When it comes to cheap or luxury home renovations, everyone's looking for the same thing: a high ROI (return on investment). Some upgrades may require a big(ger) budget, but sometimes… even small changes can increase your home's worth. So, in this guide, we'll walk through affordable and luxurious renovation ideas, focusing on upgrades that attract buyers and maximize return on investment.
1. First impressions matter: Elevate your curb appeal
Your home's exterior is the first thing people notice. Obviously, that "wow" factor can translate into a greater impact on property value. And curb appeal upgrades can achieve just that (according to a study.)
Budget-friendly options
A fresh coat of paint, a polished front door, and updated house numbers can elevate your home's appearance at a low cost. Sometimes it’s as easy as that to invest in your home. Adding simple but tasteful landscaping with native plants, pathway lighting, and mulch can further enhance the space.
Luxury home renovations for your curb
The average cost of landscaping ranges between $1249 and $6071. For high-end curb appeal, consider natural stone walkways, a patio, a deck, or even a water feature. Solar-powered garden lights can add ambiance while being energy-efficient, and high-end landscaping like trees or beautiful garden beds can give the space a prestigious feel (if that's what you're going for.)
2. Kitchen improvement: Functional luxury?
The kitchen is oftentimes the heart of the home and (as such) a key selling point if you do it right.
So... it should come as no surprise that renovations here yield some of the highest returns.
Affordable kitchen renovations
A kitchen facelift can include swapping out cabinet doors for a fresh style, or maybe replacing outdated hardware, or even investing in energy-efficient appliances for eco-friendly home renovations that attract buyers that love sustainability. Adding granite-look countertops can create a polished look WITHOUT the high-end price.
Kitchen luxury home renovations
For luxury appeal, high-end appliances from brands, along with smart kitchen systems, usually do the trick. Marble or quartz countertops, soft-closing drawers, and chef's faucets are popular with buyers and can increase the perceived value of the home significantly.
However, keep in mind that according to different reports, usually smaller and less extensive kitchen remodel projects tend to see higher returns than bigger projects. According to this report, the average ROI and impact it has on your home value ranges between 52.5%-71.2%.
So, you could say that the "affordable changes" mentioned above are better and the safest bet and you don't need to go overboard.
3. Bathroom improvements
Affordable bathroom renovations
Just like in the kitchen, paint can make an old bathroom feel fresh and new. Updating fixtures like faucets, towel bars, and showerheads is an easy, affordable way to add style. Swapping out the standard bathroom mirror for a framed one, or a larger, statement mirror, creates a polished look.
For minor changes, consider peel-and-stick flooring. It's inexpensive, water-resistant, and can mimic the look of more expensive materials. Simple shelves, baskets, and hooks give a functional boost to small bathrooms, creating more space without much cost.
High-end bathroom renovations
For luxury home renovations, often featuring a glass-enclosed walk-in shower or a freestanding tub can do the trick for your bathroom. These additions create a feel that's highly appealing to buyers.
Also, radiant heating is a luxury touch that will stand out in any home value estimator's calculation... offering comfort and a sense of luxury. Marble or ceramic tiles add durability and elegance. Choose neutral shades to maintain a timeless look.
4. Living spaces: Low-cost improvements and high-end additions
Living spaces are where people spend the most time, so any luxury home renovations here directly impacts a home's value.
Inexpensive living room upgrades
A fresh coat of paint in soft, neutral c.l,olors makes the room feel modern and bigger. Accent walls can add a touch of sophistication on a budget.
The typical range of painting the interior of a house is between $967 - $3,072.
Also...sometimes, just rethinking only the layout can make a room feel more spacious and inviting. Adding a few (affordable) stylish pieces like throw pillows or rugs can also refresh the look. Also, stylish yet budget-friendly light fixtures or dimmable lights can give your living room a cozier, more inviting ambiance.
High-end living room additions
Built-ins not only add storage but also become an architectural focal point, adding luxury to your living room. Integrating smart home technology (automated blinds, smart thermostats, and/or security systems) can attract buyers looking for convenience and modernity.
A fireplace adds a cozy, luxurious vibe. Gas fireplaces are generally easier to install, while a traditional wood-burning fireplace has timeless appeal.
Wood floors or high-end laminate are always in style, and they make the space feel warmer and more refined (if you choose the right colors.)
5. Attic and basement conversion
Attics and basements are often overlooked, but these spaces can provide valuable extra square footage that increases a home's value.
Budget-friendly attic/Basement tweaks
Adding insulation, basic flooring, and drywall can turn an attic or basement into a usable space without a full renovation. Simple shelves or storage units can turn these areas into functional spaces for storage, making the home more attractive to potential buyers. Brightening up these spaces with affordable lighting fixtures can make them feel less like storage rooms and more like usable areas.
High-end renovations of your basement
Specialty rooms like a theater or gym appeal to luxury buyers. Soundproofing and custom lighting are typically part of these high-end transformations.
Final thoughts
Cheap or luxury, renovations help you put your best foot forward, setting your home up to attract the right buyer at the right price.
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