The list of home improvement ideas can seem endless and intimidating. As a homeowner, it is critical to understand which projects to invest in and which to avoid. Here are a few key projects to consider that have been surveyed across the board to present the biggest return on investment (ROI) and add value long term.
1) Remodeling the Kitchen (within reason)
They say the kitchen is the heart of the home, so it comes as no surprise that this room is one of the most important to potential home buyers, and homeowners love updating theirs into a stylish showpiece. The main thing to note here is to budget appropriately and make sure you are not over-improving your kitchen. No matter how nice the upgrades, you will not be able to recover the cost if it makes your home the most expensive in the neighborhood.
Here are 3 high-impact kitchen renovations to consider:
Paint or refresh cabinets. The cost of replacing cabinets will add up; consider painting or refinishing them to give your place a new and refreshed look.
Pro tip: Make sure your cabinets are properly cleaned and sanded before painting to ensure a durable finish!
Add new counters & back splash. A new counter & back splash can be the piece that brings a kitchen color palette together.
Replace flooring. There are endless economical flooring options that mimic high end finishes for a modern, low cost look. Check out the many options with vinyl or laminate flooring.
2) Renovate/add a bathroom
A report from HGTV estimated that a homeowner can recoup as much as 130% of the cost when adding a bathroom. Other studies have shown that even a minor bathroom remodel can provide a 102% ROI. “When a buyer is comparing homes at the same price point, even the slightest bit of effort in the bathroom can make a huge difference,” according to our team’s Listing Manager, Priscilia To.
Replace fixtures. Something as simple as updating your light fixture can make a bathroom feel modern.
Recaulk showers/tubs. With age, caulking along the shower experiences wear and discoloration. Freshen up this space to make showers and tubs more inviting.
Update vanity fixtures. Repaint cabinets, change the hardware or update countertops.
Retile the floor. Flooring in the bathrooms takes a beating over time due to moisture and water. New, brighter tiles can make a small space feel bigger. Or if you are on a tight budget, consider re-grouting the tiles.
3) ADD A DECK
Adding a deck to your home will increase living space and is an efficient way to invest in your property, especially in South San Francisco where decks can be used year-round. Research shows you can recoup almost 82% of the cost of a wood deck and 75% of the cost of a composite deck. The quality and variety of decking material varies so greatly that it can fit any renovation budget. If you would like to add a deck to your current house but are not sure if you have the right space or budget, call us today. We can help you consider all options so you can be standing on your very own deck as early as this summer, basking in the California sun!
4) UP CURB APPEAL THROUGH LANDSCAPING
A good first impression on a prospective buyer can charm him or her into looking past other (potentially larger) flaws. Adding new plants or pruning up existing ones can go a long way to creating that positive first impression. A solid strategy is to research the architectural style of your home and create a landscaping plan that matches.
Though these are general recommendations, there is no magic calculator or one-size fits all ROI for home improvements. At the end of the day, understanding your local market and local value is key. That is where speaking to a local real estate expert will pay dividends. Our team is here to help you keep a pulse on the market and make every penny count when the time is right to make improvements to your home.
Contact our team for a free consultation on home improvements that will increase your home value today.