You must research if you want to receive the most return on your investment in home renovation projects. Home renovation projects may be costly, so you’ll want to be sure you get the most bang for your buck. According to research published in Remodeling magazine, exterior replacement projects yield the highest returns.
Furthermore, renovations have the power to make you happy in your own home. Also, when it comes time to sell or refinance, upgrades add more value than others. Whether you’re just thinking about renovating or are ready to get started, here are some of the most common projects that will pay off handsomely.
1. Remodel Your Kitchen
Consider painting your existing cabinets and updating the hardware to give them a new look in the kitchen. If your countertops are old or slightly damaged, you should replace them. There’s no need to replace your appliances if they’re relatively recent and in good working order. If your appliances are ancient or in bad shape, you can replace them with a stainless steel appliance set for a few thousand dollars.
You also don’t have to buy top-of-the-line appliances. It is recommended that homeowners let their new tenants make those upmarket renovations to their liking and on their timetable.
2. Repair Your Roof
A roof in significant deterioration can be expensive to repair and is unlikely to be on any homeowner’s list of “pleasant things to spend your money on.” Because an extensive roof repair can cost thousands of dollars, it is sometimes used as a negotiating issue when selling a home. Buyers will expect to pay less if the roof isn’t fixed, as savvy sellers know. Only a few sorts of renovations, on the other hand, are sure to recoup every dollar when the house is sold.
Before putting your house on the market, you should get your roof fixed, just like any other important element in your home. Obtain an inspection from a local service provider, working with Bravo Roofing MD will assist you in determining when a roof should be replaced. A well-maintained roof is likely to yield the highest retail value.
3. Manufactured Stone Veneer
Installation of manufactured stone veneer is the best home improvement job, with a 95.6% return on investment. Manufactured stone, which goes well with vinyl siding, may help you accomplish any design style and offers a nearly limitless number of alternatives for improving the exterior of your home, including:
- Adding a touch of luxury to a doorway
- Creating an opulent patio environment
- Highlighting unique architectural features
- Adding a splash of color to your home’s exterior
4. Energy-Efficient Upgrades
Potential buyers will be more interested in an energy-efficient home because it improves the environment and saves money. Installing a smart thermostat is a great place to start, and your energy company may be willing to pay for it depending on where you live.
Because less heat or cold air escapes when you sell your doors and windows, you’ll be able to control the temperature within your home better. Additionally, changing your lighting fixtures and switching to LED bulbs might help you save money on lighting.
5. Window Replacement
Suppose you install low-E (low emissivity and energy saver) simulated, divided-light vinyl windows with a custom-color exterior finish. In that case, you might recoup roughly 69% of the cost of replacing your current windows. To keep expenses down, ensure that the external trim matches the existing ones and that the interior decoration isn’t modified. You may pay anywhere from $50 to $200 per window.
6. Basement Can Help
Basement waterproofing is one of the most important home renovations you can make to raise the resale value of your property. In many basements around the country, open interior basement structures produce moisture and radon problems. Poured concrete cellars, rock basements, and block basements all have moisture issues. Using a basement waterproofing system to keep water out of your home will allow you to make the most of every square inch of potential living space while also keeping your home structurally sound for years to come.
Consider completing your basement if your home is lacking in space. You can convert a basement into a bar, a hangout spot, or even a kid’s play area. Adding a bathroom to your basement will boost your home’s worth even further. However, instead of keeping the underground room dark, make it as light and airy as possible.
You may want to take a proactive perspective to increase your property’s curb appeal and value, but don’t overlook the small details. Upgraded hardware, cleansed walkways, fresh mulch and landscaping, a new welcome mat, and attention to little details will help you sell your property for the highest possible price.