The holidays have come and gone, and many people in the new year look at their homes and think it’s time to revamp their space for themselves, or maybe you think it’s time to sell.   If you are revamping your space, it’s actually for you to enjoy, but if you are thinking about selling and want to do renovations that offer the best return on the value then this topic is for you. 

Buyers Care about Charm, but they care about Bedrooms and Bathrooms.

Kitchens and Bathrooms can make a home sell quickly or keep it on the market. Remember when my parents were selling my childhood home in Weston, Connecticut.  At that time, I had just gotten into Real Estate. Furthermore, it’s important to inform you that my mother was a real estate agent in Fairfield County, specifically in Weston, CT. My mother said this house Page will sell very quickly, you see. I asked my mom why are you renovating the kitchen and downstairs bathroom? Why haven’t you renovated the Primary bedroom and secondary room? My mom said Page, it won’t matter. As people walk through this home that was once a barn converted into a Colonial House, they will inevitably fall in love.
My mother was right. The buyers initially came through and loved the home; however, their enthusiasm waned when they saw the upstairs, where the love affair abruptly ended. 

Updated Bathrooms Matters    

Buyers came through the home, and the feedback was the same. Buyers loved the house, but it fell apart once they saw the bathrooms. The bedrooms are a very generous size, but your bathrooms haven’t seen a renovation since the 1950s. Can you renovate those by chance? 

The bathrooms could have been renovated, but they didn’t want to. Many sellers are inclined to leave rooms in a house that need work. As a result, they chose the same route as my parents, which was to reduce the home’s price. My parents’ home eventually sold. My parents acknowledge the home would have sold faster if the bathrooms had been updated like the kitchen was. Buyers care about kitchens and bathrooms. For a renovated bathroom, a seller stands to recoup 60% of the money they invested when renovating the bathrooms. 

Here are Kitchen Renovations that offer the best return on value, four bathroom renovations that provide the highest return on value, and the items that offer the lowest return on value.      

Return on Value- Kitchen Renovations 

1) Cabinets can make a space look fresh or bring space down. New Cabinets offer a great return on value and updating the hardware. Sellers get a 70% Return on value if they redo or refinish the cabinets and put new hardware on them.      

     

 

 

2) Increasing your countertop space. The more real estate a cook has in the kitchen to prep on the better return you will get. Countertops that you can add seating with will only increase your value. Even a rolling butcher block that goes with the kitchen will add value.      

     

 

 

 

3) Skylight. Let there be light. The more light is in any room, the higher appeal it will have. Everyone likes natural light.  If you’re buying a house, skylights always add value. They can make rooms look larger and more open. Putting in a skylight could cost anywhere from $2,500-$3,000, but the return on that installed skylight could bring in $5,000-$6,000 on the resale side.     

   

 

 

3) Flooring can make or break a home. If your flooring is super worn out from the dog or doesn’t have a connective look. Make the floors look uniform, especially if the rooms are closed. If you have a discolored or broken tile, it’s time to replace it.

 New Hardwood floors can add an 80% return on value.  I know we are talking kitchen renovation, but any room you can offer hardwood or tile over carpet is always a win. Many people today have allergies or might be thinking about carpet’s secrets. If you have to go with tile or carpet, use it where you have to.      

     

4) Bathroom Flooring, like Kitchen flooring, can add alot of value or devalue your home. If your tile looks dirty and old, you might want to upgrade its flooring with porcelain or ceramic tile.  Porcelain and ceramic tiles are inexpensive and durable. If your home is in a cold climate, adding heated tile floors could be a nice touch to increase value. Bathroom renovations can offer a 60% return, and you do not need to go high-end to get a return on value      

 Bathroom Renovations that Offer Highest Return on Value

5) The vanity area can greatly impact your home value. Consider upgrading your countertops, faucet, and sink for maximum impact.  double sinks, granite countertops, updated fixtures, and modernized hardware.      

     6) Cabinets in a bathroom can make or break a space.  Cabinets should offer a clean look. If the cabinets are in good shape, you might be able to replace the cabinets and put in new hardware. Your bathroom should have a fresh look.      

     

 

7) The focal point of any bathroom is the shower and/or tub, so it should come as no surprise that remodeling them offers the highest ROI. If you’re upgrading your master bathroom, replacing your tub with a large walk-in shower can raise your home’s value.

 

 

 

If you want to resell your house, you should have a tub in one room when you renovate your bathroom. You never know if that buyer might have children or even a dog, where a tub becomes a key feature. Do not eliminate the tub. Stay away from tubs with jets. Tubs with jets might sound luxurious, but they are challenging to maintain. Glass showers have a high return on investment. The bathroom should have a clean look.

 

     

     

Low Return on Value      

    

1) Countertops can add value; however, keep it neutral. 

     

2) Nonessential luxury items. Built-in Espresso makers, Soda Stream hookups built in the kitchen, and warmer drawers might not be a big sell to everyone.      

     

When you are doing a kitchen renovation, you want to make changes that improve function and make the kitchen look more spacious than it is. The maximum amount of storage in a kitchen is key. The kitchen is the center of a home for many. Interior designers can help you pick design choices that stand to stay in style longer than others.      

     

3) Steam showers are nice, but they offer very little return on value.    

     

 

 

 

Renovations that add value and are cheap to do and often overlooked      

     

1) Paint is a cheap change, and frequently, homeowners can do it themselves. It can be a simple white or off-white with a nice color trim.      

     

 

 

 

 

 

 

2) Updating lighting can remake a space. Lighting is the right size for the room, and you will be amazed at how it upgrades your space.       

 

 

 

 

     

3) Shelving will always add value. Floating shelving is going out of style so make sure if you are using floating, use it sparingly. Everyone loves storage, especially when you can hide the contents of what you are storing.      

     

 

 

 

4) How old are the mirrors in your bathroom? Were they white and now a shade of yellow? If yes, you might want to swap out a mirror for something a little bit more updated.

 

 

 

 

 

 

Conclusion     

Kitchens and bathrooms are two areas of a home a buyer will always notice when you decide to sell. Even if you’re not selling, someone is bound to notice the work you did at your next dinner party. Perhaps you will inspire a guest to change their space or put their house up for sale to find that next perfect place. If you are looking for contractors or have questions about the real estate market, please reach out.