Home Renovation in a Recession

Maybe there might be a recession, maybe not depending on who you ask. However, there are certain updates to your home that will provide you with the most ROI (return on investment) regardless if we're in a recession or not. I'm going to go over some recommendations to see if they can be of value to you. While remodeling a kitchen and adding a bedroom or perhaps adding a bathroom are usually at the top of the list of what people consider a great investment into a home with the highest ROI. There are certain upgrades that produce great ROI on a budget. Remodeling magazines, 2022 cost versus value report list.

BEST Return on Investment

The projects with the best return on investment has garage door replacement on the top of the list. With the average national cost of just over $4,000, homeowners can reap a 93% ROI I new steel entry door at around 2200 can result in a 64% ROI.

Best Paint Color

Repaint walls in white to show the buyers a blank canvas.

Best Investments to Make on your Home

Remove any mirrors on the walls that seem dated along with any fixtures paint dark kitchen cabinets white or a lighter color remove all carpeting and refinish floors. Update doorknobs and kitchen cabinet pools, replace bathroom fixtures, fix or update all lighting.

Remove outdated window treatments and wash all windows, regroup bathrooms, update old vanities. So that's a list that I have personally seen as a great list of things that you can do to your home that will provide the most are why. I'll give you the perfect example.

A lot of homes, especially here in northeast Florida, where track builders and they'll use construction grade like light bulbs and and mirrors these lighting fixtures, the faucets. It's always my best advice to sellers to upgrade those things because they're usually pretty cost effective get a great mirror with some really nice lighting and a great kind of newer faucets dress things up a little bit. Those changes will make a huge impact on how a space feels.

Best scents that appeal to buyers

Also, just the smell of paint, believe it or not, has like this new smell for people. That's the sense they get like, oh, it's smell of paint, something smell that is actually appealing to people. The smell of cinnamon along with chocolate chip cookies, they've done some type of research on that.

Another thing to consider is, you know, obviously if you're thinking of selling or if you're going to stay in the home long term and this is the advice I usually give somebody you want to make sure to upgrade based off the competition unless you're willing to compensate on price so that's very important.

Other factors include, you know, other things that the property has in regards to features that might compensate for an outdated kitchen or something like that. But it's case by case.

Now, if you plan on living in the home long term, you know they're going to carry you out of this house, do what you want, because a matter right now, if you plan on selling it, though, don't do anything too crazy. But, you know, if you plan on selling it in less than ten years, be careful. But if you plan on retiring in the home and just whatever do whatever makes you happy.

Those are upgrades that I feel are inexpensive and will provide you with the most exterior. Landscaping is another cleaning up the exterior of the home with some nice shrubbery and some plants of perennials, painting the fence crusher, washing those things add a huge ROI to a home. And especially with the times that we're in right now, they're cost effective and it's always important to love where you live and appreciate your surroundings. And if there's not a lot of money coming out of pocket to accomplish those goals, why not?

If you have any specific questions about why you should probably do to your home, especially in these times, whether you're thinking of selling or you're thinking of redoing the home to make you feel fresh, we'll be more than happy to talk to you, walk you through a few things that we see in the market, and as always be of value.

Contact us today, comment below your upgrades.