If you are planning to make upgrades to your home and it is likely you will still sell the home in the not-so-distant future, it might be a good idea to do so with your future buyers in mind. This could mean that you make a few choices that may not be your first but will be well received by today’s buyers and ultimately help to increase the overall value of your home. But what do the buyers today want in their next home?
We did the research to find out. Here are our top five best home renovations that you could do to your home and that todays buyers are also looking for.
1. A Garage Door
A new garage door has a great ROI for a relatively easy upgrade. Regardless of how nice the rest of the home looks, if the garage door is old or in poor condition, it will make the rest of the house look run down too. The average cost of a garage door is about $1,200. It has been shown that a new garage door will add an extra $2,797 to a home’s value which comes to a staggering 133% ROI.
2. The Master bath
Life is stressful, and we need a place to unwind. Today’s homebuyers are drawn to tranquil, luxurious master bathrooms where they can relax. Buyers want a large soaking tub and an upgraded walk-in shower. If you’re doing a remodel, you might as well add some features like speakers to play peaceful music, a steam shower, and dimmable lights.
3. A Fireplace
Adding a fireplace to your home is a great way to get interest from homebuyers. A fireplace in the living room makes the space feel cozy and comfortable, which is precisely how a living room should feel. Installing a gas or electric fireplace doesn’t have to cost an arm and a leg either. The best part is, you can expect a 91% ROI when you sell your home – not too shabby!
4. A Home Office
Between 2009 and 2019, the number of people who worked from home increased by 159%. Then the pandemic made even more employees switch to an at homework model. With this change, many homeowners are looking for a designated office space in the homes they want to buy.
Converting a bedroom, den, or garage space into a home office is a great way to attract home buyers and increase the value of your home. In fact, a home office is at the top of almost 70% of today’s homebuyer’s wish list.
5. The Kitchen
As mentioned before, homebuyers want a move-in ready home, and one of the most important rooms in the house is the kitchen. If you have an outdated kitchen, upgrading would be a good idea. You’ll want all new matching appliances. Depending on the condition of your cabinets, you may be able to get away with painting them to compliment the countertops you chose. Ensuring adequate storage should be one of your main focuses since organization and storage space is essential to home buyers. Lastly, make sure not to overdo your remodel.
Kitchen remodels can get incredibly expensive based on the types of appliances and the quality of materials you choose. Make sure you aren’t over-improving for the area you live in.