Investing in home improvement projects can have a huge return. Good decision-making and planning will add value to your home, whether the goal is to create a more enjoyable living space or to put the house on the market.
Many homeowners who plan to be in their homes for a while have thought about updating and customizing it to make it more enjoyable, comfortable, and to fit their family’s current living needs better. Still, they had concerns about their ROI (Return on Investment) when they decided to sell.
According to the Better Home and Garden article, 7 Renovations That Will Increase Your Home Value, Here are the best home renovations for potentially raising the resale value of your home: 1) Create an Addition; 2) Redo Your Kitchen; 3) Renovate a Bathroom; 4) Update Your Home’s HVAC; 5) Amplify Outdoor Living Space; 6) Make Your Home More Accessible, and 7) Update Your Light Fixtures.
It pays to know what projects deliver the highest ROI. A recent National Association of Home Builders (NAHB) survey of remodelers revealed what improvements you and family members can enjoy now would give you a nice ROI and make your home more appealing when your house goes on the market.
Smart Remodeling Will Add Market Value
Market data showed that small, smart remodels reward homeowners with a better return on investment. Here are five of the most common remodeling jobs:
A minor kitchen remodels can improve the look and utility of the space without costing a bundle and can yield a 75 percent return. Consider is replacing backsplashes, cabinet fronts, countertops, and flooring. Installing low-flow faucets and energy-efficient appliances can reduce water and energy expenses in a heavily used room.
Payback on remodeling a bathroom can reach 65 percent with new fixtures, tile, toilet, vanity, and lighting. Low flow toilets consume less water and can decrease the monthly water bill.
Whole House Remodel
Repairs and replacements of old components and the desire for upgraded amenities were cited as the top reasons homeowners hired a remodeler. Evaluate the use of the entire home to see how full home remodeling would best fit your family’s needs and lifestyle. Re-purposing spaces can better use the home’s square footage and equity rather than moving to a new home and mortgage.
Room additions have become increasingly popular in the last five years. Expansions are added for various reasons, including changing the number of people living in the home, multi-generational living, a desire or need for more space, or increasing the home’s value. “Make the smartest investment in your home by hiring a professional remodeler.”
Window & Door Replacement
Updating windows can also return a solid portion of the investment (73 percent for wood frames and 71 percent for vinyl). New, energy-efficient doors and windows also help reduce home energy leakage and bring down heating and cooling bills.
More projects will increase the value of your home. According to the Cost vs. Value Report, projects with the most ROI were curb appeal projects done in front of your house. For example, the garage door earned you 97.5% of your money back. Manufactured stone veneer had a 94.9%. While only yielding a 60.9% ROI, Metal roofs are predicted to increase.
Make the smartest investment in your home by hiring a professional remodeler. They will help you stay on budget, solve remodeling challenges, and provide a higher-quality service.