Although 2022 is a hot seller’s market, you may think I don’t need to do anything, everything is selling. That is not the case. Why leave money on the table????? Not doing some simple things to increase the value of your home is the same thing as showing up to a party in your workout clothes rather than something stylish. By doing some extra work, you will make even more money.  

Coming up in this post:

  • 6 home improvement projects that will give you the greatest return. 
  • Some ideas on how to accomplish those projects.
  • The biggest mistake sellers make when doing an improvement project.

To begin with, my first piece of advice is to do smart renovations.

BUT – What does that mean???? 

  • Don’t overspend – be smart with what you do. You don’t have to do it all. Do whatever project you can handle and do it right.
  • Don’t be cheap – budget more for the material, as the labor to install it is the same whether you spend more on the material or not, and buyers will know the difference.
  • Don’t do it yourself unless you know what you are doing – buyers will know the difference. In addition, in the event, there are home inspections, improper improvements will be found. Here are the 6 improvements which will put more money in your pocket and I like to start with #6 first

#6 The Garage Door

The house will look much newer as a result of it! In the event that you live in a hurricane-prone area and you purchase a hurricane door that has a real value and provides an 88.7% return on investment. 

#5 Paint

This is the easiest project and yields a 107% return when you paint the inside and a 55% return for the outside. Pro Tip: Pick a nice neutral paint color (not builder white) and patch all the holes where pictures were hung to create the I’m ready for a new owner feel. This will make the house feel fresh and clean. According to Business Insider, dark front doors sell for over $6000 more and take very little paint plus they will look fresh and have a more modern look.

#4 Curb appeal

People see the outside first, so don’t ignore it. It will either encourage them to go inside or make them drive by. They know if you keep the outside in reasonable condition, you will probably keep the inside in good condition as well. You will earn 94% on your investment.

#3 Flooring 

The carpet needs to be replaced if it is over 5 years old and if it is in different colors in different rooms. Some sellers update flooring to wood floors or plank wood tile, however, this is expensive. Unless you did it for yourself to enjoy, you have no idea if the new owners will like it. Replacing carpet with carpet is the most effective option. An owner can easily remove and install what they want.

#2 – Bathrooms

 Most people spend a considerable amount of time here. It doesn’t have to be everything, but place double sinks and replace the vanities and countertops if the cabinets are low (from the 80s and early 90s). New sinks and toilets make a huge difference. The tub and shower don’t have to be replaced, but seamless glass shower doors could improve the appearance. Return rate of 66.7%.

#1 – The Kitchen

 In the end, you do not have to do everything: add a nice counter, a deep sink, and new appliances – remember, make sure these are the same brand and not a mix and match that would appear as though you bought them on sale. The return on small kitchen renovations is 77.6%, while large renovations are 58.6%. Don’t go crazy; choose your projects carefully and tastefully.

It’s true that big ticket items will yield a greater return, but only if you intend to enjoy them while you live in the home. This includes roof replacements, siding replacements, and window replacements

The biggest mistake sellers make:

No matter if you are purchasing a home as an investment or if you intend to live in it, a buyer knows when the house hasn’t been loved.  

Don’t do the flip remodeling.  

It is common for flips to have a less expensive quality of improvement and to use all the trendy colors, but there is often not much detail in the improvement. For example, paint can be poorly done, woodwork isn’t done properly, seams aren’t aligned or a drawer falls out when you open it.  

I see those homes on the market for a longer period of time even in this market. To a buyer, this screams hidden defects. While I am not advocating against purchasing a home as an investment, if you do….do it well

In this seller’s market, you have the opportunity to receive more dollars for your home when you sell it. Therefore, why not take advantage of that while you are living in it so you can enjoy the improvements too? You now know a few things about home improvement projects, so leave me a comment below with your thoughts or questions. Have a great day.