It’s a new year, and after playing the back and forth game of “Do We Buy or Do We Renovate?!”, you’ve opted to use your savings to remodel your home instead of starting from scratch.
Even if it seems like a huge job, there are really great benefits to renovating an existing home, so we’ve rounded up our best remodel ideas to help give you the biggest return on your investment as you update your home.
Improve Your Home Without Wasting Money
Perhaps you’ve started pouring over countless design books, pre-recorded every show on HGTV, and have talked to dozens of friends that have remodeled and are starting to feel like you’ve just embarked on an expensive and stressful subway-tiled path down renovation hell.
While renovating does require dedicated planning and budgeting, it’s completely possible to renovate a home without breaking your bank account and going crazy from the sheer amount of choices involved in a home remodel.
If you’ve dipped your toes into the world of remodeling, then you know that not all home improvements will reward you with the equity you’d expect when you decide to sell your house. While home renovations have seen a slight decline in ROI across the past few years, homeowners can currently expect to make about a 56% return on what they spent toward their remodel once they sell.
According to the National Association of Realtors’ Remodeling Impact Survey, shifting your focus toward a kitchen upgrade, a new roof, pulling out carpet and replacing it with hard wood floors, installing a new garage door, updating the siding of the house, or outfitting your home with better insulation are all improvements that have helped appreciate the value of the home when it comes time to put it on the market.
When we think of a home remodel, our minds tend to drift toward visions of sawdust covering the floors, trying to cook in makeshift kitchens, and chunks of drywall strewn about the floor, but a more streamlined home renovation with ROI as a first priority can be accomplished in smaller, more manageable phases that won’t have you reeling at your bank account or make you feel like your home is unlivable during the remodel.
Read on to learn about some of our handiest renovation ideas that can help increase the value of your home without losing our head!
A Minor Kitchen Remodel
Minor kitchen remodels, in comparison to their major kitchen remodel counterparts, will typically deliver around a 70-80% return on investment, whereas doing a full kitchen demo that includes remodeling the entire layout and updating it with completely new appliances only tends to see about a 65% return on the original investment.
According to NerdWallet, this means that for every $100 spent on updates, your home’s value increases by $83 on average. A minor kitchen remodel might mean replacing one or two appliances with more energy efficient systems, updating countertops, or even applying a fresh coat of paint to the space.
deck with a view
Deck additions are a great way to up the value of your home and add new space to your property without creating a big fuss inside. As of last year, a deck addition done in wood typically cost about $10,950 to complete but will stand in value at $9,065 once you decide to sell. If you just did the quick math, that’s a 82.80% cost recoup!
Minor Bathroom Update
Opting for a minimal bathroom update is a wise investment mostly because it’s a room in your home that you can likely update yourself. Updating your bathroom is not to be confused with adding an entirely new bathroom in your house— which is an often pricey endeavor with a low return on investment.
Some simple and manageable ways to give your bathroom a facelift include repainting walls or removing old wallpaper, replacing the fixtures throughout the space, and even replacing the shower door and re-caulking the tub if you’re feeling extra handy.
Backyard with a Pond
Similar to a deck addition, landscaping is another non-invasive remodel project that can potentially offer a 100% return on your original investment in your yard. Unless you consider yourself a talented landscapist, this type of renovation runs much smoother when you hire a designer.
According to the American Nursery Landscape Association, landscape designers typically cost around $1465, and the average homeowner spends around $3502 on landscaping his or her property. If you just shuddered at that number, consider going to a local community garden and seeking out someone educated on plants that grow well in your area, take some time to trim the shrubbery, and purchase plants that feature pops of color to give a dynamic effect around the entry of your home.
Garage Door Replacement
A garage door replacement doesn’t sound like it would particularly up the value of your home by any significant measure, but it’s actually one of the top ways you can add value to your house when you prepare to sell.
Garage door replacement typically offers a 98.30% return on your investment! The main reason for this? Curb Appeal. Most project that relate to anything on the exterior of the house obviously attract more initial interested buyers and have higher paybacks than interior projects.
