Marc Romanelli of Lexington, SC Explores Top Renovation Projects That Increase Home Value

Renovating your home can be an exciting opportunity to modernize your space, increase comfort, and, most importantly, boost your property value. However, not all renovation projects yield the same return on investment (ROI). Knowing which projects add the most value to your home can help you make informed decisions, whether you’re planning to sell or simply want to enhance your living experience.

In this article, Marc Romanelli of Lexington, SC, will explore the top renovation projects that are proven to increase home value. From kitchens and bathrooms to curb appeal and energy efficiency upgrades, these projects can help maximize the return on every dollar spent.

1. Kitchen Remodel: The Heart of the Home

The kitchen is often considered the heart of the home, making it one of the most important spaces to renovate. A well-designed, updated kitchen can significantly increase your home’s appeal and value. According to the National Association of Realtors (NAR), a minor kitchen remodel can recover about 77% of its cost, while a major remodel recoups about 58%.

Key Upgrades:

• Cabinet Refacing or Replacement: Replacing old, worn-out cabinets with modern designs or refacing them with new veneers can make a dramatic difference.
• New Countertops: Quartz and granite remain popular choices for their durability and aesthetic appeal.
• Updated Appliances: Energy-efficient stainless-steel appliances can modernize your kitchen and appeal to eco-conscious buyers.
• Lighting: Installing under-cabinet lighting or pendant lights over a kitchen island can enhance functionality and ambiance.

2. Bathroom Upgrades: Small Changes, Big Impact

Bathrooms are another critical area buyers evaluate when considering a home. Even small upgrades can deliver significant ROI, with a midrange bathroom remodel recovering about 71% of its cost.

Key Upgrades:

• Fixtures and Hardware: Modern faucets, showerheads, and cabinet pulls can give a bathroom a fresh, stylish look.
• Tile Work: Replacing old tiles with contemporary designs or adding a tile backsplash can make the space feel upscale.
• Energy-Efficient Toilets and Showers: These not only reduce water bills but also appeal to environmentally conscious buyers.
• Walk-In Showers: Converting a traditional tub to a walk-in shower is increasingly popular among buyers seeking accessibility and luxury.

3. Boosting Curb Appeal: First Impressions Matter

Curb appeal sets the tone for how potential buyers perceive your home. Marc Romanelli of Lexington, SC, explains that a well-maintained exterior can increase your property’s market value by as much as 7%. Projects that enhance curb appeal tend to be more cost-effective than major renovations, making them a great investment.

Key Upgrades:

• Landscaping: Planting native flowers, trimming shrubs, and adding mulch are affordable ways to refresh your yard.
• Exterior Painting: A fresh coat of paint can make your home look new and inviting.
• New Front Door: Replacing your front door with a modern, energy-efficient model can offer up to a 60% ROI.
• Outdoor Lighting: Solar-powered pathway lights or LED porch lights enhance safety and visual appeal.

4. Energy-Efficiency Upgrades: Savings That Sell

Energy-efficient upgrades are increasingly important to buyers who want to save on utility bills and reduce their environmental impact. Marc Romanelli of Lexington, SC, understands that many of these upgrades are also eligible for tax credits, making them a win-win for homeowners.

Key Upgrades:

• Insulation: Adding insulation to attics, walls, or basements can lower heating and cooling costs.
• Windows: Energy-efficient windows reduce drafts and improve temperature regulation, offering up to a 68% ROI.
• Solar Panels: While the upfront cost can be high, solar panels are attractive to buyers looking for long-term savings.
• Smart Thermostats: Devices like Nest or Ecobee appeal to tech-savvy buyers and improve energy efficiency.

5. Adding Living Space: Bigger Is Better

Expanding usable living space can drastically increase your home’s value. Converting existing areas into functional rooms is often more cost-effective than building from scratch.

Key Upgrades:

• Basement Conversion: Turning an unfinished basement into a family room, home office, or guest suite can yield an ROI of around 70%.
• Attic Conversion: Transforming an attic into a bedroom or loft can make your home more versatile.
• Open Floor Plans: Removing non-structural walls to create open, flowing spaces appeal to modern buyers.

6. Outdoor Living Spaces: Extending the Home

Marc Romanelli of Lexington, SC, explains that outdoor spaces are increasingly seen as an extension of the home. Decks, patios, and outdoor kitchens are particularly attractive in areas with temperate climates.

Key Upgrades:

• Deck Addition: A wooden deck has an average ROI of 65%, while composite decks offer slightly less but are lower-maintenance.
• Outdoor Kitchens: Adding a grill, countertops, and seating can transform your backyard into an entertaining haven.
• Fire Pits and Pergolas: These features add charm and functionality, making outdoor spaces usable year-round.

7. Flooring Upgrades: Walk-on Value

Flooring is a foundational element that sets the tone for the rest of your home. Upgrading old, worn-out carpets or scratched hardwood floors can dramatically increase appeal.

Key Upgrades:

• Hardwood Floors: Refinishing existing hardwood floors has a high ROI, often exceeding 100%.
• Luxury Vinyl Plank (LVP): This durable and affordable option mimics the look of hardwood at a fraction of the cost.
• Tile and Stone: Perfect for bathrooms and kitchens, these materials are durable and attractive.

8. Painting: The Most Cost-Effective Upgrade

A fresh coat of paint can work wonders for both the interior and exterior of your home. Neutral tones like white, gray, and beige appeal to a broader range of buyers.

Benefits:

• Cost-Effective: Painting is one of the least expensive renovations, yet it can make a home feel fresh and modern.
• Customization: You can use paint to highlight architectural features or create accent walls for added character.

Choose Wisely for Maximum ROI

When planning home renovations, it’s essential to prioritize projects that offer the highest ROI while aligning with your budget and lifestyle. Kitchens, bathrooms, curb appeal, energy efficiency, and outdoor spaces are some of the best areas to focus on.

Before starting any renovation, research your local market to understand what buyers are looking for. Consulting with a real estate professional or contractor can also provide valuable insights. Marc Romanelli of Lexington, SC, emphasizes that with the right approach, your renovation project can increase both your home’s value and your enjoyment of the space.