Top 10 Home Improvement Projects with the Highest ROI in Eastern Lorain County
Investing in home improvement projects is one of the best ways to increase the resale value of your property in Eastern Lorain County. Not only can these upgrades make your home more functional and appealing, but they can also provide a significant return on investment (ROI).
The housing market in Eastern Lorain County has been on the rise in recent years, with home prices increasing steadily. For instance, Lorain County’s median home price has seen significant growth, increasing by nearly $20,000 from 2023 to 2024. This increase mirrors real estate trends seen across the nation.
Even though Rocket Money reports this is a seller’s market right now, homeowners can still look for ways to get the best bang for their buck and ensure their home sells for as much as possible.
At Renew CLE, we want to help ensure your Ohio home sells for what it’s worth. In this article, we will cover the top 10 home improvement projects with the highest ROI in Eastern Lorain County, helping you maximize your property’s resale value.
Let’s dive into these home renovations.
1. Exterior Painting
A fresh coat of exterior paint is one of the easiest and most cost-effective ways to boost curb appeal. It’s something people immediately notice, and you can bet they’ll pay attention if the paint is chipped, peeling, or faded.
In Eastern Lorain County, where homes experience all four seasons, regular outdoor painting also helps protect your home’s exterior from the elements, such as snow, rain, and wind.
According to a survey from HomeLight, the estimated return on investment (ROI) for exterior painting ranges from 51% to 55%, making it a worthwhile project for Ohio homeowners looking to boost their property’s resale value. Just be sure you’re investing in quality, weather-resistant paint to ensure longevity and appeal.
2. Kitchen Remodel
The kitchen is the heart of the home, and its condition can make or break a sale. Upgrading your appliances, renovating countertops, adding a backsplash, replacing cabinets, installing hardwood floors, or incorporating an island can dramatically modernize the space.
With the growing population in Eastern Lorain County, potential buyers are on the lookout for homes with updated, functional kitchens. The highly rated local schools and safe environment are drawing many families to the area, and they want kitchens that will suit their needs.
According to a 2023 survey from Remodeling Magazine, a major kitchen renovation or upgrade has an average ROI (return on investment) of 31.7%, while a minor kitchen remodel might reap even more (up to 85.7%!).
3. Bathroom Remodel
Bathrooms are one of the most scrutinized areas by homebuyers, and therefore, are one of the first areas we recommend that homeowners focus on updating.
Simple improvements like replacing outdated fixtures, upgrading to modern vanities, or adding more storage can make a significant difference. Buyers look for functionality, practicality, and a fresh look.
According to Remodeling’s “Cost vs. Value” 2022 report, a bathroom remodeling project can recoup around 53% to 58% of the cost.
Some of the most significant factors in a bathroom remodel include updating worn-out items, modernizing fixtures, and creating a more functional space. Don’t just think about creating your dream kitchen ー think about what future buyers will want.
4. Basement Finishing
Did you know it’s estimated that up to 18% of large homes have unfinished basements? That’s a big missed opportunity to make more money when it comes time to sell your Ohio home, especially considering Ohio’s proclivity for tornadoes and bad weather.
Finishing your basement is a great way to add valuable square footage to your home. Whether you transform it into a living space, entertainment room, tornado shelter, or extra storage, this project can substantially increase your home’s livable space.
The 2022 Remodeling Impact Report included basement conversion as a top interior remodel in terms of ROI, with an estimated 86% of the project cost recovered when it’s time to sell. Just as Bank Rate reports, homes are valued and priced by their livable square footage, so if you can add to that, your wallet will thank you.
5. Outdoor Updates
Outdoor living spaces have become highly sought after by Ohio buyers looking to enjoy their homes year-round. Improvements such as adding a deck, patio, or landscaping can enhance curb appeal and provide additional usable space.
In Lorain County, many homebuyers are on the hunt for a nice front porch and/or patio, exterior lighting, and good landscaping. Look into all of these to determine how much they could add to your home’s resale value.
Keep in mind that even something as simple as investing in a lawn care service can improve your home’s outdoor appeal, generating an ROI as high as 217% according to the National Association of Realtors.
6. Roof Replacement
An ugly, ineffective, or outdated roof is one of the most significant deterrents for potential buyers. Signs like leaks or missing shingles can be red flags that suggest major home renovations are needed.
Replacing an aging roof with high-quality materials not only boosts your home’s appearance but also provides better protection from the elements. Ohio’s weather ranges from hot, humid summers to cold, snowy winters, which can really put your roof to the test year-round. As the roof ages, it’s more susceptible to leaks, which can result in issues like mold, mildew, and wood rot during the damp summer months.
Although it can cost between $6,000 and $12,000 to replace your roof, doing so has a great ROI (up to 68%, according to Zillow). Consider replacing your roof if it has experienced damage from Ohio weather or if it hasn’t been replaced in 15-20 years.
7. Attic Insulation
Proper insulation can significantly increase your home’s energy efficiency. In Eastern Lorain County, where winters are cold, having adequate insulation reduces energy costs, prevents moisture buildup, and extends the life of your roof.
Angi reports that middle states such as Ohio can reap up to 17% in annual savings with improved insulation, and many homebuyers will pay a pretty penny for a home with pre-installed insulation home renovations.
8. Window Replacement
Replacing old windows isn’t just about preserving aesthetics ー it’s also crucial for energy efficiency. Modern windows help maintain indoor temperature, reduce energy costs, and improve natural lighting.
According to the U.S. Department of Energy, heat gain and heat loss through windows are responsible for 25%–30% of residential heating and cooling energy use. Therefore, window replacement is something most Ohio homebuyers care about (and a good place to generate a strong ROI).
9. Garage Door Replacement
A new garage door can significantly improve your home’s curb appeal and resale value. Not only does it enhance the home’s appearance, but insulated garage doors also improve energy efficiency and reduce noise.
Zonda Media’s 2024 Cost vs. Value report shared that many homeowners can experience a whopping $194% return on investment from garage door replacements, making this one of THE best exterior replacement projects to consider.
10. Entry Door Replacement
Your home’s front door is the first thing buyers see, and upgrading it can significantly impact their first impression and future resale value. Whether you choose an energy-efficient door or one with decorative elements, this simple improvement can offer a high ROI.
Modernize states that the average cost of a door replacement project ranges between $500 and $1,800, depending on the type of door you select. A high-quality, beautiful door can add thousands of dollars to your property’s resale value, especially if installed carefully and correctly.
The Wrap-Up: Strategically Boosting Your Resale Value
The Eastern Lorain County real estate market is thriving, with the Chronicle-Telegram sharing estimates that property values will rise by an average of 31% in the next year. Although sellers currently have the upper hand, you still want to do everything in your power to improve your home’s worth.
From a kitchen remodel to an entry door replacement, these home improvements can significantly increase your property’s resale value and help you secure a better sale price. Think about what your home needs the most and what will offer the best value in the long run.
Target the Best ROI Home Improvements With Renew CLE
Ready to transform your home and increase its value? Contact Renew CLE today to get started on your next home improvement project.
We’ve completed over 300 home improvements in the Avon, Ohio, area, and we know precisely what to recommend to local prospective sellers. We’ve also witnessed firsthand the updates that have the biggest ROI (and the lowest), and we provide guidance to homeowners accordingly.
Whether you’re interested in a large or small remodeling project, we’re here to help.
