Renovating a home is a game. It’s about finding what you can do that has the biggest impact on the overall value of your home without breaking the bank. When we look at renovation options we hit a lot of big figures and long contractor jobs. Those are the high-yield projects that we know for a fact get the numbers upon the value. But there’s also a whole-nother group of things you can do that are just as good. You can pace them, you can plan them, or you can get it all done at once. It’s up to you. If you’re looking to increase the value of your home without having to take out a second mortgage— or even a loan for that matter, here are some of the highest yield ideas that can set your home value skyrocketing.
Landscaping is one of the best ways you can spruce up your home without going overboard on the budget. It’s an incredibly modular project. Do you feel like doing a little bit at a time? Good! That’s a completely feasible way of landscaping. You can also make it a personal project to get your mind off of the stresses of the day. Landscaping can yield a return on investment of close to 80%. This depends, of course, on the kind of work that you do.
Whatever it is you get done on the yard, there are a few elements that people look for. One is a good shed. Never underestimate the power of the shed. According to What Shed, the fixtures and furniture account for more than half of the aesthetics of a yard. We’re not talking about some rickety old cobweb-filled box. We’re talking about a well designed, organized, and sizable walk-in closet for your tools. That’s the kind of vibe people are looking for today. The other is a fire pit. If you’re lucky enough to live in a place where you can get permits for it, or it’s just straight-up legal, putting in a fire pit alone can add value to your home. The overall look of a well-landscaped lawn is invaluable. You should start immediately.
The next best thing you can do for your home is to remodel your kitchen. Kitchens are where the fun happens. It’s where the magic starts. It’s the focal point of any good party and family gathering. Having a beautiful kitchen that’s built to entertain is the best way to add fat stacks of cash to the value of your home. Like landscaping, you can spend an insane amount of money on a kitchen. But if you stick to the function and the aesthetics, you can start making it work immediately. Start with the countertops. If you have a center island in the kitchen, think about adding fixtures above it to look like a professional kitchen. If you’ve got a much smaller kitchen, upgraded appliances and sinks are the quickest way to add charm and functionality. Anything you do to a kitchen adds value to your home. Take advantage of that.
When it comes to a house renovation, nothing beats a good paint job. There’s something about a good paint job that people gravitate towards. There could be strange stairs leading nowhere, but if you’ve got good paint going, buyers might just overlook it. Look to paint the places people set for themselves. Repaint the door. Repaint the study. Repaint the home office. Repaint bedrooms. Those are so often just a plain old white. Adding a little bit of color in it—not too much, turns your clinical looking office into something much more interesting.
Changing out the roof is probably going to the most costly renovation upfront. It’s not like a yard or a kitchen. You can’t get half of your roof done and call it a year. No, you have to get the whole roof in a consistent, even manner. Because of this, it’s going to set you back. But, once you get this simple thing done—and it is simple, you can expect a near 100% on your return on investment. That’s a figure that’s been replicated and proven over and over again. It’s all from the roof.
Simple upgrades are the best. It’s not like you’re going to gut the walls and build a new wing. A simple upgrade just means you’re making the pre-existing structures better. It’s about making it look at its best. A new kitchen, some roofing, a nice lawn, and an unexpectedly nice shed—these things are all sure-fire ways to increase the value of your home.