Many homeowners find themselves in a situation where they intend to raise the value of their property by remodeling or somehow improving the property’s grounds in some way. Whether they intend to sell or simply increase the equity in their property, homeowners need to know which projects they need to tackle in order to make the most in return.
As with just about everything, each homeowner’s situation and property is unique. If you are looking to get the most return on your investment, however, there are four remodeling projects that, if you have been needing them done anyway, can really boost the value of your property and give you a nice return on your investment.
Remodel on the outside with new landscaping
You might be wondering why a kitchen and bathroom remodeling plan isn’t at the top of the list of best projects to give you the biggest return on your investment.
While it might come as a surprise to some, many people already know that the outside of a home is the first thing a potential buyer will see. Even if you do not intend to sell, you still can see that landscaping can make quite an impression. Adding some mulch, a few flowering shrubs, and perhaps an interesting flagstone walkway will give your home a great deal of what is known as curb appeal.
At an average cost of around $4,750, you could estimate a return of $5,000. That is a return of 105%. The next time you poke your head out the window, take a look around and see if your land could use some landscaping.
The kitchen and bathroom remodel is sometimes done at once and other times it is done separately. Bathroom remodelers and kitchen remodelers both know what is simply trending and what is a style that will last. Bathroom remodelers will also tell you exactly what you need not only to have a bathroom that looks beautiful but also what you need for a bathroom that will save you money.
Both the kitchen and bathroom remodels are very worth the money. Both remodel jobs are showing a return of slightly great than 100%. Bathroom remodelers are also well aware that a bathroom addition could be a good move. They return roughly 84% of their investment.
Keep a Lid on Things With a New Roof
A new roof is not a project to be put off. If you are missing shingles, have shingles that are curling up, your energy bill is high, you notice stains on your ceiling and walls or any combination of these, then you are in the market for a new roof. The good news is that you will see a healthy return for this project.
Especially if you see yourself selling, having a new roof will be a very attractive item when negotiating the selling price. For an average cost of around $7,500 you could expect a return of approximately 109% or $8,150. Not a bad turn around.
The beloved hardwood flooring
This home improvement project is not at the very top of the list, but if you have the other things done, refinishing or installing hardwood floors could really change the game when it comes to the value of your home.
Wheteher you are pulling back the dingy wall to wall carpeting to reveal beautiful hardwood floors just waiting to be refurbished or deciding to install new hardwood floors, new flooring is always a solid way to add value to your home.
With a cost to refinish of around $2,500 you can expect a return of 100% or $2,500. If you buy new, the cost of around $5,500 will get you roughly 91% back at a $5,000 return.
Kitchen renovations typically return 82.7% of their investments and adding a family room addition could also be another way to go, depending on where you live. Many people, when renovating, plan to enjoy the renovation themselves. When it comes to the master bedroom, 90% of homeowners change the style when they upgrade, decorating to their own tastes.