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Design Dilemma: 5 Interior Renovations with a Big Payoff

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We’ve talked about exterior renovations that provide a big return on your investment. Replacing tired siding, drafty old windows, garage doors that have seen better days, are all relatively inexpensive ways to dramatically improve the look (and value) of your home.

So what are the best renovations to improve the value and look of the interior of your home? The answers may surprise you, as they do not involve major upscale kitchen remodels, or wiring your home for stereo in every room. Instead, simple very visible projects are the big winner here. Think easy renovations that change your first impression of a home. Because they don’t cost much money, you will easily recoup your cost, versus spending $100,000 on a kitchen remodel that no buyer is willing to pay for.

Quick tip: choose projects that are in keeping with the character of your home, and don’t over-improve far beyond what similar homes in your neighborhood offer. Although upgrading plumbing and electrical work may be essential to the functionality of your home, don’t expect buyers to reward you financially for all that effort. (They already expect the electricity and plumbing to work!) For them, the bonus comes in feeling good in a space, and knowing there is no need to spend any extra time or money on cosmetic work.

Here are 5 winning projects for upgrading your home’s value at a relatively low cost:

 

1). Upgrade the flooring. If you have worn and buckled hardwood floors, have the floors refinished for a big payback. If your home is outfitted with dirty and worn carpeting, consider installing hardwood or tile. If you can’t afford that, at least upgrade the carpeting.

2. Replace kitchen cabinet fronts.

Believe it or not, a major upscale kitchen remodel is not necessarily a good investment. You’re better off improving the look of your kitchen in very simple ways, such as repainting chipped cabinets or replacing cabinet fronts altogether. Buyers may not be willing to pay for too fancy upgrades, such as wine coolers, or the fanciest, top of the line refrigerator. They will, however, appreciate clean and bright cabinetry that makes a kitchen feel fresh and new.

3. Paint the walls.

And speaking of fresh and new, a fresh coat of paint is one of the simplest, most inexpensive projects you can do, but it has a major impact on the look and feel of your home. What color should you choose? While designer colors go in and out of style, almost everyone appreciates a light, bright white.

 

 

5. Install New Kitchen Appliances.

It’s one of the simplest things you can do in a kitchen, since it requires no actual work! Replacing old, dated appliances with something new is extremely attractive to home buyers, as it suggests at least a few years of worry-free use. And when new appliances are good-looking as well, they can help an older kitchen feel fresher.

So you see, renovating your home both for yourself, and profit, can actually be much simpler than you may have thought!