Improving your home’s value is not only about aesthetics but also about making smart choices that can offer a solid return on investment (ROI) when the time comes to sell. Whether you're planning to list your home in Burr Ridge, IL, or simply want to enjoy a more luxurious and functional space, understanding which home improvements offer the best ROI is crucial. In this guide, Jeff Salhani covers some of the most impactful upgrades you can make.
Kitchen Remodels: A Classic Choice
The kitchen is often considered the heart of the home, and for good reason. It's one of the most used spaces, and prospective buyers frequently scrutinize it during home tours. A well-executed kitchen remodel can yield a high return on investment, particularly in luxury markets.
When considering a kitchen remodel, focus on features that blend functionality with style. Upgrading to energy-efficient, stainless steel appliances, adding a kitchen island, and installing quartz or granite countertops can modernize your kitchen without overspending. Additionally, soft-close cabinets and high-end lighting can enhance the appeal.
How Much to Spend on a Kitchen Remodel?
In general, it’s recommended to invest around 5-10% of your home’s total value in the kitchen. Spending more than this could result in diminishing returns, as buyers may not be willing to pay a significant premium for overly luxurious features.
Bathroom Upgrades: A Smart Investment
Bathrooms, much like kitchens, are critical to both the daily functionality of a home and its resale value. Modernizing bathrooms with sleek fixtures, better lighting, and increased storage can offer a solid return on investment. Adding features such as walk-in showers, dual sinks, and water-saving fixtures can also help elevate the space.
In luxury markets, high-end materials like marble or heated floors can make a significant difference, attracting discerning buyers.
Consider Adding a Powder Room
If your home only has one full bathroom, adding a powder room can increase your home’s functionality and appeal to families. Powder rooms are relatively inexpensive to install compared to full bathrooms but can add significant value to your home.
Landscaping and Curb Appeal: First Impressions Matter
Curb appeal sets the tone for the rest of the home, and making improvements to your home’s exterior can be one of the most cost-effective ways to increase its value. Simple upgrades like adding fresh landscaping, planting mature trees, or updating your driveway with pavers can make a big impact.
One of the highest-ROI improvements you can make is updating your front door. Similarly, adding exterior lighting and a well-maintained lawn can also go a long way in making your home look more inviting.
Invest in Low-Maintenance Landscaping
Buyers appreciate a well-kept yard but may not want to take on significant upkeep. Opt for low-maintenance plants, drought-resistant landscaping, or automatic irrigation systems. This not only improves curb appeal but also attracts environmentally-conscious buyers who value sustainability.
Energy-Efficient Upgrades: Savings and ROI
Energy-efficient upgrades are increasingly popular, not just for their environmental impact but also for their ability to save homeowners money on utility bills. From high-efficiency windows to solar panels, these upgrades can significantly reduce energy consumption.
Adding insulation, upgrading to a smart thermostat, and installing Energy Star-rated appliances can all contribute to energy savings and add value to your home. Buyers today are keen on homes that offer long-term savings and sustainability.
Solar Panels: A Long-Term Investment
While solar panels require an upfront investment, they can pay off over time, both in energy savings and increased home value. Homes with solar panels often appeal to eco-conscious buyers and can command higher sale prices in markets where energy costs are high. Be sure to assess the ROI based on your area, as it varies depending on local energy costs and incentives.
Basement Conversions: Extra Living Space with High Returns
If your home has an unfinished basement, converting it into a functional living space can provide a significant return on investment. Whether you add a home theater, guest suite, or gym, finished basements are a valuable addition, particularly in family-oriented neighborhoods.
Basement conversions are also versatile. Whether buyers are looking for extra living space, rental potential, or a recreation area, a finished basement can meet their needs and set your home apart in the market.
Waterproofing Is Essential
Before investing in a basement remodel, it’s essential to ensure that the space is properly waterproofed. A dry, well-maintained basement is key to protecting your investment and ensuring the space remains comfortable and usable.
The Impact of Garage and Storage Solutions
Another high-ROI improvement is upgrading or expanding your garage space. In luxury markets, heated garages, built-in storage systems, or even adding an additional bay can significantly enhance the appeal of your home. Buyers appreciate having a secure and organized place to store their vehicles and belongings, especially in areas where winters are harsh.
Adding smart storage solutions throughout the home, such as custom closets or pantry systems, can also add value. Buyers are increasingly looking for homes that offer ample storage, making these upgrades both practical and profitable.
Maximize Your Home’s Value with Strategic Improvements
Investing in the right home improvements can have a substantial impact on your property’s value and appeal, especially in a competitive market like Burr Ridge, IL. From kitchen remodels to energy-efficient upgrades, knowing which projects provide the best return on investment is crucial for maximizing both your enjoyment of the space and your eventual sale price.
If you’re ready to explore how these improvements can enhance your home’s value, or if you're considering buying or selling real estate in Burr Ridge, reach out to
Jeff Salhani today to discuss your options and take the next step in your real estate journey.
