HGTV's Jenn Todryk Says To Renovate These Rooms To Up Your Home's Resale Value
Homes can be a great investment if you have the right strategies — some purchase a home to live in, knowing they'll sell it in the future, and others may buy a home specifically to transform and sell again. Regardless of why you want to sell a home, focusing on resale value will certainly help to raise your return on investment. There are certain rooms that are better for resale value than others, according to Jenn Todryk, star of HGTV's "No Demo Reno." In an interview with Dallas News, Todryk says, "You put your money in the main moneymakers for homes: main bathrooms and kitchens. Because that's, for whatever reason, what we as a society are really, really impressed by."
Bathrooms and kitchens have always been rooms that homebuyers want to be updated and beautiful. Both of these spaces have to be both functional and aesthetically pleasing and they're often rooms everyone in the household uses daily. It would make sense that these are two rooms that experts would focus on for resale value. On average, for bathroom renovations, the return on investment is about 70%. Kitchens, similarly, have an average return on investment between about 52% and 71% for kitchen remodels. With this high ROI, it makes sense that the kitchen and bathroom are the places to focus on to increase resale value.
Main bathrooms should be priorities
In order to get the highest resale value, you have to focus the majority of remodeling efforts on certain rooms. Jenn Todryk from HGTV's "No Demo Reno" says the bathroom is one of the places that potential buyers want to be updated. "We want a big luxurious bathroom, which is understandable; you start and end your day in it, right?" Todryk says in an interview with Dallas News. "And they want natural lighting."
Main bathrooms and ensuites are the bathrooms you should focus on if you're making a plan to increase resale value. A mid-range bathroom remodel has an average 66.7% return on investment, while an upscale one has a 36.7% ROI. If you're adding a bathroom to the home, this can lead to a 30.2% ROI, while adding a new primary suite with a bathroom is about a 30% ROI.
Specific bathroom projects can be better for your resale value. For example, adding a walk-in shower or a steam shower can be a 70% and 30% return on investment, respectively. Replacing countertops, flooring, and lighting are also details that can help aid in creating the comfortable and relaxing environment home buyers want. Luxury details like heated floors aren't always necessary but can boost appeal. Unseen projects such as upgrading the plumbing can be a major bonus for a bathroom renovation.
Kitchens should also be a focus
The other room you should focus on for increased resale value is the kitchen. "That's like the hub of the home," Jenn Todryk explains to Dallas News, "where you spend the majority of the day really because, especially with open floor plans, your kitchen is part of your main area." Kitchens have to be functional and durable enough to use every day. However, many homeowners also want these rooms to be beautiful backdrops for family gatherings and daily cooking. Depending on the extent of the renovation, a kitchen remodel can bring between a 52.5% and 71.2% return on investment.
Opting for larger cabinets or stacking cabinets so they reach the ceiling will increase the storage options in the kitchen. Plenty of storage will be much appreciated by families or anyone who cooks a lot. Similarly, increasing the amount of counter space is always a great option for kitchen renovation projects. Choosing the right materials for details like flooring, backsplashes, and counters is essential, and optimizing function should be the focus of a kitchen renovation. Opting for a durable counter material, such as quartz, can lead to a return on investment between 60% and 80%. Adding hardwood flooring can recoup about 80% of the cost.