Not all home improvements in Fairfax, Prince William, and the surrounding area bring in the same return on investment. And while ROI alone should not determine whether you move forward with a home addition or remodel, it’s nice to know which improvements are likely to be the best financially speaking.
If you’re looking to make the best home improvements to increase the value of your Northern VA home, you may be surprised to learn that it’s often the basic maintenance items, such as the roof, exterior painting and landscaping, and modern plumbing and electrical systems that really pay off.
What Northern VA Homeowners Want
Every homeowner has a unique vision for their own home, but there are some common themes we see here at Foley. A large number of clients want open concept floorplans, kitchen islands for casual gatherings, up-to-date bathrooms and plenty of good storage.
To enhance the value of your home, you can’t go wrong with kitchens and baths. But according to Remodeling Magazine, you will still recoup more of your investment in items such as an entry door replacement (98%) or attic insulation (130%). If your roof is leaking, potential buyers will filter everything else about your home through that lens. It won’t matter how awesome your kitchen is, or the spa-like features you’ve added to the master bath.
Kitchens and Baths Still Pay Off
That doesn’t mean new counter tops and walk-in showers don’t pay off. In fact, minor kitchen remodels have a ROI of 87% and bathroom remodels a nice 71% return, making them two of the best investments in your home.
Here’s the scoop on other home improvements that will give you the biggest bang for your buck:
- Home Maintenance: Your top priority should be in keeping your existing structure sound. Why spend tens of thousands of dollars on a kitchen remodel if the basement has water problems? You’ll spend a lot more fixing a foundation, so if forced to choose, a practical improvement trumps a floor-to-ceiling steam shower every time.
- Curb Appeal: A strong curb appeal is always a good investment. Whether you add a front porch to create interest, or a flagstone path, the goal is to create a sense of welcome. And a new color scheme can add instant value.
- More Space: If you live in a hot housing market, a home addition can be a particular good investment. From adding a family room, to substantially increasing your home’s square footage, a more livable home is always worth it.
One of the most popular improvements Northern VA homeowners are now requesting is poptop renovations. If you’re unable to build outward on your lot, or just want to retain its size and landscaping, a poptop may be your best solution. Building upward lets you improve your home by adding a new floor or multiple levels. It’s a great way to add master suites, new baths, a home office, or a media room, transforming your home without increasing its footprint.
The Happiness Factor
What you get back on your home improvement investments depends on a lot of factors, including the value of your existing home and the homes around it, as well as the quality of the project itself. For example, don’t put commercial grade appliances into your kitchen if you’re the only house on the block with one bathroom. The bottom line is you can’t put a dollar figure on the enjoyment you and your family receive from whatever home improvements you make.