Owning a home, in all probability, is the most significant investment you have made in your life. Intelligent homeowners know that to get the most out of their Northern Virginia home, they have to increase their property's value through home improvements that will result in the highest return on investment (ROI).
northern Virginia home improvements with significant roi
This article explores the five home improvement projects with the highest ROI for Northern Virginia homeowners.
1. Minor Bath Remodel
Generally, two rooms sell a home - the kitchen and the bathrooms. Coincidently, one of the most considerable home improvement ROIs is a bathroom remodel. Major bathroom remodels can be expensive. Fortunately, there is no need to gut and demolish your bathroom for an incredible return on your investment.
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According to HomeAdvisor.com, the average remodel is $6,500 but can cost more than $15,000 depending on the square footage and quality of fixtures. Homeguide.com estimates an overall property value increase of about $13,700, an ROI of approximately 110%.
2. Landscape
Your home's curb appeal can assist you in selling your home quicker while adding tremendous value to your property. A carefully planned landscape makeover can quickly become one of your home's greatest assets.
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Depending on the project, some experts believe a well-landscaped yard can result in an ROI of up to 400%. Bob Villa reports $3,415 as the national average cost for landscaping. The information on increasing landscape ROI varies (because the amount you invest in landscape differs significantly). However, according to HomeLight, homeowners can see anywhere from 100% to 352% ROI.
3. Garage Door Replacement
Replacing your garage door not only spruces up the exterior of your home but is a solid return on investment. Defective garage doors hurt your home's energy efficiency, cause flooding, and give burglars easy access. According to HomeAdvisor, the cost of a garage door ranges between $754 to $1586. Remodeling Magazine lists garage doors as the number one ROI with 93.8% cost recouped.
Source: aladdindoors.com
4. Replace Windows
Replacing windows consistently proves a top home improvement project with a high ROI. A brand-new set of windows enhances a home's interior and exterior. New windows are also more energy-efficient, saving homeowners a pretty penny on their electric bills.
Source: tncwindows.com
According to Angi, new windows will cost homeowners between $200 to $1,300 per window - a 68% return on investment. Angi advises less expensive materials such as wood or vinyl window frames.
5. Minor Kitchen Remodel
Home Guide reports the price of a kitchen remodel between $100 to $225 per square foot, which equates between $12,800 to $21,300, including materials and labor.
You don't have to undertake a major kitchen overhaul to get over an 80% return on investment. Because the kitchen is the heart of every home, prospective buyers want to imagine making memories there. It can be challenging to picture precious family moments in an outdated or nonfunctional kitchen.
Source: homeserve.com
A minor kitchen remodel produces a significant difference in your home's price tag and can easily become a DIY project (which will have you well below the national average price tag). Install a new backsplash, resurface kitchen cabinets, change the hardware, replace dated appliances, and slap on a fresh coat of paint.
Northern Virginia Home Improvements with Significant ROI
To ensure you are making upgrades to your home with the highest ROI, talk to a Northern Virginia real estate agent who will know what buyers are searching for and which projects will increase the value of your home.