Best ROI Home Improvements for Your Home in Corona del Mar

May 16, 2024
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In the upscale enclave of Corona del Mar in Newport Beach, California, homeowners are continually looking for ways to enhance the value of their properties. Known for its stunning ocean views, chic lifestyle, and high-end real estate market, even small improvements in this area can lead to significant returns on investment (ROI).

Whether planning to sell soon or simply want to increase your home’s market value, certain home improvements have proven more beneficial than others. Here’s a guide to the best ROI home improvements tailored for Corona del Mar homeowners.

1. Kitchen Remodeling


A modern, well-equipped kitchen is a crucial selling point in Corona del Mar, where culinary spaces become a central hub for entertainment and relaxation. Investing in high-quality materials such as quartz countertops, custom cabinetry, and professional-grade appliances can significantly boost your home's appeal. Opt for a design that complements the coastal aesthetic with light colors, natural wood elements, and ample lighting. The ROI for a kitchen remodel here can range from 60% to 80%, depending on the extent of the renovation.

2. Bathroom Upgrades


Luxury buyers expect luxurious bathrooms. Upgrading to modern, high-end fixtures—think rainfall showerheads, freestanding tubs, and heated floors—can transform an ordinary bathroom into a spa-like retreat. Using materials like marble for vanities and tiling can also add a touch of sophistication that resonates well in the Corona del Mar market. These upgrades typically offer a 50% to 70% return, especially when they enhance an en-suite master bathroom.

3. Enhancing Outdoor Living Spaces


Corona del Mar's climate is perfect for year-round outdoor living. Improving your home’s outdoor areas by adding or upgrading decks, patios, or even outdoor kitchens can offer substantial returns. Consider integrating seamless indoor-outdoor living spaces that feature high-quality outdoor furniture, fire pits, and an impressive landscape design to attract discerning buyers. ROI can be particularly high in this category, sometimes as much as 100% depending on the uniqueness and usability of the space.

4. Eco-Friendly Upgrades


Energy efficiency is increasingly important to today’s luxury homebuyers. Installing solar panels, high-efficiency windows, and advanced HVAC systems not only reduces utility bills but also appeals to environmentally conscious buyers. In a state like California, where sustainability is a growing priority, these upgrades can increase your home's marketability and fetch an ROI of about 60% to 90%.

5. Adding or Enhancing Living Space


In areas with premium land values like Corona del Mar, adding square footage can significantly increase a home’s worth. Whether it’s converting an attic into a guest room or adding a second story, more living space generally translates to higher property values. However, it’s important to ensure that any additions are in line with the existing architectural styles and neighborhood norms to maximize ROI, typically around 50% to 75%.

6. Smart Home Technology


Integrating smart home technology—such as advanced security systems, smart thermostats, and automated lighting—can make a property stand out in the tech-savvy Southern California market. These modern touches are not just about convenience; they also enhance the security and efficiency of the home, traits that are highly valued in high-end markets. The investment in smart technology can yield an ROI of approximately 50% to 65%.

7. Exterior Makeover


First impressions are crucial, and the exterior of your home is the first thing potential buyers will notice. Investing in high-quality exterior paint, sophisticated landscaping, and a welcoming front door can significantly boost curb appeal. In a picturesque area like Corona del Mar, where aesthetics are paramount, these improvements can provide an ROI of 75% to 90%.

8. Flooring Upgrades


Replacing old carpets with hardwood floors or high-quality tiles can dramatically change a home’s look and feel. Floors are one of the first things buyers notice, especially in open-plan homes typical of the Corona del Mar area. Opt for light-colored wood or stone to enhance the airy, beachfront vibe. This upgrade can lead to a 70% to 80% return on investment.

Conclusion


In Corona del Mar, where luxury and lifestyle reign supreme, making the right home improvements can significantly increase property value. By focusing on high-impact areas like kitchens, bathrooms, and outdoor spaces and embracing eco-friendly and smart home technologies, homeowners can enjoy their living spaces more and maximize their investment when it comes time to sell. With thoughtful planning and strategic upgrades, your home can stand out in this competitive market, ensuring both immediate enjoyment and long-term financial gain.

Take the first step towards achieving your real estate goals in Corona del Mar by partnering with Casey Lesher, the local real estate expert. With his in-depth knowledge and experience in the market, Casey is your go-to resource for buying or selling your home. Contact Casey Lesher today to learn more and begin your journey to real estate success in Corona del Mar.

*Header photo courtesy of Casey Lesher



Casey Lesher

About the Author

Casey Lesher

Casey Lesher’s natural aptitude for the real estate industry has formed a compelling distinction in articulating value, not just features, and has consumers repeatedly seeking his expertise and acumen.

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