For many homeowners, getting the highest return on their initial investment is a top priority when it comes to selling their house. Due to the unstable market conditions, some homeowners decide to wait it out, while others are in a hurry to sell and take the necessary steps to ensure that they do so at the highest price. Here are 5 of the best renovation projects you can undertake to yield the highest return.
1. Remodel the Kitchen
The kitchen is an integral component of any home and it is the top way to obtain the highest return on your investment. An appealing and well-designed kitchen adds value to your house; nobody would like to buy a house with an outdated kitchen. Therefore, you should renovate your kitchen using these latest trends.
It is not enough in South Florida luxury real estate to have built in appliances. For the wow factor, spring for custom mill work. For example, instead of a stainless steel refrigerator, the doors can match the wood of the cabinets. Make sure to buy the top brands such as Miele and Gaggenau.
2. Create an Amazing Master Suite
The master bedroom is a main focal point of buyers. Not enough natural light, small closets or outdated bathrooms can knock off a substantial amount off a seller’s asking price. It is important the room size is adequate for a king size bed, nightstands, dresser, and small seating area. Built-in closets are a must with wood cabinetry to organize clothing.
Ideally there are two closets for both partners. The master bathroom is another important component. Dual vanities, top-of-the-line fixtures, and cabinetry are also important. It’s best to have a separate tub and shower and position the toilet in its own water closet.
3. Opt for Wooden Floors
There is nothing classier than a wooden floor; there is something about them that attracts people. And it can attract a good investment for you too, if you decide to undertake this renovation project.
You can select oak wood, hardwood or synthetic wood made of formaldehyde. Before selling, make sure to refinish those floors as nobody would like to see a dull wooden floor. Another popular trend is ceramic floors that look like wood. 1 Hotel Residences have this flooring from companies like Porcelanosa. It requires less maintenance and it’s easy to clean.
4. Add a Deck or a Patio
The best and the most financially reasonable ways to improve the quality, look, and value of your house is to add a deck or a patio to it. It will also increase the living area at a low cost per square foot. Choose a wooden deck/patio and it will cost you around $10,000 and the return you can expect will be about from 75 to 80 percent.
5. Install Impact Windows
We have saved the best for the last; if you want to receive a high return on your investment, upgrade old windows to impact glass. Nowadays, homes are being evaluated based on their energy efficiency and that can make or break the value of a house. In addition, new windows can prepare you for hurricane season, increase the security of your home, and improve the aesthetics.