Projects That Pay: Top 5 home renovations with the best ROI

Posted by on Thursday, July 9th, 2015 at 1:37pm.

Some home improvement projects offer plenty of bang for your buck, while others cost more than they’re worth. Check out our top 5 recommended home improvements  for the Chattanooga area that provide the best return on investment to improve your home’s value.

5. Fresh Paint

A fresh coat of paint can make almost anything look brand new. The same goes for your home! One of the least expensive home improvements you can make is repainting, and even though it can take some time and sweat, it’s worth it to give home buyers an immediate good feeling when walking in the door. Although it’s recommended to go with a neutral color palate, that doesn’t mean you have to live in the land of beige. Try neutral greens, greys or browns for a nice change of pace that will also give a great backdrop for your furniture and decor.

4. Curb Appeal Makeover

Just like when meeting new people, when potential buyers are looking at your home, first impression is key. An overgrown lawn, unkept garden or cracked and broken walkways give a negative impression right off the bat to anyone considering your home. Some people will even look at the outside of a home and drive by without ever going in, assuming that if the outside looks bad, the inside will look the same. Don’t bother with grand yard features like a koi pond or waterfall. Basic updates like trimming back overgrown shrubbery, planting colorful flowers and replacing an old front door can make a huge difference in the look of your home.

3. Banish Popcorn and Paneling

Popcorn ceilings and fake wood paneling are two features of older homes that are never coming back in style. Most home buyers will look at these things and immediately add them to their mental list of work that will have to be done if they purchase your home. If you like the look of the wood, take down the old MDF panels and create a focal wall in the home with real reclaimed wood. This rustic look is very on trend right now, and for the right buyer, this character boost could separate your home from the rest. As for popcorn ceilings, simply drywall over them to give your home a modern update. One of the best things about this is that you can cut holes in the ceiling without repairs later—so while you’re at it, you can move or add light fixtures or install a ceiling fan.

2. Bathroom Redo

Thinking of adding another bathroom? Stop thinking and do. A bathroom addition can bring a lot of added value to a home. If you’re not ready for an addition, try remodeling your existing bathrooms and replacing any outdated fixtures, such as the vanity or older toilets. If it’s a smaller bathroom, stick with just a stand-up shower and no tub. In a larger bathroom, strip the bath down to the studs and replace the old tub with a porcelain option with a tile surround. Be sure to update any old light fixtures and refresh the paint.

1. Kitchen Update

Have you ever stopped and wondered why most family and friends gather in the kitchen? This room is arguably the heart of the home, where people get together to commune over a universal love: food. Because this is the most respected room in the house, any type of update you put into it will come back to you in resale. It doesn’t take a total overhaul to make a difference, either. A fresh coat of paint on cabinets and new hardware can totally transform a kitchen. If you’re looking for a larger investment, try adding a solid surface countertop such as granite, recessed lighting and a tiled backsplash, all options that buyers look for and appreciate in a home.

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