Whether you just moved into a new place, or have lived in the same home for years, now is the ideal time to plan any home renovation or remodeling projects. Not sure where to start? Consider these 5 home improvement projects that will not only add value to your home but ensure the maximum ROI if you move within the next few years.
1. Backyard Patio or Sunroom
Making a few small changes (especially outdoors) can do much more than just make your home a better backdrop for family portraits. In fact, when done correctly, an outdoor renovation project can deliver a feature you love and increase the value of your home.
Summer is right around the corner which means you’ll want to get started planning this project ASAP. Depending on the overall size, adding a backyard patio or deck can add thousands to your home value and most projects have a ROI of 40% or more.
When it comes to projects that have appeal from both the inside and outside of the house, windows take center stage. Old windows can also drive up home cooling costs in the summer months by letting warm air in and the cold air out.
While replacing your home’s windows may not be the most exciting project you can do, consider this: new windows simultaneously increase curb appeal, value and efficiency. There may be no other remodeling project that accomplishes so many things. The resulting curb appeal and value are a given, but the right windows can reduce a home’s carbon footprint for years to come. What’s even better is that depending on the type of windows you install, you can expect to get 70-80% back in ROI if you sell your home.
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Many say that the kitchen is the heart of a home and that makes sense when you calculate home much time your family spends there together. Real estate experts also agree that when going to sell your home, the two most important things buyers will look at are the kitchen and bathrooms. So if your current kitchen needs a makeover, now is the time to plan it before the holiday season.
A minor kitchen remodel will recoup over 60% of its cost, according to Remodeling Magazine, while a major midrange kitchen remodel only has a 65% ROI.
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The bathroom is another prime place for renovations! If you’ve been thinking about upgrading your bathroom, there’s more than improved aesthetics to enjoy. That’s because, bathroom remodels can be a great way to add value to your home, especially when it comes to resale potential. Buyers today like seeing updated bathrooms and kitchens, so when you’ve put in the time and expense of making thoughtful upgrades, it often pays off in your sales price and you can expect upwards of 60% ROI on the project.
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If you are looking to instantly improve the overall curb appeal of your home, then consider replacing the roof! Not only will it add value to your home and increase its visual appeal, new roofing also offers the added value of being low maintenance, an important issue for cost-conscious buyers these days. According to one recent survey, new siding replacement offers an ROI of over 60%.Have questions or need help planning your home remodel? Contact FHIA Remodeling for a free project quote today! Follow us on Facebook, Instagram and Houzz to get inspired by our recent projects and join in on the conversation.