When it comes to selling a home, timing and preparation are key. One of the smartest moves you can make before putting your house on the market is investing in upgrades that will increase its value. But with so many potential projects, how do you know which improvements will give you the best return on investment?
As an experienced real estate investor, I’ve seen firsthand which upgrades can boost your home’s resale value quickly—and which ones don’t. If you’re preparing to sell and want to make smart investments, here are the 7 best home improvements for resale value in 2024 that will help you sell your Maryland home faster and for more money.
Why Invest in Home Upgrades Before Selling?
Before diving into the list, it’s important to understand why upgrading your home matters when you’re planning to sell. In today’s competitive market, buyers are looking for homes that are move-in ready and don’t require major repairs or renovations. A few well-thought-out improvements can make your property stand out from the competition, making it more appealing to potential buyers.
Additionally, some upgrades offer a higher return on investment (ROI) than others. The goal is to focus on improvements that not only enhance the overall aesthetic of your home but also provide tangible financial benefits when you sell.
1. Update the Kitchen for Maximum ROI
The kitchen is the heart of the home, and updating it can significantly boost your home’s value. According to real estate experts, minor kitchen remodels offer one of the highest ROIs, recouping up to 80% of the cost at resale. You don’t have to go all out—upgrades like replacing countertops, refacing cabinets, adding a fresh coat of paint, and updating appliances can give your kitchen a modern, sleek look.
Key Kitchen Upgrades:
- Install granite or quartz countertops
- Update to stainless steel appliances
- Replace outdated cabinet hardware
- Add a stylish backsplash
Buyers love a modern kitchen, and these changes can make your home feel more luxurious and functional.
2. Refresh the Bathrooms for a Quick Boost
Similar to kitchens, bathroom remodels provide a strong ROI, often around 70% or more. Buyers are particularly drawn to updated bathrooms with features like new vanities, updated lighting, and modern fixtures.
Essential Bathroom Upgrades:
- Replace outdated fixtures with contemporary finishes
- Install new vanities with plenty of storage
- Update the shower or bath with glass enclosures
- Add energy-efficient lighting fixtures
A clean, fresh bathroom signals to buyers that the home has been well cared for, and it can help them imagine themselves living comfortably in the space.
3. Boost Curb Appeal with Landscaping
First impressions matter, and your home’s curb appeal can be a deal-maker or breaker. Simple landscaping improvements can drastically increase your home’s value by making it more welcoming and attractive. According to the National Association of Realtors, homes with strong curb appeal can sell for up to 7% more than similar properties without it.
Quick Curb Appeal Enhancements:
- Plant native plants and flowers for a well-maintained look
- Install a new front door or paint the existing one a bold color
- Update outdoor lighting to create an inviting atmosphere
- Lay fresh mulch and trim bushes or trees
These small but impactful changes will give buyers a great first impression and increase your home’s perceived value.
4. Add Energy-Efficient Windows
Energy efficiency is becoming a top priority for many homebuyers. In fact, upgrading your windows to energy-efficient models can offer an ROI of up to 75%. Not only do these windows make your home more eco-friendly, but they also help reduce utility costs, making them a big selling point.
Energy-efficient windows not only appeal to environmentally conscious buyers, but they also improve the overall comfort of the home by keeping it warm in the winter and cool in the summer. It’s an upgrade that pays off long-term and can make your home more marketable in 2024.
5. Repaint for a Fresh Look
Never underestimate the power of a fresh coat of paint. It’s one of the cheapest upgrades you can make with the highest ROI, often returning up to 107%. Neutral colors like light grays, beiges, and soft whites are always popular because they allow potential buyers to envision their own style in the space.
Painting Tips:
- Stick to neutral tones to appeal to the most buyers
- Don’t forget about the exterior—a new coat of paint on the outside can enhance curb appeal
- Use high-quality paint for a long-lasting, durable finish
Repainting is a simple yet effective way to modernize your home and make it feel brand new.
6. Upgrade the Flooring
Outdated or worn-out flooring can be a huge turn-off for buyers. Replacing old carpet or laminate with hardwood floors or luxury vinyl plank (LVP) can dramatically increase your home’s value. Real estate agents report that new flooring can boost your home’s resale value by as much as 5%.
Flooring Upgrades to Consider:
- Install hardwood or engineered wood floors
- Opt for luxury vinyl plank for a durable, water-resistant option
- Replace old carpet in bedrooms with neutral-colored, plush carpet
Hardwood flooring is consistently one of the most desirable features for buyers and adds a sense of elegance and quality to your home.
7. Install a New Garage Door
Surprisingly, one of the best home improvements for resale value in 2024 is a new garage door. This seemingly small change can offer an ROI of over 94%, making it one of the highest-value investments you can make. A new garage door instantly boosts curb appeal and can improve the overall functionality and security of your home.
When choosing a new garage door, opt for one with modern features like smart technology and insulation, which are particularly appealing to today’s buyers.
Prioritize the Right Upgrades for Maximum Value
When selling your home, it’s all about making smart investments. By focusing on these seven upgrades—like updating your kitchen, refreshing bathrooms, enhancing curb appeal, and installing energy-efficient windows—you’ll be well on your way to increasing your home’s value quickly. Remember, you don’t need to take on massive renovations to see significant results. Even small, targeted improvements can make a big difference in how quickly your home sells and how much you can get for it.
Be sure to avoid these costly mistakes when selling your home to maximize your return.
Take action today—these home improvements can make all the difference in how quickly your home sells and the price you receive.