhere your tile to the wall, while a square foot of peel and stick subway tile can cost as low as $3 per square foot and already includes the adhesive on the backing.
Bathrooms
This room is also very important to buyers and updating will bring about a 70% ROI. But remember to keep in mind that if you are looking to sell, avoid a full remodel. Focus on repainting cabinets and changing out hardware.
Flooring
Having hardwood floors will recoup on average 100% of cost. This is huge! But even if you don’t have the budget or time to invest in hardwood, there is always the option of laminate floors. Keeping your floors hardwood is nice for buyers because changing out of an area rug is less of a commitment than having to replace all the carpeting in a room.
Landscaping
As mentioned in previous articles, curb appeal is very important because it is your home’s first impression, and you can only make that one time. Having a steele door or replacing the garage door shows a 97% ROI. Adding a a deck to your backyard can give you a return of about 80%. Don’t stress if you can’t get these things done before selling your home though, there are always things you can do to improve your curb appeal when on a budget.
Click here to see how little improvements can help bring your curb appeal to the next level.