3 Best Home Upgrades for Maximum ROI

By Arizona Home Group

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What are the best improvements you can make to your home to get the best return on your investment? The housing market is unusual throughout the year. We have increased but stable inventory, yet a dramatic drop in pending sales. This caused many homes to sit on the market for 60 to 90, or even more than a hundred days. This is very different from two years ago when homes sold within the first weekend with multiple offers, bidding wars, and waived inspections and appraisals, often selling for $50,000 to $100,000 over the asking price.

However, even in this market, some homes still sell within the first weekend, and some with multiple offers. These homes have typically been remodeled, allowing buyers to move right in without major renovations. While kitchen and bathroom renovation offer the highest return on investment, they are also the most expensive. So, if you’re thinking about selling your home, here are some affordable options that can add value to your home.

1. Interior and exterior paint. Adding a fresh coat of paint inside your home gives a fresh, new feel and brightens up your living space. Painting your kitchen cabinets is a cheaper way to update how it looks instead of replacing them. Painting the exterior of your home not only improves the health of your stucco or siding but also increases curb appeal. Painting the front door is highly recommended and has a positive effect on buyers seeing your home for the first time.

2. Landscaping. This is another high-value investment. Focus on both the backyard and front yard to improve curb appeal. You’ll find that spending money outside of your home often gives a higher return than some interior improvements.

3. Home pre-inspection. We recommend having your home checked before it goes on the market. This allows you to address minor and major repairs you might not have known existed. You can hire a licensed home inspector for a detailed report of any deferred maintenance for a nominal fee of $500 to $600. This is generally cheaper to fix these items beforehand than to negotiate them or risk losing a buyer during escrow.

Generally, it doesn’t take a lot of money to make the home feel newer. You can even get deals for flooring and countertops for your home. We can also help you by providing a list of trusted vendors, including painters, contractors, landscape, roofers, and plumbers. So don’t hesitate to reach out to us by phone at (602) 571-3730 or send us an email for any of your real estate needs.