Fremont is a picturesque city along the southeast banks of the San Francisco Bay that combines a rich history with outdoor recreation and a thriving arts scene. The area offers a glimpse into various cultures through art, restaurant scene, and local history. Visit Fremont Central Park and spend the day with your family relaxing near the stunning Lake Elizabeth, or adventure to the Aqua Adventure Water Park and enjoy a vigorous day of fun in the sun. Various trails offer breathtaking hikes with gorgeous views of the San Francisco Bay. It also provides easy access to major cities like Oakland and San Francisco. If you own a piece of Fremont real estate or are considering moving to the area, you’ll want to know how to get the most value for your home.
Purchasing a home for sale in Fremont is one of the most substantial investments you can make, and whether you plan to stay or put it on the market quickly, adding value results in a positive payoff. While asking yourself, “Will this add value?” is essential, there are several things to consider beyond this when making home improvements. One fundamental question to ask is, “Will this give me a decent return on my investment?”
What is a return on investment (ROI), though? ROI is used in homeownership to measure how much profit you’re likely to get back when you sell your home. An example would be recouping roughly 60% of the cost of a standard roof replacement when selling your home after installing a new roof. Different home projects yield different ROIs, and while most won’t give you a 100% return on investment, they’re an excellent way to increase your home’s value.
Home improvements and remodeling jobs are the only way to improve your ROI and the home’s functionality. These improvements don’t have to be substantial or take a ton of time. Sometimes, a complete renovation with a hefty price tag won’t increase a home’s value significantly more than minor improvements. No one wants to sink more capital into a project than they’ll recoup later, so consider what improvements to make. To help aid your decision, the Joe Schembri Real Estate Team has gathered the top renovations that will give you the best return on investment when making home improvements.
Major kitchen remodel
At the top of the list for improving a home’s ROI, you’ll find a complete kitchen remodel. The kitchen is a huge draw for potential homeowners and is often considered the heart of the home. Most buyers don’t want to tackle a kitchen remodel because it’s time-consuming and can be a total nightmare, especially if you’ve just purchased the home. A complete remodel involves new cabinets, flooring, backsplash, and appliances. This means buyers will likely pay more for a completed kitchen, especially with high-end finishes and upgrades.
Minor kitchen remodel
Whether you don’t want to remodel the entire kitchen or simply don’t have the time, there are minor upgrades that can help increase the home’s value. Assuming the kitchen has solid bones, it’s easy to work with the existing space to create a fresh look. Smaller tasks like resurfacing cabinets, replacing counters with granite or quartz, and adding modern hardware, pendant lighting, and trendy backsplash are great options. These are minor ways to breathe new life into the kitchen and make it look modern and luxurious.
Major bathroom remodel
Bathrooms are an excellent option for remodeling because they are important to buyers. A beautifully redone bathroom is a huge appeal to homeowners, especially if it’s the ensuite to the primary bedroom. Adding a fresh shower and spa-like tub, high-end finishes, functional storage, statement tiles, and heated floors can completely transform the space. A spa-like bathroom can also bring a significant ROI, especially if you choose luxury options.
Minor bathroom remodel
While it can make a difference, most bathrooms don’t need a complete remodel. Minor adjustments can be made to increase your ROI when you sell the home. This differs in every space but may be as simple as adding new shower doors, shower or floor tile, cabinets, or sinks. A fresh coat of paint in a neutral color and modern hardware is one of the quickest ways to add value and freshen up the space.
Landscaping
The home’s exterior and curb appeal play a significant role in your home’s value and how well it appeals to buyers. Several simple improvements will maximize your return on investment using landscaping. Small, simple tasks like adding fresh mulch, new flowers, and trees will add vibrancy and dimension, breathing new life into the area. Other tasks include cleaning up the yard of debris and giving everything a good wash. They are simple, easy to maintain, require little effort, and add a reasonable ROI.
Entry door replacement
Another great option to update the exterior and add vibrancy to your curb appeal is by replacing the entry door. Sometimes, a simple coat of paint will go a long way in making things look fresh and new. Stick to a complimentary color to enhance the home’s style. If you have an older door, consider replacing it with something that adds flair and can become a great focal point.
Deck, patio, and/or porch addition
Similar to landscaping, adding a deck or patio can create tremendous value in your home. If you already have a deck or patio, you can add greenery to instantly amplify the space. Choose planters in materials like ceramic and stone in various colors and patterns to create vibrancy and tie into the existing color scheme. Add lighting to create ambiance and give the space a warm, welcoming feeling. You want to create a usable space that buyers will love, and small touches will easily accomplish that.
Other considerations
No matter what renovations or upgrades you decide to follow through with, you’ll want to consider it carefully against the value of your home. You want to recoup the money you spend on renovations and then some, and if you’re putting more money into a house than it’s worth, you’ll lose out. A good rule of thumb is to spend no more than 5%–15% of your home’s value on projects and renovations.
Are you interested in renovating your home to sell? Contact Joe Schembri a trusted Fremont real estate agent to help you choose the best improvements for your home. Joe knows what homebuyers are looking for and is happy to answer your questions.
*Header photo courtesy of Shutterstock
