When it comes to home improvement projects that can increase resale value, there are several options to consider. Here are the top 5 projects based on the information provided:
HVAC Conversion: According to the 2023 Cost vs. Value report, an HVAC conversion is a home remodeling project that offers a high return on investment (ROI) of 103.5% .
Kitchen Remodel: A major kitchen remodel can also significantly increase the resale value of a home. On average, a complete kitchen remodel in a midrange home returns 91% of the investment at resale .
Bathroom Remodel: Similar to a kitchen remodel, a bathroom remodel can have a positive impact on resale value. Bathroom remodels have an estimated resale value of 71%.
Flooring Replacement: Replacing old floors with fresh tile in ceramic or stone can provide a solid payoff when it comes to increasing resale value.
Landscaping and Outdoor Improvements: Enhancing the outdoor space of a home, such as adding landscape lighting or improving the deck, can also contribute to increasing resale value.
It’s important to note that the specific impact on resale value may vary depending on factors such as the location, condition of the property, and the preferences of potential buyers. Additionally, it’s always a good idea to consult with a real estate professional or contractor for personalized advice based on your specific situation.