When it comes to selling your home, maximizing value is the goal. Selling a home can be a time-consuming process, involving working with your real estate agent, preparing for open houses, and reviewing offers. Don’t forget to dedicate extra time to strategic renovations and add thousands of dollars in return upon sale.
With a full schedule and budget constraints, you might wonder which renovations are truly worth the effort. As a real estate agent with over two decades of experience, I’ve overseen countless sales. In this guide, I’ll share the renovations that increase your property’s value and offer the best return on your investment.
Upgrade to Stone Veneer
Enhance the visual appeal of the front of your home by switching from siding to stone veneer.
Costs include waterproofing, corrosion-resistant lath, raw materials, and labor. New stone veneer will return 102.3% of your investment on average.
Stone veneer siding is attractive, durable, low maintenance, and has excellent insulating properties. Stone withstands weather damage, resists rot, deters insects, and requires minimal maintenance — mainly occasional power washing.
Stone veneer is made from natural stone or high-quality concrete molded to mimic real stone. Various stone types and colors are available to complement your home’s existing style.
Stacked stone or ledge stone veneers are popular choices that give an elegant, rustic vibe. Stone veneer is striking and gives your home more of a custom look compared to traditional siding.
Replace the Siding
New siding modernizes a home’s exterior. Project costs include insulation and labor. When it comes time to replace your home’s worn siding, choose materials to boost curb appeal and efficiency, such as:
Classic material that increases home value
Attractive natural wood look but needs restaining over time
Mimics wood without painting and withstands the weather. Returns on average 88.5%.
Gives a custom, high-end look
Budget-friendly, low-maintenance, available in many colors. Returns on average 94.7%.
Make sure your contractor properly insulates and wraps the home to get the most return on your investment.
Install a Wooden Deck
Constructing a deck or patio enhances your enjoyment of your backyard space while adding value.
Homebuyers looking to entertain and relax want outdoor living areas, and decks are the ideal solution. Situate the deck to showcase your yard while maintaining privacy from neighbors. Connect it to the home for convenience. Building a new 16’x20′ deck averages $17,051 and can add around $8,553 in value.
When installing a new deck:
- Check homeowners association rules and local permitting on materials and designs.
- Hire an experienced contractor. Proper footings and framing are crucial for structural integrity.
- Include built-in benches, planters, and lighting to improve functionality.
- Opt for low-maintenance wood such as cedar or treated pine. Stain and seal regularly.
- Use slip-resistant decking, sturdy balusters, and handrails for safety.
Upgrade the Kitchen
Upgrading your kitchen increases the value of your home and significantly boosts your home’s appeal to potential buyers. A fresh, modern style elevates your enjoyment of the kitchen, is attractive to homebuyers, and provides a great return on investment.
Kitchen renovation often involves painting, replacing appliances with newer energy-efficient models, and installing new floors, counters, cabinets, and sinks. Given the costs of appliances and labor, the nationwide average for a kitchen cosmetic refresh is $50,000 to $70,000.
Focus on updates that modernize without overdoing luxury custom features. Cost-effective upgrades include:
- New countertops like quartz or granite
- New stone or glass backsplashes
- On-trend vinyl plank flooring
- Shaker-style or flat-panel cabinets
- Under cabinet lighting
- Updating appliances to ENERGY STAR models
Select a cohesive look with timeless materials and colors. For appliances, choose finishes like stainless steel.
Driveway Replacement
Repaving a deteriorating driveway updates your exterior and boosts curb appeal. Asphalt driveways are the most economical and last 25 years on average. Resurfaced asphalt costs $2.25 per square foot. Concrete driveways are also durable and long-lasting. Select pavers if you want various styles and colors — but they need sealing and maintenance. Check homeowners association rules when choosing a style and material.
Be sure to budget for all costs related to a new driveway. Consider prep work like removing old concrete and proper driveway grading.Â
Bathroom Remodels
Remodeled bathrooms offer a high return on investment. Focus on surface updates like new floors, tile, vanities, fixtures, lighting, and hardware. Luxury custom features don’t necessarily increase value.
Smart bathroom updates include:
- Fresh paint and lighting
- Modern-look vanities
- New flooring — tile or waterproof vinyl plank
- Quieter, efficient exhaust fans
- Stylish faucets and shower heads
- Updated shower tile
- Upgraded shower insert or surround
Choose simple, tasteful finishes in classic colors rather than bold hues. Remove clutter to calm the space.
So, Is Home Renovation Worth the Investment When Selling?
Many home renovations prove worth the investment when it comes time to sell. Kitchens and bathrooms are key rooms to remodel to boost resale value. Exterior upgrades like siding, stonework, and decks add curb appeal and return on investment.
Homebuyers want move-in ready spaces with practical amenities. Focus on projects that improve livability and boost curb appeal by using appealing, neutral finishes.
Consult trusted real estate agents and contractors to target the most valuable renovations before listing.
FAQs About Home Renovations
Should I renovate my kitchen or bathroom before selling?
Kitchen and bath remodels are smart pre-sale investments. Even modest updates like new cabinets and fixtures give these rooms a fresh, current look.
Which renovations add little value?
Pools, elaborate outdoor kitchens, and niche luxury features don’t boost value enough to justify the cost. Overly personalized renovations can also limit buyer appeal.
Should I renovate my entire house before selling it?
Fully renovating is unnecessary. Prioritize kitchens, baths, and exterior facades. Make other spaces clean and neutral without expensive customization.
How do I choose the best renovations to maximize sales price?
Talk to local real estate agents about in-demand updates in your market. Visit open houses to see current trends. Focus on renovations aligned with neighborhood values.
