Top 5 Home Improvements in NJ That Boost ROI for Homeowners

Attention New Jersey homeowners! If you're eager to boost your property's value, the array of choices might seem daunting. But fear not! Discovering which home improvements deliver the best return on investment (ROI) can be a game changer, whether you're gearing up to sell or simply want to relish your space more. According to the Cost Vs. Value Report*, let’s dive into the top five home improvements that can elevate your home's charm and market value!

1. Kitchen Remodel

The kitchen is the heart of the home. This makes it the star of any renovation project. A mid-range kitchen remodel, featuring upgraded cabinet finishes, sleek countertops, and energy-efficient appliances, can offer a tremendous payoff.

Cost:

• Low-End: $18,000

• Mid-Range: $70,000

• High-End: $150,000

  
  

ROI: 65-75%

Take, for example, a couple in Bergen County spent $40,000 upgrading their kitchen with quartz countertops and modern fixtures. This led to a $55,000 increase in the home's value when sold. An inviting, updated kitchen attracts buyers and enhances your daily living experience.

2. Bathroom Renovation

Transforming your bathroom can range from refreshing fixtures to a complete makeover, offering fantastic returns, especially if your bathroom is outdated. Buyers love modern, functional spaces.

Cost:

• Low-End: $12,000

• Mid-Range: $35,000

• High-End: $75,000

  
  

ROI: 65-75%

A homeowner in Morris County spent $30,000 on a bathroom redo, including a double vanity and upscale tile. They saw a 70% ROI, significantly boosting their selling potential. A contemporary bathroom can make your home irresistible.

3. Landscaping Enhancement

Never underestimate the magic of curb appeal! Landscaping can be a cost-effective improvement that delivers an impressive return. Simple investments can transform your outdoor spaces into inviting havens.

Cost:

• Low-End: $3,500

• Mid-Range: $7,000

• High-End: $20,000

  
  

ROI: 100-300%

A homeowner in Essex County spent $5,000 on landscaping, adding new flower beds and trees, and saw their property value soar by $15,000. An attractive exterior creates a welcoming atmosphere.

4. Deck Addition

Adding a deck can dramatically enhance your outdoor living space and make your home the go-to spot for family gatherings. This upgrade combines utility with visual appeal.

Cost:

• Low-End: $12,000

• Mid-Range: $25,000

• High-End: $50,000

  
  

ROI: 60-70%

A homeowner in Camden County invested $20,000 in a composite deck and enjoyed about $30,000 more at sale time. A well-constructed deck invites relaxation and is often seen as a desirable feature.

5. Energy-Efficient Windows

Upgrading to energy-efficient windows does more than just lower energy bills; it’s a win for the environment too! This upgrade attracts eco-conscious buyers and those eager to save on utilities.

Cost:

• Low-End: $4,000

• Mid-Range: $12,000

• High-End: $25,000

  
  

ROI: 70-80%

A homeowner in Hudson County upgraded to double-pane windows and saw their energy bills decrease by 30%. The initial $10,000 investment resulted in an increased home value of around $20,000.

Final Thoughts

New Jersey homeowners, prioritize home improvements that offer the best return on investment, enhancing both enjoyment and future market value. Focus on kitchens, bathrooms, landscaping, and energy-efficient upgrades to elevate appeal. Invest wisely by considering budget, preferences, and local trends to increase property value and make a smart financial decision. It is essential for homeowners to consider these statistics when planning renovations, as they can guide investment decisions and improve overall home value.

Disclaimer

The prices and return on investment (ROI) mentioned in this blog are for informational purposes only and may vary based on location, market conditions and individual circumstances. We do not guarantee any specific financial outcomes, and readers are encouraged to conduct their own research and consult with a financial advisor before making any investment decisions.

“©2024 Zonda Media, a Delaware corporation. Complete data from the 2024 Cost vs. Value Report can be downloaded free at www.costvsvalue.com.”