As a homeowner in Naples, you're likely always looking for ways to improve your property and maximize its value. Whether you're planning to sell your home in the near future or simply want to make it a more comfortable and enjoyable space for you and your family, investing in home improvements is always a smart move.
With that said, not all home improvements provide the same return on investment. In this article, let’s take a closer look at some of the best home improvement projects for the highest return on investment. That way, you can get the most out of your money and time.
Maximizing your home's value
Maximizing your home's value is essential, whether you're planning to list your home on the market or simply want to level up the space for your own enjoyment. If you’re selling your home and seeking expert advice on which upgrades are most worth the effort, look to your agent! They are well-versed in the features that buyers want to see, and they can recommend updates or renovations that will pay off in dividends at the closing table.
Kitchen renovation: Make a statement with new upgrades
One of the most popular home improvements for homeowners to tackle is kitchen upgrades and renovations. This is because the kitchen is often considered the heart of the home and can have a significant impact on a buyer's decision to purchase a property.
A remodeling impact report by the National Association of Realtors found that kitchen renovations have an average ROI of 67%. These projects might include:
- Upgrading to high-end appliances, such as a French door refrigerator or gas range
- Installing new countertops, such as granite or quartz
- Refacing or repainting the cabinets for a fresh, modern look
- Adding a kitchen island for additional countertop and storage space
- Installing new lighting fixtures, such as pendant lights or under-cabinet lighting
Bathroom upgrades: A high ROI renovation
Another popular area for home improvements is the bathroom. Like the kitchen, a modern, sophisticated, updated bathroom can strongly influence a buyer's purchase decision. Bathroom renovations have an average ROI of 71%. You might want to tackle:
- Installing a new vanity with a granite or quartz countertop
- Replacing outdated fixtures, such as faucets and showerheads
- Adding new lighting fixtures, such as sconces or recessed lighting
- Installing a new bathtub or shower with modern tile and glass doors
- Replacing old flooring with new tile or vinyl plank flooring
Outdoor living spaces and landscaping: Enhance your home’s appeal
In Naples, outdoor living spaces are a must-have for many homeowners, with the warm weather and beautiful scenery making it the perfect oasis to enjoy the great outdoors. Some of the best ROI outdoor living space upgrades include:
- Adding a screened-in porch or lanai for bug-free outdoor living
- Installing a pool or hot tub for year-round enjoyment
- Creating an outdoor kitchen with a grill and sink
- Adding outdoor lighting for ambiance
- Updating the landscaping with gorgeous, native Florida plants and trees
Energy-efficient upgrades: Save money and increase your investment
In addition to improving your home's style and functionality, investing in energy-efficient upgrades and renovations can also level up your home's value. Some of the best energy-efficient upgrades include:
- Installing a programmable thermostat to save on heating and cooling costs
- Upgrading to energy-efficient windows and doors to improve insulation
- Adding insulation to walls and attics to reduce energy usage
- Replacing old appliances with energy-efficient models
- Installing solar panels to generate your own electricity
Home technology upgrades: Make your home stand out from the crowd
Investing in home technology upgrades can also increase your home's value. This is because many savvy home buyers are looking for modern and convenient features that make their lives easier. Some of the best home improvements for a solid return on investment include:
- Installing a smart thermostat that can be controlled from your phone
- Installing a smart home speaker system for music and voice control
- Setting up smart lighting systems
- Installing a video doorbell
Attic-bedroom conversion: Extra space with a high ROI
One of the best returns on investment in home improvement projects is an attic-bedroom conversion. This project can be completed relatively quickly and is a cost-effective way to add more livable space to your home.
Before starting the conversion, it's important to ensure that your attic is suitable for a bedroom. You must have proper insulation, ventilation, and electrical wiring installed to make the space livable. Also, consider the layout and design of the room, including the placement of windows, closets, and lighting.
Once the conversion is complete, you can enjoy the benefits of an extra space full of possibilities. This will not only increase the value of your property, but it will also provide a comfortable and functional space for your family and guests.
Hiring a professional for home improvements
While some home improvements can be done on your own, hiring a professional is often best to ensure the job is done correctly and up to code. This is especially true for major renovations that require permits and inspections. A professional contractor can help you plan and execute your home improvement project, ensuring that you get the best ROI possible.
Choosing the best renovation for a high return on investment
There are numerous home improvements that you can take on to increase your home's value and allure. Whether it's enhancing your kitchen and bathroom to a serene space or creating an outdoor living area full of life and gorgeous lighting, investing in your home is always a wise decision. By hiring a professional and collaborating with a top REALTOR®, you can guarantee that your home upgrades are done correctly and for the highest return on your investment.
When you’re ready to start planning your next home improvement project, reach out to trusted REALTOR® Greg Gorman at Think Naples. With a strong background in interior design and expert insight into the housing market, Greg is ready to help you explore all the possibilities and work toward a winning sale.
*Header photo courtesy of Shutterstock