Living in New England has a ton of benefits, from the gorgeous fall foliage to the beach-front communities lined with adorable cottages. You have access to fresh seafood straight from the Cape, heart-racing football games at Gillette Stadium, and spirited nightlife in Boston. However, there are some things a location simply can’t offer a home.
As homeowners, we strive to elevate the comfort and allure of our homes while also ensuring a fruitful return on investment in the long run. Thus, it is imperative to concentrate on home improvements that offer the highest return on investment (ROI). Whether you aim to sell your home or merely increase its value, several home improvements promise significant ROI.
Explore some of the most rewarding ROI home improvements, such as luxurious kitchen remodels, immaculate landscaping, modernized hardwood floors, and freshly painted walls. By strategically enhancing your home, you can elevate its value and charm while ensuring a prosperous investment in the long term.
Best return on investment home improvements
Kitchen remodel
Opting for a kitchen remodel is a wise decision when considering selling your home in the near future. Although it can be one of the most costly renovations, it can also offer one of the highest returns. According to Remodeling Magazine's 2020 Cost vs. Value report, a major kitchen remodel has an average ROI of 58.6%, while a minor kitchen remodel can yield an average ROI of 77.6%.
It is worth noting that not every kitchen requires a complete remodel. It is likely that your kitchen simply requires a few upgrades. When revamping your kitchen, it's crucial to prioritize upgrades that will appeal to a wide range of buyers, such as updating the countertops, cabinets, and appliances.
For a complete remodel, you can consider adding an island or creating an open floor plan to enhance functionality and allure. Many buyers today are looking for homes that feel spacious and open. They want to be able to host celebrations and have unrestricted access to the lower levels of the home. By strategically implementing updates and renovations like these, you can elevate the value of your home and attract buyers that may have written off your home before renovations.
It is worth noting that not every kitchen requires a complete remodel. It is likely that your kitchen simply requires a few upgrades. When revamping your kitchen, it's crucial to prioritize upgrades that will appeal to a wide range of buyers, such as updating the countertops, cabinets, and appliances.
For a complete remodel, you can consider adding an island or creating an open floor plan to enhance functionality and allure. Many buyers today are looking for homes that feel spacious and open. They want to be able to host celebrations and have unrestricted access to the lower levels of the home. By strategically implementing updates and renovations like these, you can elevate the value of your home and attract buyers that may have written off your home before renovations.
Landscaping and yard maintenance
Another home improvement that provides a high ROI is landscaping and regular yard maintenance. Curb appeal is vital when it comes to selling your home, and a well-maintained yard can make a significant difference in how your home is perceived. In fact, poor landscaping has a negative effect on the value of your home and can lower it by 10%.
To improve your home's landscaping, focus on creating a well-manicured lawn, adding colorful flowers and plants, and creating defined outdoor living spaces. A lush garden filled with vibrant New England flowers like violas and dahlias is a welcoming scene, so consider decorating your lawn with plants in colors that accent the home well. You can also add outdoor lighting to highlight your landscaping at night, which is helpful for evening showings.
Though it is nice to have a variety of flowers and plants framing your home, don’t get too crazy! Choose a few species of flowers and plants and use their aesthetic to create a general design for your garden and lawn. Be sure to include plants that can withstand a New England winter so your home has curb appeal all year round.
To improve your home's landscaping, focus on creating a well-manicured lawn, adding colorful flowers and plants, and creating defined outdoor living spaces. A lush garden filled with vibrant New England flowers like violas and dahlias is a welcoming scene, so consider decorating your lawn with plants in colors that accent the home well. You can also add outdoor lighting to highlight your landscaping at night, which is helpful for evening showings.
Though it is nice to have a variety of flowers and plants framing your home, don’t get too crazy! Choose a few species of flowers and plants and use their aesthetic to create a general design for your garden and lawn. Be sure to include plants that can withstand a New England winter so your home has curb appeal all year round.
