How to add value to your home: Upgrades with the best ROI (Return on Investment)
Whether you’re a homeowner or a real estate investor, it’s always important to know how to add value to your home. Many upgrades and renovations have a higher rate of return than others, and it’s helpful to know them to make the best possible investment in your property.
Here are some of the home upgrades with the highest returns on investment to consider:
Add a deck or patio
Outdoor living is a big priority for many potential homebuyers. Adding a patio or building a deck in your backyard is one way to add to your home value. Consider your choice of materials carefully, though. Some building materials can cost more up front, but will be cheaper and easier to maintain long-term.
Spruce up the bathroom
Most home improvement experts recommend focusing on bathroom renovations to add home value. Luckily, it doesn’t take a complete remodel to reap the rewards. Simple changes like replacing fixtures, adding storage space and repainting can result in a considerable payoff.
Increase energy efficiency
Energy efficiency is a top priority among potential buyers, both to help the environment and save on utility bills. Simple upgrades like installing a smart thermostat and energy-efficient appliances are high ROI projects. You can also consider more extensive upgrades like replacing windows, insulation and HVAC system.
Revisit landscaping
Landscaping is an often overlooked area of home improvement that can bring in massive returns. Trim shrubs, prune trees and plant new, low-maintenance greenery to refresh your outdoor spaces and enhance curb appeal. Other upgrades include installing simple water features, garden pathways and lighting.
These are just a few of the best ways to invest in your property and add value to your home. Consider these projects and others like them if you’re interested in boosting your ROI.
About the Author
Miriam McKinney
A true native to the Western North Carolina area with family roots dating back to 1810, I am a true ambassador for Western North Carolina with undergraduate degrees in education and music from Mars Hill University and an MBA from Western Carolina University. As a former teacher in the area my goal is to educate, whether a buyer or seller, by providing the most current, relevant information available and by giving expert guidance throughout. My professional goal is to exceed my client's expectations through a commitment to excellence with their success as the number one goal! Being a trusted advisor and creating lifelong relationships is an honor. The result is that I have been a top producing Realtor providing clients with successful outcomes for 20 years. I am licensed in both North and South Carolina.
Real Estate is my love and passion, and when I am not helping my clients achieve their real estate goals, I am working on my real estate investment portfolio. I am a seasoned investor who not only helps my clients buy and sell real estate, but I own investment real estate as well. My experience with different investments is extensive - from commercial investments, short-term rentals, single family homes and at times I am even the one with the power tools and getting my hands dirty, which is incredibly satisfying and rewarding!
“Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.” Franklin D. Roosevelt
Giving back to the community and others is what this life is all about. I volunteer with Big Brother/Big Sisters, Conserving Carolina, travel abroad to help build houses for people without homes, give back to my profession as a past Secretary and Director for Land of the Sky Association of Realtors and serve on the Board of Equalization and Review for Buncombe County.
I love living in the mountains and enjoy the coast as well. This is the best of both worlds as North Carolina is an incredible state! I feel blessed to call the mountains of NC my home. One of my favorite activities is to hike with my Jack Russell, "Bella". Other favorites include cycling, mountain biking, kayaking, pilates, yoga, and paddle boarding. You will often find me participating in local and regional races. I love to travel the world but most of all I love coming home!
Experience matters. Real estate transactions are generally the largest transaction that most people ever do. I would be delighted to talk with you about your real estate goals and objectives and put my experience to work for you.
