Summer is a popular time for Metro DC homeowners to tackle home improvement projects from installing new landscaping to new front doors— or even a whole new kitchen! However, before you take those first steps or plan full-scale remodels, it’s important to consider what will bring you the greatest return on your investment (ROI).
According to real estate news outlet Keeping Current Matters, the following four projects will net homeowners in Bethesda, Chevy Chase, Washington DC, and the surrounding communities the greatest ROI:
Minor Bathroom Remodel
The #1 return on investment for homeowners is a minor bathroom remodel including a tub replacement, tile replacement, new toilet, sink, vanity, and other fixtures. This project will return homeowners an average of 102 percent!
This improvement project, including upgrading landscaping, adding shrubs, trees, and other flowers, walkways, planters, and mulch will yield homeowners 100 percent of their investment. The cost may be around $4,900, but you will likely recoup all of the investment at resale.
Minor Kitchen Remodel
A minor kitchen remodel is the project with the third highest ROI for homeowners, recouping 98.5 percent of the investment! Minor cosmetic upgrades like new countertops, flooring, refacing cabinets, or adding new lighting could cost as much as $15,000, but homeowners will see a high return at resale.
Making updates to your Metro DC home‘s exterior, such as new siding, a new front door, or even new light fixtures comes in at #4 for projects with the highest return. Homeowners can expect to recoup 95.5 percent of their investment.
Knowing where to invest your money wisely for resale is key for homeowners in Washington DC, Bethesda, Chevy Chase, and Northern Virginia.
Contact The Estridge Group today for more information about your home value or listing your home this year!