For many homeowners, the prospect of renovating is exciting. Not only do you get to update the look of your home, but if done right, renovations can also increase its value. But with so many renovation options available, it can be hard to decide which projects will give you the most bang for your buck. We’ve compiled a list of top renovations that will bring you the highest return on investment.

Kitchen Remodel Nothing says “new home” quite like a kitchen remodel. A full-scale kitchen remodel can cost upwards of $50,000, but smaller updates like new paint and fresh hardware can make a huge difference without breaking the bank. If you are looking for more drastic changes, consider replacing countertops and cabinets or investing in energy efficient appliances. According to Remodeling Magazine’s Cost vs Value report from 2020-2021, an upscale kitchen remodel recoups about 70% of its original cost at resale—the highest return out of all the renovations on this list.

Bathroom Remodel Similar to a kitchen remodel, updating your bathroom is an easy way to add instant value to your home. Investing in modern fixtures and finishes such as porcelain tile flooring and glass shower doors not only looks good but it also adds convenience and safety benefits as well. The National Association of Realtors reported that adding an extra bathroom or updating an existing one returns over 80% of its original cost at resale—a great return for any homeowner!

Exterior Updates First impressions are important when selling a house, so making sure that the exterior looks nice is worth the time and effort. Consider painting or staining your siding or updating your landscaping with trees and shrubs to spruce up your yard. Other exterior updates such as new windows or even adding outdoor lighting add curb appeal while also providing energy savings in the long run. According to NAR’s report from 2020-2021, mid-range projects such as vinyl siding replacement returned up to 78% of their cost at resale.

Renovations are not only exciting but they can also give you a great return on investment when done correctly. Whether it’s a minor update like fresh paint or something more extensive like a whole kitchen overhaul, there are plenty of ways for homeowners to increase their home’s value without going over budget. With this guide in mind, you’ll be able to make smart decisions that maximize your renovation investment!