No two home improvement projects are alike. Whether you’re planning to remodel a bathroom, replace all your single-pane windows, or simply update your front door, you may be wondering what upgrades have the best return on investment, especially in the Bay Area. To help guide you along your home improvement journey, we put together a blog post using data courtesy of Hanley Wood Media and the California Association of REALTORS.

 

Keep in mind that both the initial cost and the final return on investment values change based on a multitude of factors: Remodeling projects will vary by the specific market, popularity and demand trends, material costs, and different appraiser's assessment of value!

 

 

The return on investment data provided is expressed as a percentage: Any value less than 100% represents a negative investment where the costs were higher than the return, and any value over 100% represents a meaningful investment where the costs were less than the return, granting homeowners higher asking prices.

 

According to Hanley Wood Media in their 2016 Cost vs. Value report, home upgrades that are cheaper and easier to perform generally yield the greatest return on investment, “Four of the five projects that cost less than $5,000 for a pro to do were ranked in the top five for cost recouped ...no project costing more than $25,000 ranked better than 13th.

 

Projects that require less time and resources from a professional are the best home upgrades sellers should consider as a worthwhile investment. Larger projects often require more planning, physical labor, and permits. In addition, large projects like full kitchen remodels and full story additions have a greater chance of being less desirable to a pool of potential buyers who may have their own ideas in mind for those spaces. For example, simple projects like garage door replacements net home sellers 115% ROI in 2016 versus a major kitchen remodel, which cost homeowners an average of $127,000 with a 70% ROI," according to Hanley Wood Media.

 

In addition, smart home devices can also bring in higher resale values for cheap. Click here to read more on smart home technology on the Marvin Gardens blog.

 

Need referrals to tradespeople? Do you have questions about property taxes or what improvements yield the best return when it’s time to sell? Give us a call or contact one of our Bay Area real estate experts at Marvin Gardens. We will connect you with local tradespeople to obtain bids for various repairs and improvements.