There are many different benefits of remodeling your home. It gives you peace of mind by improving the areas or things that have been in need of an update, and you feel more comfortable in the house due to the home upgrades. You can even find yourself excited over the new features, curb appeal, and colors that come with a huge home improvement project.
Even better, some of these upgrades can not only improve the aesthetics of your house and offer recreational advantages but also add value to your home at the same time and give you a better chance of seeing a good return on your investment in the future.
Of course, the money you can recoup (ROI) from a home remodel will vary from job to job, and some remodeling projects like installing new swimming pools might actually make you’re your home less appealing to prospective buyers. In this post, we’ll help you dig through the details to help you find out which projects offer the most ROI.
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1. Update Your Kitchen
The kitchen is perhaps the most valuable home renovation you can undertake. Many buyers will often look at the kitchen first before they even decide to look at a home in person. Most buyers will actually want a kitchen that is already updated so they don’t have to worry about having to remodel it once they move in.
Small kitchen remodels will return around 77.6% of the money you spend, with a large remodel only returning about 58.6%. As such, you want to be strategic when choosing how much of your kitchen you want to remodel.
There’s nothing like new cabinet hardware and fronts, refreshed countertops, and updated appliances. A small version of this upgrade can do more than enough to change things up without emptying the piggy bank.
2. Bathroom Remodel
The second most popular room to remodel after the kitchen is the bathroom. Fortunately, it doesn’t have to be extreme to add value to your home. You can update the fixtures, flooring, lighting, and toilet and be able to recoup much of what you’ve spent.
Many master bedrooms come with ensuite bathrooms, and this has the highest rate of return compared to other bathrooms in the house. The average cost of a medium remodel for a bathroom is $24,420, with a subjective value of $14,600, which amounts to about 60% of your investment.
3. Update the Front Door and Garage Doors
Updating the front door to your home will generate an instant curb appeal and give the value of your home a major boost. Upgrading your drab door and swapping it for a steel unit with window panels, new hardware, and the casing will cost you around $1,800. And according to a report from the Remodeling Magazine, you will make nearly 75% of this investment back. Don’t forget that an impressive entrance will set the tone for the entire home.
You might think that the current garage doors are just fine, but also upgrading them can boost the value of your home. A garage door replacement will cost you over $3,600, though you can recoup up to 98% of that. When a prospective buyer pulls up, your home will already be making a great first impression.
4. Update Old Windows or Install New Ones
In case the windows are deteriorating or look old, you may want to replace them with modern ones. This is especially true for homes near high-traffic areas. New windows will help keep the outside noise down to a minimum, which may change the entire feeling of your home.
If you’re on a tight budget, there are some vinyl window replacements that deliver great energy efficiency. Avoid choosing new windows that clash with the siding of your home. This can make your remodel backfire and even turn off prospective buyers. For the best results, it’s wise to consult with a window specialist.
The project can cost about $19,385, with a subjective value of $13,297, which is about 68% of the initial investment.
5. Roofing Replacement
While it’s not the most exciting project to undertake, it is certainly a necessary maintenance task. It’s a big job, expensive, messy, and will often require professional help to ensure that things are done right. However, since it makes up such an essential and large part of your home, it can have a huge impact on the overall look of the house.
This makes it the perfect opportunity to change the aesthetic of things with a new color or design. But even if you choose to replace your roof with the exact same color and style as the current one, it will still look completely different with a fresh roof gleaming from above.
Be sure to spend a little time and money to upgrade the insulation of the attic during construction to help extend the life of your new roof. It’s perhaps the most important thing you can do to help make a roof last longer – it will translate into energy savings when it comes to utility bills.
If you replace your roof, you can expect to recoup about 107% of the cost when you sell. Most buyers will prefer buying a home with a new roof over one whose roof has been in service for more than a decade.
6. Refresh Your Landscape
Luscious landscaping will increase the chance of a home sale. Moreover, based on data from NAR and the NALP, an outdoor makeover can easily net you a healthy 83% return on investment. They define a landscape upgrade as installing a new natural flagstone walkway, mulching, integrating stone planters, planting a sizeable tree, and planting a handful of shrubs. On average, these will set you back roughly $6,000.
7. Implement a Lawn-Care Program
To complement this, you can also implement a lawn-care program to ensure that the plants are amply supplied with sufficient nutrients and reduce weeds. An average of six applications of weed control and lawn fertilizer will be required annually, and this will cost you about $375 for a 2,800-square-foot-lawn. These efforts can boost the value of your home by $1,000, which is a 267% ROI.
Contact Us for Your Home Upgrades
At America’s Best Choice, we are the home improvement specialists to hire for quality, low-priced products and solutions. We can assess your home to determine the most cost-effective options for updating your home. Call us today to know more about our services and schedule your free in-home consultation.