5 Ways to Increase ROI for Your Hawaii Kai Home

5 Ways to Increase ROI for Your Hawaii Kai Home

  • Agora Hawaii
  • 03/7/23

Increasing a home’s ROI can be done in a number of ways. When deciding which projects to start, always consider the neighborhood you live in and buyers' expectations in the area. Hawaii Kai attracts a mix of young families, empty nesters, and luxury buyers. The best way to navigate different local interests in the area is by partnering with a local agent. They’ll have an understanding of projects and steps to take that are worth your while. To increase your home’s ROI, utilize these five tips.

1. Make repairs

A home’s condition has a large impact on its value. By repairing issues with the home, sellers replenish the value and decrease the chances of a prospective buyer’s offer falling through. In Hawaii Kai, common issues are a result of its wet and tropical climate. Watch out for water damage, poor drainage, eroding soil, or plumbing issues like leaking and rusting. Tending to small repairs is just as effective. Create an aesthetically pleasing and functional home by greasing hinges, filling holes in walls, and making sure everything works as it should.

2. Utilize all spaces

Areas like Hawaii Kai are geographically limited by natural barriers like the Pacific Ocean. As such, usable space is a valuable commodity when considering a home’s value. To bump up a home’s ROI, increase the size or number of areas that buyers want. This may mean knocking down a kitchen wall to create more space to cook or host. It also includes purchasing extra storage like shelving and cabinets for a bathroom or hallway.

Also consider how unused or untraditional spaces in the home can be utilized. A neglected attic that hasn’t been maintained may negatively impact your home’s value. On the flip side, an attic that’s made into a guest bedroom or office is something that entices a buyer. Make sure your home’s spaces are clearly defined and offer a purpose that buyers find advantageous.

3. Home renovation projects

A home renovation project can be scaled to any degree to match the correct demographic. For the most luxurious estates in Hawaii Kai, there’s more room for extravagant additions. A home designed for a growing family may feature renovations of a more modest scale. Here are a few high-ROI projects that local buyers love.

Bathroom remodel

A minor bathroom remodel is one of the best home renovation projects a homeowner can make. With an estimated ROI of 102%, people profit from what they put in. The distinction between minor and major bathroom remodels is significant, as the latter has a (still high) ROI of 93.2%. Most buyers searching for homes are satisfied with a refreshed look to a bathroom. This is easily accomplished by adding a fresh coat of paint, replacing hardware, and changing out a showerhead. For a more ornate renovation, incorporate additions like heated floors, soaking tubs, and large vanities.

Kitchen remodel

A minor kitchen remodel is also popular with buyers and enjoys an ROI of 98.5%. The kitchen is an integral part of the home, used on the daily to cook and socialize with others. Make sure it’s up to par with buyer expectations by updating appliances, repainting cabinets, and increasing light. This makes it a welcoming space. Like bathroom remodels, a kitchen project can also be more elaborate. Go all out by changing the layout, replacing cabinets with modern iterations, and utilizing quality materials for new countertops and flooring.

Outdoor additions

In places like Hawaii Kai where the environment is a major pull for buyers, outdoor additions are highly valued. Make the most of the temperate climate and water views by revamping or adding spaces like a front porch, deck, patio, or outdoor kitchen. Doing so increases your home’s square footage and provides another place to lounge and socialize. Outfit areas with overhead covering and multi-level lighting suitable for year-round use. Additions like a pool, built-in grill, and firepit can also appeal to luxury buyers.

4. Increase curb appeal

A home’s curb appeal is the first impression locals and buyers have of your property. A poorly maintained exterior can decrease a home’s perceived value or present safety hazards if neglected. First, tend to landscaping by trimming back bushes and trees, mowing the lawn, and pulling weeds. Make sure branches don’t encroach too closely around or above your home.

Then, freshen up the exterior by power washing the walkways and siding. If the front door is looking weathered, repaint it or replace it with a modern selection. If wooden steps lead up to a front porch, make sure they aren’t worn from rain or use. Homeowners can also replace siding with high-ROI and durable options like vinyl or stone veneer. For extra crisp lines in your home’s exterior, consider replacing windows for a smudge-free look.

5. Energy-saving additions

Energy-saving additions are highly valued for their functional and practical abilities to maintain a home at a lower cost. Gadgets like smart thermostats manage electrical usage, lowering utility bills. Switching out light bulbs for energy efficient versions is another quick way to bump up ROI. Energy efficient windows help manage a home’s environment, letting less heat in during the summer months and less cold in during the winter. Homeowners can also replace appliances with energy-efficient options for a low-cost, high-functioning home.

Increase your home’s value with these tips

To increase your home’s ROI, try out one of the five tips above. A functional home is a valuable home. Complete big and small repairs to bump up ROI. Also consider projects with a high return, such as a bathroom or a kitchen remodel. If you’re unsure about which step to take first to increase your home’s value, work with a local agent like the professionals at Agora Hawaii. They have a complete understanding of buyer trends in the area and homes that are comparable to your own.

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Finding the right home or attracting qualified buyers is an easy process when working with Agora Hawaii and our team of expert real estate agents. We simplify the sales process by giving you the information, tools, as well as professional recommendations to help you achieve your goals.

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