Home renovation or remodeling is rarely a small undertaking. As a homeowner, you’ll be counting the cost in dollars and in disrupted living and inconvenience. One of your biggest considerations should be the return on investment (ROI) of any upgrade. But the reality of remodeling is that despite the chaos, at the end of the day, it will add to your family’s quality of life and increase the value of your home.
Remodeling is a big undertaking, so it’s best you pick the upgrades that are going to give your home the best resale value possible. Knowing that the project will be adding to your home’s value takes some of the sting out of the costs.
Probably the two best home improvement projects to make your home most attractive to buyers are renovating your kitchen or bathroom. After structural soundness, buyers consider these two rooms to be the most important factors in buying a home.
The bathroom is one of the most important rooms in your house, and a bathroom upgrade is a great choice for a home improvement project. Bathroom renovations give some of the highest resale profits.
These are some of the most popular bathroom upgrades that can greatly add to a home’s appeal:
Bathroom upgrades run the gamut from relatively easy projects you can tackle yourself, all the way to full-blown renovations where you’ll need to hire a professional.
Kitchens deserve to be front and center in your remodeling plans. After all, the family kitchen is the room most used by everyone. It truly is the heart of the home.
The most cost-effective kitchen fix is what the experts call a minor remodel. This gives an older kitchen a whole new look with cabinet refacing, up-to-date countertops, and the latest in energy-friendly appliances.
Whether to do major remodels versus minor remodels is a decision only you will be able to make. Guidelines for financial considerations depend on the size of your project, with HomeAdvisor putting the average price of a kitchen remodel at $10,640 - $28,986. The timeline for this project is two to three weeks.
Most people have personal reasons for tackling a renovation. Long before the financial considerations kick in, you will have some unique renovations you want to make, so you’ll be willing to endure the dust and turmoil of a remodeling project.
It’s important to consider if you will be remodeling for your own use. In this case, you should be planning accordingly for the upgrades you will personally enjoy.
On the other hand, if the property is going to be listed on the market shortly and you are intending that the renovation will bump up the home’s value, a different set of parameters apply. The upgrades that you undertake should be popular improvements that will add to the home’s appeal.
This is your home and castle. If you’re not planning to sell in the immediate future, timely upgrades will greatly enhance your day-to-day enjoyment. If you are planning a move soon, a home renovation project becomes a creative endeavor that can boost your bottom line.