Aside from the fact that outdated siding just looks a little grimy, improving the exterior of your house with new siding is a pricey but well worth it as a remodel investment. You can expect to shell out around $15k for a full update on your home’s siding, but if it’s done well and updated with the right materials, you can expect to 76.7% return.
We can hear you all sighing collectively— yes, this is a more involved option in your home remodel journey.
But! Before you toss it off to the side, remember that if your roofing is indeed old and structurally even a little bit insufficient, you might find that you have a much more difficult time trying to sell your house if interested buyers detect issues with the original roofing. If your house is in real need of a roofing re-do, it’s a valuable place to put your money in the long run.
Manufactured Stone Veneer
Manufactured stone veneer is the second highest return on your remodel investment and for good reason— it brings massive aesthetic appeal and can make an old home look updated and typically recoups 97% of the original cost.
Entry Door Replacement
Entry Door Replacement
An entry door replacement is another smaller update that goes a long way in ROI. It’s a relatively cheap project— around $1,410 on average— and yields an average return of $1,280 at point of sale. Finding a new door can be a fun process, too. While there’s lots of different ways to approach it, it’s also an aspect of the remodel process in which your personality and tastes can shine.
Attic Bedroom Conversion
The attic bedroom conversion is, quite obviously, very different from a room addition or remodel simply because the basic structure of the space already exists.
Although the shape of your attic might be slightly funky, if decorated right and painted in a bright, engaging way, the strange shape of an attic room can be a fun and quirky addition to any home. While an attic remodel can be a pretty steep ticket— we’re talking around $75K as the national median cost— you can expect to recover 53% of that cost at resale.
Perhaps starting an involved and costly home renovation isn’t in the cards for you right now. If that’s the case, we don’t blame you; it’s better to begin a home renovation with confidence in the project and the budget than to blindly walk into something simply because it feels like it needs to get done.
In the meantime, try some of these time and wallet-friendly hacks to spruce up your living space and increase the value of your home before you make a bigger renovation down the line.
Update Your Light Fixtures
modern light fixtures
Take some time to do a survey of your house and note where the fixtures look a little bit dated or out of place with the rest of your home’s aesthetic.
Maybe they came with the house, or maybe you bought them during your now regrettable shabby-chic phase. It’s an affordable way to add new ambiance to your space, and will generally brighten up rooms for a lighter and open feel.
Repaint Where You Can
Repaint Where You Can
Take a weekend to give the interior of you home a fresh coat of paint. Sometimes just starting off with a clean white slate can help you see the other places your home might be in need of improvement.
Maybe rooms in your house are in need of a pop of color, or perhaps the front door has faded from weather over time. Painting yourself is a lot of work, but manageable and significantly cheaper than hiring a team out to handle it.
Similar to painting, landscaping can be a big job if you try to completely overhaul your front yard by yourself. Start simple by adding potted plants to the mix, and gradually start planting large plants or groups of flowers that add dimension to the house.
Marie Kondo on Your Crib
Marie Kondo FTW
We know none of you probably have the time to take a moment to review every object in your house and ask yourself “Does it Spark Joy?” but decluttering your home gives potential buyers a better view of the home they’re actually interested in seeing. Removing unnecessary items also gives you, the homeowner, a chance to look at more of the structural issues you might need to update in time.
Replace The Carpet
Replace the Carpet
Ripping up and replacing carpet has become quite the DIY project across the last few years thanks to more affordable options like laminate wood flooring.
Most people interested in buying homes are turned off by carpet, and replacing it with wood floors– even if it’s not authentic wood— will quickly up the value of your home.
Take it Slow
Keep in mind as you begin the home renovation process that you can always tackle it in smaller, achievable phases so that you aren’t spending large quantities of money all at once and the bigger end goal will consistently feel a little more attainable.
Choosing to invest money in your home with renovations large and small can appreciate the value of your home over time, and will help you to appreciate the home you have right now!
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