Renovating your home can bring sentimental and financial value to your property, no matter which projects you undertake.
Although all home improvements can make your living space more comfortable and increase your property’s value, certain upgrades hold more value than others.
This guide will help you identify the top 3 home renovations that can increase your home’s value and recommend where to obtain them.
A kitchen remodel is one of the most popular home renovation projects that add value to a home. Not only does it make the kitchen look and feel more modern and stylish, but it can also increase the value of your home by up to 20%.
If you’re thinking of doing a kitchen remodel, there are a few things you need to keep in mind.
The ROI Of A Kitchen Remodeling Project
The amount of return on investment (ROI) you can expect from a kitchen remodeling project depends on factors such as the remodel you choose, the materials you use, and the location of your home.
Kitchen remodels usually have a high return on investment. According to a survey conducted by Houzz, homeowners who remodeled their kitchens received an average of 81% of their investment back when they sold their homes.
Homeowners can expect to receive a resale value of $810 for every $1,000 spent on a kitchen remodel when they sell their home.
There are several reasons for the high ROI of kitchen remodels:
Remodeling your bathroom can increase your home’s value by up to 15%. It’s a great home renovation project to consider.
There are a few things you need to keep in mind when planning a bathroom remodel.
The ROI Of A Bathroom Remodeling Project
Compared to other home renovation projects, including kitchens, the return on investment for a bathroom remodel is usually higher. This is due to the fact that a bathroom is often considered one of the most essential and frequently used rooms in a home, and making it both attractive and functional doesn’t necessarily require extensive upgrades.
Typically, homeowners can expect a return on investment (ROI) of more than 70% if they complete a bathroom remodel before selling their home. In other words, for every $1,000 spent on the remodel, homeowners can expect to recoup about $700 when they sell the home.
Remember, we’re specifically discussing the main bathroom as a home renovation project. However, other bathrooms, such as powder baths, guest baths, or second-floor baths, can also be worthwhile remodeling projects to consider.
There are several reasons for the high ROI of bathroom remodels:
Remodeling projects are carried out with expertise, so they’re not a great option for the average DIYer. You’ll need to mess with electric wiring and plumbing, install new floors, and perform a series of other tasks best left in the hands of experienced contractors.
From painting to installing trim work, renovation project tasks can be tackled by a motivated homeowner with a bit of time and skill. While checking your local regulations is important, many communities allow unlicensed homeowners to take on certain renovations.
Just be sure to leave the heavy-duty projects, like pouring a new foundation or framing a roof, to the pros.
The ROI Of A Basement Remodeling Project
Remodeling your basement can significantly increase the value of your home, potentially up to 30%.
Typically, after finishing a basement remodel, homeowners can anticipate an ROI of more than 70% when they eventually sell their home. To clarify, this means that for every $1,000 spent on the remodel, homeowners may expect to recoup about $700 when they sell the property.
Younger buyers often consider old basements as a waste of space and may request a lower price. However, remodeling the basement can add extra living square footage that can benefit you even if you’re not planning to sell the property.
Other Home Renovations That Add Value
Here are the top 3 home renovations that can increase the value of your property. It’s up to you to decide what to do with this information, but it’s recommended that you take action based on these insights.
Our services come with cost-effective solutions, affordable prices, a smooth and fast remodeling process, and exceptional customer service to make your experience with us unforgettable.
Call us today at (260) 316-4537 to find out more about home renovations that add value to your home, or request your free quote and get your project started right now!