The Stars Of HGTV's Unsellable Houses Share When To Avoid Big Renovations
If you have ever watched HGTV's "Unsellable Houses" — or any renovation show — and wanted to take a sledgehammer to that wall separating your kitchen from the rest of the house, we can't blame you. However, before you get into big renovations, you may want to slow down to listen to what Leslie Davis and Lyndsay Lamb have to say about when to avoid significant renovations. If you are selling your house and want to maximize your return on investment (ROI) through renovations, do your homework to ensure you are in a strong seller's market before going beyond cosmetic upgrades. If current market conditions favor buyers, keep your pre-sale investment to a minimum.
Big renovations often aren't good short-term investments. For instance, painting and refacing cabinets have different ROIs. Plumbing and electrical work are among the most expensive home repairs, and often go unnoticed by buyers but are often needed when you start moving walls and rearranging floorplans. However, doing things like upgrading your front (or garage) door, siding, or giving your kitchen and bathrooms a not-too-expensive facelift can have a big impact on your home's resale value and get you more of your money back.
Small projects that enhance curb appeal and have a big ROI
Leslie Davis and Lyndsay Lamb have many crucial tips for sellers, but not over-investing for the market is a crucial one. Instead, consider investing in curb appeal as a great way to boost your ROI. Whether you're looking to make a good first impression or add overall value to your home, curb appeal is important. Luckily, two projects that have a big impact on your curb appeal also have amazing ROI. Jobs like replacing your garage door and your front door both typically return close to 200% of their cost, according to the Journal of Light Construction's 2024 Cost vs. Value Report. This means you make every penny you invest back — and then some. Front doors made of steel are an especially good investment as they are also energy efficient.
If you think the front of your house needs a bit of freshening up, adding some stone veneer may be a good way to go, as it can return more than 150% of its value. Replacing vinyl siding can also provide a good ROI, but not quite as impressive as adding stone to the facade of your house. If that's not in the budget, something as simple as tidying up your landscape and adding some colorful flowers can help boost your curb appeal.
Minor kitchen and bathroom upgrades
Real estate agents frequently tell sellers that kitchens and bathrooms sell houses. You may be ready to rip out all your cabinets and fixtures to follow that advice, but it's smart to slow down before you get out the sledgehammer. A minor kitchen update with materials that aren't too expensive will typically get you more bang for your buck. Moving cabinets — and possibly plumbing and electrical — won't be worth the investment. Instead, leaving them where they are and giving them a facelift while updating appliances, counters, and floors with mid-range materials will provide a 96% ROI, while doing a more costly, major renovation will only get you about a 50% return on your investment.
A similar midrange bathroom remodel will get about 73% of your investment back. Giving your cabinets a modern facelift can be as simple as adding paint, or you can reface cabinets without breaking the bank. Changing out faucets and hardware is also an easy, inexpensive was to update the looks of these rooms and create value for buyers without overspending.