Home remodeling can add significant value to a home, and there is no better way to remodel than to add value to your home. What Home Improvement Gives the Best Return on Investment? Certainly not all remodeling projects will produce the same return on investment. Here is a simple break down of the typical ROI one year after some common home improvement projects.
Bathroom Remodeling – More people than ever are shopping for a new bathroom. Remodeling can increase the value of your home by leaps and bounds when added to an appealing design. Bathroom remodeling is also a great way to add comfort and function to an outdated space. The key to a successful remodeling project is in the attention to detail and quality of workmanship put into each room. If you are planning a major overhaul of your bathroom, think hard about the type of buyers you want to attract and plan accordingly.
Kitchen Remodeling – Kitchens are one of the most important rooms in a home. Today’s buyers are looking for ways to eat healthier, stay more comfortable, and save money. Kitchens need to be modern with island work centers, flexible kitchen islands, and open floor plans. New appliances, built-in cupboards and racks, and island cabinets are just a few of the features that will help you to get the most value for your dollar when remodeling your kitchen.
Living Room – Perhaps no room in a home is as important to buyers as the living room. Most buyers spend a good deal of time in their living rooms. Make your living room a comfortable and welcoming gathering place. Update your lighting, add new furniture, and update your drapes. If you don’t have the funds to add a new floor or wall, consider upgrading the wallpaper or painting.
Home Office – Did you know that remodeling your home office can actually increase your profits? Consider hiring a cleaning service to keep the work area clean and organized. Many homeowners hire maid services to care for their homes when they are out of town. A cleaning service will save you money on having to hire cleaners, and will also increase your ROI (return on investment (roi). Office cleaning is an investment that should not be overlooked.
Repairs – Major appliances can break down or need repairs. This may help you determine if you want to do a kitchen remodel or a home improvement project. Your best bet is to wait until a problem is more of a danger than it is to start a home remodeling project. You may end up spending more money on repairs if you take on a larger job that you cannot handle right now. In addition, this decision may help you decide whether to take on a bigger home improvement project in the future.
Renovations/Repairs/ enhancements – Homeowners who are considering remodeling or improving their home will want to keep in mind that doing these types of renovations/improvements will result in increases to their resale value. However, homeowners who are not expecting a large amount of resale activity should proceed with caution. Keep in mind that there are some improvements that will not increase your resale value but will help you maintain or enhance the condition of your home. A small repair, for example, like painting a room will do little to increase your resale value.
For those homeowners hoping to increase their home value, consider hiring a home renovation company. These companies can advise you about how to make your renovations impact your home’s value while making your life easier. If you have no experience in home renovation, hiring such a company may also be an option. These companies can also point you to sources for discounts and deals on materials and services that will not only make your home renovation easier, but will increase its overall value.