7 Tips for Increasing Your Back Bay Home’s ROI

If you’re planning to put your stunningly designed home on the Back Bay real estate market, you’ll have a better shot at a quick sale and an excellent return on investment (ROI) if you complete some worthwhile projects and upgrades first. From updating your kitchen and bathroom to repainting and adding some high-tech features, these renovations can dramatically impact your property's final sale price.

Many of these upgrades aren’t super expensive to complete, and they’ll only make your property more desirable to prospective buyers looking for the same features and amenities you’ve installed. Plus, by updating your home and making it genuinely move-in-ready, you’ll increase your chances of receiving multiple offers at (or even above) your listing price. So take notes!

In today’s world, technology is the future. Many people looking to buy the most high-end homes want smart technology ready to go throughout the residence. After all, smart technology improves the homeowner’s quality of life and can be a significant selling point for those who value convenience.

Smart homes also tend to be safer since you can install a whole-home security system with impressive features like a video doorbell, smart door locks that activate with a touchpad or smartphone, security cameras along both the interior and exterior, and ample lighting around the property’s exterior spaces. Safety-conscious buyers will appreciate this, and having these features could put you well ahead of other sellers who don’t.

Another great upgrade with a fantastic ROI involves focusing on increasing your home’s energy efficiency. Consider upgrading to double-paned windows, adding new insulation in the attic, renovating the HVAC system, and installing new blinds or shades to more effectively insulate your home. You should also consider replacing old light fixtures with new, more attractive ones that use more efficient, longer-lasting LED bulbs. If you’re really ambitious, you could even add solar panels to generate your own electricity.

Another great way to increase your energy efficiency is to set up a smart thermostat to monitor your residence's temperature automatically and help reduce your utility bills. Energy-conscious buyers will be happy with these upgrades that help save the environment and their wallets!

Buyers of Back Bay real estate often make a beeline for the kitchen, which is one of the house's most critical rooms where sellers can ramp up the “wow” factor. Add sparkling new countertops, an intriguing backsplash, and shiny new appliances to create a culinary haven.

You can also add in some smart appliances that go hand-in-hand with other smart upgrades throughout the house and can be controlled with voice commands or via a smartphone or tablet. Among the many smart kitchen appliances are refrigerators that can automatically order groceries online for you and faucets with voice command capabilities. There are even smaller smart appliances like air fryers and coffee makers, both of which may add to your home’s ROI. The possibilities are nearly endless!

Home offices are likely here to stay, as many employees continue to work from home or follow a hybrid work model of reporting to the office only a few days a week. Buyers in the market for Back Bay homes for sale typically prefer a dedicated home office where they can have privacy and a quiet work space, since clunking down a laptop on the kitchen counter or coffee table doesn’t always cut it.

To create a successful home office, outfit a separate room or guest bedroom with a nice desk, a comfortable chair, space-saving shelving units, and adequate lighting. If there’s enough room, a sitting area nicely rounds out the look and feel of a home office.

Another feature high on buyers’ lists is an upgraded luxury bathroom. The good news is that a minor bathroom remodel may give you a better ROI than a costly, total bathroom remodel that takes the room down to the studs. It’s all in the details that really make your bathroom shine!

A minor remodel may involve replacing a dated vanity with a sleek new one and upgrading the lighting to give the room a bright, warm glow. You can also replace the shower with one that has cozy seating, a rainfall showerhead, a steam feature, and even mood lighting. To make your bathroom look more spacious, consider installing coordinated tile on your floors and walls to add more depth to the room, which is always an excellent selling point. For a perfect luxury touch, add in heated flooring, which new owners will certainly appreciate on chilly mornings.

For a fantastic upgrade with a good ROI and looks phenomenal on any home, consider adding a new front door that is well-insulated and beautifully designed. This relatively inexpensive upgrade pays off in the end, as an upgraded door can help block out the elements more effectively (and lower the utility costs in the meantime). Look for entries with a modern look and a material that’s easy to maintain and clean, such as gorgeous metal or fiberglass. To add a sense of style, paint the doors in a warm, welcoming color that will instantly catch the attention of buyers touring Back Bay homes for sale.

Yet another inexpensive, relatively simple upgrade that will increase your home’s ROI is to paint the interior. Focus on a warm, neutral color such as beige, off-white, gray, or even taupe. A new paint job that coordinates well with your furniture and appliances will look sharp to buyers with a discerning eye.

Along with the seven tips outlined above, hire a licensed real estate agent with plenty of experience navigating the real estate climate in this gorgeous, historic part of Boston. For excellent guidance on your homeselling venture, look no further than the Dylan Costello Team.

When you’re ready to list your Back Bay home for sale, let the Dylan Costello Team show you the best client services in the Boston area. They will make sure that buyers line up with offers in hand!

_{*Header photo courtesy of Unsplash}