There are plenty of home improvement projects that don’t add value to the property when you decide to sell. Conversely, there are plenty of projects that add value but, but have a high cost up-front. At Legacy Properties West, we wanted to help you out in determining which home improvement projects actually yield the best ROI (return on investment,) and which ones are all bang for no buck? Whether you want to make big changes or small upgrades, this list will help you decide which projects will increase value on any budget. 

Complete Kitchen Remodel

Average cost: $35,000 to $55,000 vs. Average ROI: 60%-120%

Since most people consider a kitchen the heart of the home, making improvements in this room usually pays off. Don’t go overboard, though. You should upgrade the kitchen to the point that it is out of sync with the rest of the house. To keep costs down, use the existing kitchen footprint. Focus on refreshing paint, replacing countertops, cabinets and outdated appliances. If updating the whole kitchen is more than you can afford, there are several smaller projects that will still go a long way. 

• Refinish Kitchen Cabinets

Average cost: $1500 – $3000 

A simple update that can result in a nice value increase is refinishing cabinet doors. This project is an inexpensive way to give your kitchen a major makeover. With some sanding and a fresh coat of paint, you can transform the entire look of any kitchen. 

• Add a Kitchen Backsplash

Average cost: $500 – $1000
This home improvement project can add personality to your kitchen’s look while emphasizing countertops, cabinets and appliances. The project cost for adding a  backsplash will vary depending on the size of the area as well as the materials you choose.  

Complete Bathroom Remodel

Average Cost: $9,600 to $11,000  vs. Average ROI: 60% – 75%

Bathroom remodels tend to yield the biggest returns with moderate remodels. This includes items such as painting, refinishing cabinets, swapping out the mirror, replacing the tub/shower and upgrading hardware. Even if you only have the time and budget to make small improvements, focusing on bathrooms is usually a smart move.

• Replace the Faucets and Fixtures

Average cost: $70 -$250 per faucet or fixture
Upgrading faucets and fixtures is one of the easiest ways to add value to a bathroom.  Most plumbing projects are best not suited for DIY, but faucets and showerheads can be installed or replaced fairly easily. 

• Upgrade the Vanity

Average cost: $300 – $1,500
The cost of a complete bathroom remodel can add up quickly.  But simple upgrades can really make a difference. If you’ve got a bit more to spend, consider upgrading the entire vanity. That means not only the faucets by the cabinetry and sink as well. You can buy vanity kits that have all of the elements you need for one price, or you can put together the perfect vanity yourself. 

Reinventing a Room

Average cost: $15,000 to $30,000 vs. Average ROI: 50% – 85%

Adding more square footage to your home is always going to be a win in the ROI race, but it can be an expensive project. Whether you decide to convert a deck into a sunroom or finish a basement, be sure to budget for surprises. If you can’t add extra space, there are a few ways to reinvent current rooms.   

• Spruce Up the Paint Job

Average cost: $75 – $1000 per room
A fresh coat of paint can do wonders for making a room feel bright and new. For the best ROI, focus on using lighter neutral colors. Remember that the price of fresh paint will vary depending on the size of the room and whether you decide to do it yourself.  

• Add Crown Molding

Average cost: $120 – $260 per room
A simple project to add major style points to any room is crown molding. This is a rather easy but effective project that can be completed in a single weekend. To achieve maximum ROI, install crown molding where it will be the most impactful, such as the living room or master bedroom.

Complete Exterior Remodel

Average cost: $10,000 to $18,000 vs. Average ROI: 65% – 78%

Curb appeal is always top of the list when it’s time to sell your home. If the outside of your house is looking a little worse for wear, consider adding or replacing the siding to make the exterior look brand new. Can’t swing all new siding? Don’t worry we have other options to increase value with a lower budget. 

• Front Door Replacement

Average cost: $500 – $750
A front door not only adds to a home’s overall curb appeal, but it also makes a big first impression. Simple improvements to the front door like a new coat of paint will add value, but for the best ROI invest in a steel front door. Not only are steel doors affordable, but they are also considered a crucial security measure. 

• Replace The Garage Door

Average cost: $600 -$1,500 per faucet or fixture
Replacing a garage door not only improves curb appeal, but generates some of the best (ROI) numbers. Upgrading your garage door can give the home an entirely new look. Plus, it provides additional benefits, like added home security and draft control. After all, the garage door is the largest opening in your home.

The Bottom Line

Most people are prepared to make some form of home improvement and repairs prior to listing their home. If you have money set aside for pre-sale renovations, consider working with one of the real estate agents at Legacy Properties West to determine which projects will be the best ROI for your home.