8 Home Improvement Projects That Pay Off Big

Though it may not be their primary purpose, our homes are our biggest investment and, when its time to sell, its smart to optimize the return on that investment.

With the real estate market on a steady climb back to solid ground, more people are feeling comfortable enough to explore what options they have in the current market. If youre flirting with the idea of listing your home, its important to make sure your home outshines the competition.

Here are eight home improvement investments that offer sellers the highest return:

A coat of paint gives you a lot of bang for your home improvement buck. With premium brands costing about $35 a can, painting a room is economical and a project that most folks can handle without hiring a contractor.

If youre selling, focus on rich neutral colors inside your home. Its OK to push beyond the standard colors of builders beige and off-white. With a little experimentation and a keen eye, browns, greens and grays can become part of a contemporary neutral color scheme that will highlight the best features of your home and impress potential buyers.

Replacing the siding on your home not only improves its appearance, it can boost energy efficiency too. If you choose vinyl or other siding products with permanent color, gravitate toward neutral colors that will still be classic year after year. According to Angies List, a $10,000 siding investment can return an 80 percent return on investment or more.

Few things turn off buyers faster than the smell of a damp basement. If your homes basement is prone to moisture accumulation, leaks or flooding, call in a professional. Perhaps a simple sealant or patch can solve the problem without a huge budget impact. (If a new exterior drainage system is required, that could become pricey.) Though a finished basement will help sell a home, the single most important improvement you can make to the basement is creating an environment thats clean, dry and ready for further upgrades. But if you do want to go all out, a full basement remodel costs about $60,000 and will give sellers a 70 percent ROI, according to Remodeling Magazine.

Its true: Buyers really do focus on kitchens and bathrooms, and upgrades in these areas pay off consistently. As with any remodeling project, homeowners can choose the level of time, expense and energy they want to devote to a kitchen remodel. If youre on a tight budget, keep things simple. Make sure that appliances are in good working order, countertops arent chipped or stained, the walls have a fresh coat of paint, and basic fixtures like lights and faucets are updated. More extensive renovations that include new cabinetry, floors, granite countertops and stainless appliances can recoup nearly 69 percent ROI, according to Remodeling Magazine.

Like kitchens, bathroom upgrades provide a solid return, typically 68 percent to 78 percent ROI for a mid-range bathroom remodel, according to Real Simple Magazine. If your budget is limited, try cost-conscious solutions like resurfacing an existing tub or sink, installing new laminate flooring, upgrading faucets, adding a deluxe shower head, or splurging on a glass tile backsplash. Small improvements done in a classic and well-coordinated style can make a big impression.

Decks provide an attractive transition between inside and outside. Especially for smaller houses, well-designed patios and decks can provide much-needed extra space for dining, entertaining and relaxing. According to CNBC, deck additions in the $15,000 range average a 73 percent return on investment.

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8 Home Improvement Projects That Pay Off Big