Renovating your home is a numbers game.
How much do you have to spend to fix up your home and what will it get you in return? When is it worth it to spend more on high-end finishes to get a better return on investment (ROI)? What are the best renovation projects and features that will appeal to the widest range of buyers when you decide to sell?
Home buying and design style are intensely personal choices, and not everyone will love the changes you make. However, using Zillow Talk, Zillow Digs keyword analysis, and data from the Zillow blog we pulled together some averages of home improvement projects. The results? By swapping out certain elements in your home, adding keywords to your listing, and playing up certain aspects of your house, you may be able to increase your resell value and sell your home faster. Not all of our suggestions below had an impact on the house sale price and time on the market, but they could be great investments for you.
The kitchen is one of the places that buyers look closely at when considering whether or not they will purchase your property. According to Zillow Talk, a full-gut kitchen renovation averages a 75 percent return rate (i.e., average cost: $30,000; resale value/ROI: $22,500). However, you may be able to get more or less value depending on what parts you choose to renovate and which you leave as-is. Let’s take a look at individual updates and keyword listings to see what may be more worth your time and money. And then take a look at some of our other kitchen suggestions in our kitchen guide.