Looking to sell your home? Or maybe you’re just looking to complete a couple of projects that will elevate its look and feel. Whatever the case may be, you want to ensure that your home renovations increase its value and give you a great return on investment.
While some home renovation projects definitely add value, there are other projects that truly increase your ROI drastically. If that’s your end goal, then these renovations are perfect for you!
Bathroom Renovations
Bathroom renovations can be quite expensive, but you can easily expect to see about a 75% return on investment when you go to sell. Now some may opt in for a full bathroom reno; changing out the tiles, tub, and even re-designing the layout of the room. All of which will surely give you a great bang for your buck. However, small updates and changes, such as switching out the vanity with a new mirror, or updating the lighting or tub can definitely go a long way.
Kitchen Renovations
Another expensive remodel, but this project can really transform a home. Like a bathroom renovation, home owners can expect to see a huge return on investment.
Now kitchen renos can be done in many different ways. The first way, and maybe the most affordable option, is upgrading all appliances from the microwave to the fridge. The second option that many homeowners choose is updating old or outdated countertops, adding in new appliances, and replacing the tiles. Simple, yet effective changes that will increase the value. And the last option that can be done is a full kitchen remodel. This will cost you anywhere from $20,000 - $50,000 depending on the size and materials needed.
Finishing Your Basement
A great deal of homeowners will actually opt in to buying a home with an unfinished basement, as they know they’ll get a return on investment by finishing it. Here’s another project that you can expect to see about a 75% return on, and is a little more affordable than a full kitchen or bathroom remodel. Homeowners can expect to pay about $75 per square foot to complete their basement.
Upgrading All Windows
If your windows are old, you can be spending tons of money on heating and cooling costs! Updating windows not only helps the overall appearance of the home, but it also provides better installation. This is something that many home buyers tend to look at when viewing homes. So rather than turning them away, conduct this small yet beneficial project that will make your home attractive and increase its value.
Replace Your Roof and Siding
This project is definitely less costly than a kitchen reno or finishing your basement, however it will put buyer’s minds at ease knowing they won’t have to worry about replacing these items in the near future. Plus it also adds to the appearance of your home!
Make the Switch to an Smart Home
Have you ever been inside a home that has SMART technology? It’s impressive for sure, but it’s also a huge selling point as it helps provide ease, comfort, and lowers energy costs. Another simple and cost effective project, homeowners can expect to pay about $1,800 - $2,000 for the basic SMART technology package. This change will definitely make your home stand out and of course, add value.
So, whether you have a large budget to play around with or are just looking for a few simple projects that can be done to elevate your home, there’s tons of options! The first place to start is figuring out your budget and then finding out what can realistically be done within that range. Be sure to shop around for prices, get creative, and have fun! It’s time to make all of your renovation dreams come true, all while effectively increasing the value of your home.
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