6 Home Renovations That Can Increase ROI in Your Santa Monica Home

6 Home Renovations That Can Increase ROI in Your Santa Monica Home

  • David Dippong
  • 08/9/22

Home renovations can be a tedious undertaking, especially when homeowners take on these projects unprepared. Fortunately, when done right, these improvements are not only a great way to help you enjoy your home like you always wanted to, but they can also increase the overall property value.

Yet, before you start doing any work on your Santa Monica property, consider the following six renovations that can not only help increase your home's ROI but provide you with some update ideas you may not have realized you need.

1. Modernize the bathroom

To truly get the most out of a bathroom renovation, there are certain things you need to consider before you start fixing things up in this crucial area of the home. For instance:

  • Put Repairs First: Before fixing the bathroom's aesthetics, make sure to correct the bigger issues that will have a more significant impact than changing the paint color. For example, if you see cracked tiles, mold, or leaks, these critical issues should be taken care of first. In addition, if the bathroom has problems with ventilation, taking care of it can help you list your home for a higher price when you decide to sell it.

  • Keep It Neutral: You need to remember that everyone may not appreciate your style. As a result, the best way to maximize your ROI when it comes to your bathroom is to use a neutral color pallet and a traditional design scheme.

  • Make Simple Changes: One of the quickest ways to bump your home's ROI is to make simple and inexpensive improvements to the house, such as switching out the fixtures in the bathroom, changing the mirror, or even adding some shelves. This can help create a modern vibe that, when you decide to sell your home, will bring in more potential buyers.

2. Open up the space

Today, more than ever, people want to have open space in their homes that brings with it a natural flow. That is why it is common for homeowners to take on extensive renovation projects like tearing down walls to create this space. While this can be a substantial project, open floor plans, especially in dining rooms, living rooms, and kitchens, tend to appeal to more modern buyers and can even make the overall space bigger and brighten up the area, helping you improve the home's ROI.

Thankfully, if you are not in the market for such considerable tear-downs, opening up the space does not necessarily mean you must redesign your whole layout. As long as the home can maintain its integral structural support, knocking down one wall or a part of it can still open up the area and help improve the value of your home.

3. Replace the garage door

Most people don't think of garage doors as a major home improvement. But in fact, studies have shown that replacing a garage door can result in a 97.5% ROI increase, which is significantly more than most other home projects.

This means that even if your garage door works great or you do not think there is anything wrong with it, taking a few hours to install a replacement garage door will substantially improve the value of your home. For these reasons, if you are considering this change to your home, but don't know what to do, reach out to the experts, like those at Sunny Santa Monica Garage Door Repair. These professionals can help you figure out which garage door works best for your home and take care of the whole installation process for you.

4. Upgrade the roof

Fixing or changing a roof is usually not on a homeowner's radar unless there are issues with it. Yet, if you are looking for ways to improve property value, it is a good idea to have the roof inspected, and if needed, you may want to consider replacing it. Not only can this help prevent big issues down the road with leaking, but replacing the whole roof will recover around 100% of the project's price and can result in numerous offers when it is time to sell your home.

These returns are often so high because homebuyers usually want to invest in property that is well maintained and that can help them avoid serious home improvements down the road.

5. Fix up the kitchen

In general, kitchen upgrades will let you recoup roughly 67% of the costs involved with a project. Better yet, the work that needs to be done on these kitchens does not need to be extensive. Even minor changes can have a strong impact on the ROI.

Take, for instance, the following improvements:

  • Upgrading hinges, pulls, and knobs
  • Installing new countertops like granite or quartz
  • Updating the cabinets
  • Purchasing new appliances
  • Adding an island
  • Changing the backsplash
  • Revamping the lights
  • Replacing the flooring
  • Repairing the plumbing 
If you are not sure where to start with a kitchen remodel, consider reaching out to Kitchen Bath Remodeling Santa Monica. The qualified staff here can not only provide you with some new kitchen ideas that may work well with your home, but they can even take care of the whole remodel for you.

6. Improve the flooring

The flooring in your home plays a crucial role in setting the tone for the entire home while taking a massive beating every single day. That is why it is no surprise that modernizing your floor will increase the overall value of the home.

However, before you start making upgrades to the home's flooring, you will want to consider some factors that can impact your overall return on this investment:
  • Go with hardwood floors to get the best return. More than 54% of home buyers are willing to pay more for these types of floors

  • Choose floors that work with the room's normal traffic

  • Pick colors that go with your home's style and appeal to a vast number of people, including dark charcoal black, rich brown, stone gray, off-white, or even matte off-white

  • Make sure the floors flow from room to room, as most buyers do not like floors that meet in an awkward assembly of colors or finishes

  • Let the floor help you design the rest of the home, once it is complete

Work with David Dippong and figure out what upgrades can improve your ROI

In the last few years, David Dippong has personally managed and closed 52 transactions that totaled around $30 million. As a result, not only has he gained the experience needed to take on even the most stringent real estate negotiations, but he has obtained significant insight into California real estate properties and what helps them sell.

For these reasons, no matter if you are looking to improve your home's ROI, want to invest in Santa Monica real estate, or even looking to sell your beach house in Santa Monica, David is here to help. With his experience, dedication, and drive, he can not only get you the results you want when it comes to finding the property you love, but he can help ensure you feel secure throughout the process. Don’t waste more time, money, and energy on the real estate process than you have to. Instead, contact David for a free consultation.

Connect With David

I will help you achieve your goals to buy a home, sell your home, and/or invest in real estate in any market. As a real estate advisor I will guide you through the process, whether you want to buy one home or build wealth in a real estate portfolio for your retirement. When you are willing to take the first step towards achieving your real estate goals, give me a call. I look forward to assisting in any way possible.