As a homeowner, when you spend money on a home renovation project, it is good to know if you will get a high return on your investment. Before spending your hard earned money, you want to make sure you do your research. If you are curious about the cost versus value for the project you are considering, you can reference this report from Remodeling magazine and see the average value your project would retain at resale based on your region. The following home improvement ideas are worth considering as they have been recognized for having a good return value on initial investment.
Enhance Your Curb Appeal
Enhancing the curb appeal of your home is a surefire way to add value. Of course large projects like new siding, windows, or roof will add value. And there are also less costly options to beautify the exterior of your home. For example, you could replace your entry door or garage doors. Another option is to add manufactured stone veneer as an accent to your home. And while completely re-doing the landscaping around your home can be expensive, you can find simple ways to improve the overall look of your lawn and gardens to complement your home. Putting down fresh mulch or replacing a dead or overgrown bush or tree with something native that adds a pop of color are fairly inexpensive tasks.
Minor Bathroom or Kitchen Remodel
Two of the rooms we use most in our homes are the bathroom and kitchen. While a full-scale remodel of either of these rooms can be costly, there are ways to give them an updated look without completely gutting the entire room. Upgrading outdated fixtures or appliances, replacing countertops, and installing new lighting can go a long way. You could also consider adding newer and more resilient flooring or giving the cabinets a facelift by replacing the fronts and installing new hardware. By creating a more functional and energy-efficient space in these rooms, you will not only increase the appeal of your home but also the value.
Install Hardwood Flooring or Refinish Existing Hardwood Floors
Hardwood floors have a proven track record for being a good return on investment for homeowners. While there are many attractive alternatives to hardwood floors, many buyers are willing to pay more for a home with real hardwood floors. Alternatively, if your home already has hardwood floors, refinishing your floors could be a less expensive option to increase the value of your home. Not only are hardwood floors beautiful, they can stand the test of time.
Increase Usable Space in Your Home
Basically, any remodeling project that increases the usable space in your home will also, in turn, increase the value of your home. Some projects to consider for the interior are an attic conversion or basement remodel. To increase the amount of space you can use on the outside of the home, you could consider a deck or patio addition, screening in your existing deck or converting that space into a sunroom.