Here Are the Renovations You Can Make With the Largest Return

The Weekly Recap

Good morning and happy Friday! Hope your tax day wasn’t too awful this week. Almost 25% of New Yorkers are slated to inherit their NYC home, tariffs continue to impact markets yet have increased retail sales growth. The federal government has taken control of the Penn Station rebuild away from the MTA Katy Perry went to space and the next big bubble could be BNPL Coachella Tickets.

If you missed last weeks newsletter Stocks May Be Riding the Elevator Down, But NYC Real Estate Is On the Way Up, you can read that through the link.

Here Are the Renovations You Can Make With the Largest Return

Renovating your home before listing it on the market can be a strategic—but sometimes risky—move. While many buyers appreciate a turnkey property, renovations often reflect the personal taste and style of the seller, which may not resonate with everyone. On the flip side, many buyers struggle to see a home’s potential and can’t look past outdated features.

So what’s the smarter play when preparing to sell—renovate or leave it as-is? The answer lies in knowing which upgrades offer the best return on investment. According to a recent report from the National Association of Realtors and the National Association of the Remodeling Industry,

What Buyers Want Most:

• Kitchen upgrades – 48%

• New roofing – 43%

• Bathroom renovations – 35%

• Fresh interior paint – 32%

• Full kitchen remodels – 26%

While the majority of buyers aren't looking for a fixer-upper, 56% say it's very important that a home doesn’t need any major repairs.

Renovations That Deliver the Highest ROI:

• New front door – 90%

• Closet renovations – 83%

• New vinyl windows – 74%

• New wood windows – 71%

• Basement converted to living space – 71%

NYC-Specific Tips: Boosting ‘Curb Appeal’ in an Apartment

Now, in New York City, where most homes are part of co-ops or condos, large-scale renovations aren’t always feasible—or allowed. That said, small upgrades can still make a big difference. Here are some low-lift, high-impact ways to increase your apartment’s appeal before listing:

• Fresh Paint: A neutral, fresh coat of paint instantly brightens a space and helps buyers envision themselves living there.

• Kitchen Touch-Ups: Swapping outdated cabinet hardware, upgrading light fixtures, or refinishing countertops can modernize the space without a full gut renovation.

• Tidy Entryway: Make sure the hallway leading to your apartment is clean and inviting. If you can, coordinate with neighbors or your building to keep shared areas clean.

• Front Door Polish: A freshly painted or clean apartment door with polished hardware can elevate a buyer’s first impression.

In a competitive market like NYC, it’s these subtle, thoughtful improvements that can make your listing stand out—without breaking the bank to do so.

Market Performance

Here are how some other indexes and asset classes have performed as of YESTERDAYS opening bell.

NYC Market Update

Here is a view of new inventory that has come onto the NYC market over the past month as well as newly signed contracts in Manhattan.

Mortgage Rate Update

The 30-year fixed-rate mortgage expectedly ticked up for the first time in weeks as rates remained under 7% for the thirteenth consecutive week. YoY rates are 30 basis points lower today than at the same time last year while purchase demand is up 13% over the same time period, a clear indication that this years spring homebuying season is off to a stronger start.

News You Can Use

• Bessent Says Treasury has Big Toolkit If Needed for Bonds Bloomberg

• Why the IRS Will Struggle With Your Tax Return This Year Bloomberg

• Feds Take Control of Penn Station Rebuild Gothamist

• Trump Trade Team Chases 90 Deals in 90 Days Reuters

• Powell Indicates Tariffs Could Pose a Challenge for the Fed Between Controlling Inflation and Boosting Growth CNBC

• Tariff Jitters Spur Fastest Retail Sales Growth in Two Years Bloomberg

• A Growing Share of New Yorkers Are Set to Receive- Not Buy- Their Homes Bloomberg

• This NYC Apartment Building Is Paying People to Party Together NY Post

• Even Levitating In Space, Katy Perry Still Manages to Get Dunked On NY Times

• As Concert Tickets Soar, More Than Half of Coachella GA Attendees Are Buying Tickets Through Payment Plans Billboard

• 10 Great Restaurants To Visit In the West Village No Matter Your Budget Gothamist

The Deep Insight

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