Updated hardwood floors
Updating your home's hardwood floors is another home improvement that can provide a high ROI. Hardwood floors are a popular feature among homebuyers, and they are easier to maintain than carpeted floors. Hardwood instantly adds an elegant, classy feel to your home, which can be accompanied by rugs to add some ambiance and cushioning.
There are two main types of hardwood flooring: solid and engineered. Solid hardwood flooring comes from individual pieces of wood, while engineered floors only have a layer of hardwood atop a base made of different materials. Solid hardwood is the best investment you can make for your floor, as it can last for a while and be refinished again and again.
When updating your hardwood floors, focus on refinishing or replacing any damaged or worn areas. You can also consider adding hardwood floors to other areas of your home, such as the living room or bedrooms, to create a cohesive look. Do not install hardwood floors in any basement, as the increased humidity levels can alter the state of the wood.
There are two main types of hardwood flooring: solid and engineered. Solid hardwood flooring comes from individual pieces of wood, while engineered floors only have a layer of hardwood atop a base made of different materials. Solid hardwood is the best investment you can make for your floor, as it can last for a while and be refinished again and again.
When updating your hardwood floors, focus on refinishing or replacing any damaged or worn areas. You can also consider adding hardwood floors to other areas of your home, such as the living room or bedrooms, to create a cohesive look. Do not install hardwood floors in any basement, as the increased humidity levels can alter the state of the wood.
A fresh coat of paint
Finally, one of the easiest and most cost-effective home improvements you can make is a fresh coat of paint. Painting your home's interior and exterior can make a significant difference in how it looks and feels, and it can also provide a high ROI. Painting the exterior of your home is known to increase the final sale price by $7,571 and yield a 152% ROI. Painting the interior boosts your home value by about 5% and yields a 107% ROI. With the numbers in mind, refreshing your paint is one of the most worthy investments you could make.
When possible, keep the current exterior color of your home, as it is more costly to paint the entire house a totally different color. When choosing colors for the interior of your home, focus on neutral shades that appeal to a wide range of buyers. Any bright or polarizing colors should be replaced, as it can be off-putting for some buyers to see a room that doesn’t match their aesthetic. You can also consider adding an accent wall or using different shades of the same color to create depth and interest while you are living there, which can be easily painted over if a new buyer doesn’t like it.
When possible, keep the current exterior color of your home, as it is more costly to paint the entire house a totally different color. When choosing colors for the interior of your home, focus on neutral shades that appeal to a wide range of buyers. Any bright or polarizing colors should be replaced, as it can be off-putting for some buyers to see a room that doesn’t match their aesthetic. You can also consider adding an accent wall or using different shades of the same color to create depth and interest while you are living there, which can be easily painted over if a new buyer doesn’t like it.
Investing in your home is an investment in the future
Making substantial alterations to your home is a pricey endeavor, but in the real estate market, there are some risks worth taking. Making the above improvements will add thousands to the value of your home, and you have the benefit of enjoying them during your time at the house too.
Pamela Bates is a real estate agent that understands homeownership has its twists and turns. With her help, you’ll be able to navigate the buying and selling process like a professional every time. Pamela has access to an array of South Shore homes for sale in Hingham and Cohasset. She is dedicated to finding your new home or simply selling the one you’ve loved and grown out of. Call Pamela today for answers to all of your most important real estate questions!
Ready to explore more insightful real estate tips? Follow Pamela Bates on Instagram (@pamelabatesrealtor) for exclusive behind-the-scenes looks and expert advice!
Pamela Bates is a real estate agent that understands homeownership has its twists and turns. With her help, you’ll be able to navigate the buying and selling process like a professional every time. Pamela has access to an array of South Shore homes for sale in Hingham and Cohasset. She is dedicated to finding your new home or simply selling the one you’ve loved and grown out of. Call Pamela today for answers to all of your most important real estate questions!
Ready to explore more insightful real estate tips? Follow Pamela Bates on Instagram (@pamelabatesrealtor) for exclusive behind-the-scenes looks and expert advice!
