It’s no wonder East Tennessee has become a favorite destination for people looking for the perfect place to relocate, retire or invest. From the iconic scenic vistas of the southern Appalachian mountains and the quaint small towns nestled in the valley beneath to the area’s accessible cost of living and low tax rates, East Tennessee is earning a spot in the hearts of more and more Americans.
The area is a popular tourist destination, as well. From tourist destinations in the nearby Great Smoky Mountains to world-class zoos and historic landmarks, East Tennessee boasts millions of visitors each year. More and more people are also choosing to call East Tennessee home. In Chattanooga, a revitalized downtown and burgeoning food and craft beer scene, along with plentiful hiking and mountain biking trails nearby, has made it one of the nation’s fastest-growing metropolitan areas in the nation, with just under one million people.
In a quickly growing region like East Tennessee, it is particularly important for homeowners and investors to make smart decisions with their largest investments. Regarding their return on investment (ROI), not all home improvement projects are alike. With the red-hot real estate market of the past few years, smart investments have become more important than ever. These are a few of the best return-on-investment home improvement projects that can help homeowners can maximize their investments and get the biggest value for their home improvement dollar.
One of the quickest ways to give a home a quick bump in value is to upgrade the bathrooms. These days, homebuyers are looking beyond the basics of location and bones to amenities like high-quality bathroom fixtures and furniture. The right bathroom remodel can make a difference for a potential buyer and can bring an ROI well above the average for home improvement projects. Homeowners looking to get the most out of a minor remodel should consider vanities, fixtures, waterproofing, and fixtures as they tend to be the smartest small investments. For major overhauls, tubs, showers, countertops, and flooring are some of the best places to start.
Curb appeal can make or break a home sale before a potential client even walks in the door. From perfectly manicured lawns and beautiful new trees or shrubs to grading, retaining walls, and outdoor entertaining spaces, landscaping is one of the best ways to improve the ROI of your home for sale in Chatanooga.
Homeowners considering increasing their property’s value with landscaping should consider adding low-maintenance water features, specimen trees, new shrubbery, or replacing that cracked old concrete driveway with paving stones. However, even minor lawn repairs, such as maintaining and weeding landscaping beds and keeping shrubs and bushes trimmed and pruned, can add value to a property at a very low cost.
Once inside a home, one of the first places a potential buyer looks is going to be the kitchen. Even minor kitchen upgrades can make a major difference in terms of ROI. From new hardware to stainless steel appliances, small investments can have a big ROI if done in the right place. For many homes, the right place is the kitchen. For those looking for a major kitchen overhaul, granite countertops, new hardwood cabinets, and top-tier flooring can wow a buyer and add thousands to a potential offer.
Attic bedroom conversion
One of the best home improvement projects a homeowner can undertake is adding a new bedroom. While adding a bedroom can be pricey (think knocking out walls and putting down new flooring), an attic can often be a relatively cost-effective way to add that extra bedroom. Before pulling the trigger on that attic bedroom conversion, however, homeowners should make sure the job can be done up to code, including ensuring the space has adequate floor space and ceiling height.
Entry door replacement
Few things make a better first impression than a top-of-the-line front door, and even after a long search, many homebuyers often end up going with their first impressions of the home. As far as home remodeling projects go, replacing an entry door is a quick and easy one. Whether a homeowner chooses to have the doors installed or do it themselves, it’s something that can be done in just a few hours that can end up bringing value to a property for years to come.
Viewing a house with a new set of energy-efficient windows tells a buyer that the house has been well-loved and taken care of by previous owners. Not only can new windows add value to a home and bring a high return on investment on a home for sale, but they can also offer hundreds in savings on energy bills to homeowners who are not ready to sell.
Deck, patio, and/or porch additions
Outdoor spaces are the perfect way to add entertaining space and amenities to a home at a fraction of the cost of adding to the living space of the property. Decks, patios, and outdoor spaces can become treasured gathering spots for family and friends, wow a potential buyer, and add dollars to potential future offers.
Much like the attic bedroom conversion, few things net more for a homeowner’s remodeling dollar than adding an extra room in the basement. For the right property, the possibilities are almost limitless –– another bedroom, a game room or family room, an art studio, a home office or kitchen –– even an entire basement apartment are all good options for many properties. Like the attic bedroom conversion, however, this project will require a little planning ahead. Homeowners should make sure they have the space to accomplish their goals for the basement and make sure the space is completely waterproofed before undertaking any major renovations.
Getting an expert opinion
There are nearly countless ways homeowners can renovate and add value to their properties, but not all of them offer the same ROI. Additionally, the variability of local markets and today’s quickly changing real estate landscape make local expertise indispensable for homeowners looking to add value to their property. Gregory Depasquale of Depasquale Properties is ready to help East Tennessee homeowners get the most out of their home renovation investments.
With four years of experience in real estate and the lifetime of experience that comes from growing up in East Tennesee, Gregory Depasquale with Depasquale Properties is the right choice for expertise in East Tennesee real estate. Whether you would like to learn more about adding value to your home, getting a home valuation, or if you are ready to buy, sell or invest, call Gregory today to answer your questions and help you find exactly what you are looking for.