Currently, we're in a seller's market characterized by limited housing inventory. Despite this, with interest rates where they are, buyers are becoming increasingly selective about their "must-haves" and "don't wants." In a seller's market where homes can sell rapidly, it's crucial to present your home in top-notch condition for a successful sale.

Buyers are on the lookout for specific features when shopping for homes in this environment. To attract these buyers and enhance your chances of a quick sale, consider making some upgrades to your home before listing it. Here are six upgrades that offer the most significant return on your investment.

1. Bathroom Remodel

Bathrooms, along with kitchens, are commonly remodeled by sellers for good reason. A minor bathroom remodel, costing around $10,000, involves updating the room with new paint, shower doors, shower-head, vanity, lighting, and flooring. This modest investment can yield a return of 100% or more.

For a more extensive bathroom remodel, which typically costs around $25,000 and entails a complete overhaul, you can still expect returns of approximately 93% on your investment.

2. Minor Kitchen Remodel

Since the pandemic, people have embraced cooking and dining at home. This shift has led buyers to seek homes with spacious, updated kitchens with ample counter space. A minor kitchen remodel, costing between $20,000 and $30,000, doesn't require changing the layout but focuses on updates like new cabinets, flooring, backsplashes, and the addition of a center island. Typically, minor kitchen remodels yield around 80% ROI.

3. Landscaping

The old saying don’t judge a book by it cover, is most of the time not regarded with buyers when they come around. Curb appeal is crucial in the real estate market. A well-maintained yard with an inviting front porch, walkway, and colorful flowers can significantly enhance your home's exterior. A landscaping project, which usually costs a few thousand dollars, often delivers a 100% return on investment.

4. Major Kitchen Remodel

A complete kitchen makeover with high-tech appliances can set your home apart. A major kitchen remodel involves redesigning the floor plan, adding new flooring, appliances, countertops, and popular features like a pantry or breakfast nook. A major kitchen remodel can take between three to four months to complete, especially if any electrical or plumbing updates need to be made. If you do not have a second kitchen in your home, staying at a relative’s house can be very beneficial for you and the individual(s) doing the job. The least disruption to your life the better. A major kitchen remodel can cost around $50,000 - $80,000 but are almost always worth the cost, as homes that have undesirable kitchens usually get much less activity. With typically 91% ROI, it may be very well worth it for your home.

5. Basement Remodel

Finished basements are in demand for remote work or study spaces, and they offer families an escape from the new norm of spending more time at home. If your home has an unfinished basement, you have the perfect upgrade on your hands. Converting it into a livable space, with a bar and entertainment area and consider adding a bedroom and bathroom for even more value. A basement remodel, with costs averaging around $50,000, can yield a 90% return on investment upon selling.

6. Window Replacement and Hardwood Floors

With all the costs of living, one aspect can be lowered. New windows is something people look for not only for the aesthetics but also for the energy efficiency. Replacing windows can also add to the curb appeal and will look more inviting and warm when potential buyer some and take look inside your home. If new windows is something you decide to do, make sure your local realtor includes this in the properties description… “Potential buyers love to know they’ll save money on their energy bills”. New windows cost an average of $8,000 - $10,000, depending on the amount and type of windows you replace. But, you can expect typically 86% ROI on this investment.

As most people can agree hardwood floors are the desired flooring of most homes. Many buyers don’t want to live on old carpeted flooring, especially if it looks lived in. Adding wood flooring or replacing carpeted flooring, will give the home a fresh look as well as a less lived-in feel and ambiance. Typically Hardwood Floors cost around $6 - $18 per square foot averaging a price of $4,700 total. You can expect a 100%-106% ROI on this investment.

While we are still in a seller’s market, this is the time to put your home on the market. To make sure you maximize your listings potential, consider one of the previous six upgrades before putting your home on the market. When you work with an experienced real estate agent, like those at The Jacob Lewinson Group, you can choose the projects that are most likely to sell your home quickly and recoup the most of your investment.