This week’s infograph from CAR looks at the Top 10 projects with the highest rate of return at point of sale. Do you know what doesn’t make the top 10? Completely renovating your kitchen. Another item that doesn’t appear? Tearing out all of your carpets and spending thousands of dollars on hardwood floors.
What is there? Try switching out your front door with a mid-range replacement…101% return on investment. For your front door!! What else does CAR come up with? Minor kitchen remodel at a mid-range level (79% ROI)…Don’t get me wrong, I love gourmet kitchens with Bosch ranges, but the return on investment just isn’t there. If that’s what you want for your own home than great! Do it. However, if you’re getting ready to sell I would encourage you to hold off (unless you plan on taking the industrial dishwasher with you).
This is especially true for those in the American Canyon market where many of the homes look the same on the outside. Minor tweaks like landscaping the front yard or simple renovations (e.g. having a different front door), a clean home, and a good negotiator are ultimately what will get you the highest possible price for your home. And who doesn’t want the highest possible price?