Choosing the right home improvement projects

When it comes time to sell your house, home renovations are a great way to add value and appeal to potential buyers.

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Interior

Exterior

Choosing the right remodeling project can add significant value to your home's price tag but the roi in relation to the cost is an important factor. Thankfully, two experts in the remodeling industry, the National Association of Realtors and Remodeling Magazine, have released reports detailing the ROI to expect with some of the top home renovation projects.

Which Home Renovations Can Add The Most Resale Value To My House?

The Top Interior Remodels for ROI

Flooring Upgrades

Refinished wood floors can increase home value
Hardwood Refinish - ROI 147%

Refinishing floors improves the appearance of your floors, as hardwood can become scratched, dull, or discolored over time.

Refinishing can also extend the life of the floors by replacing the protective layer that helps prevent damage.

Refinishing hardwood typically involves several steps:

New floors add home value
New Wood Floors - ROI 118%

Hardwood floors are incredibly durable and can withstand heavy foot traffic, making them ideal for potential buyers with children and pets.

The installation process typically involves removing existing flooring, preparing the subfloor, and installing the planks. Installation can take a few days to several weeks.

After the installation, you will need to wait for the finish to dry before walking on the floors. While the installation process can be lengthy, the result is well worth the time and investment.

Upgrading insulation is a low cost option to add value to your home

Insulation Upgrade - ROI 100%

By increasing the insulation in walls, floors, and ceilings, homeowners can reduce the energy required to keep the home comfortable, saving on utility bills. 

Upgrading insulation usually involves hiring a professional contractor to assess the existing insulation and suggest options to improve energy efficiency. 

The new insulation may be added on top of the existing insulation, or the old materials must be removed and replaced.

Expected Energy Savings
Finished basements add value and living area to your home

Finished Basement - ROI 86%

There are several benefits to transforming an unfinished basement into a functional space. It can be used as a second living room, home theater, game room, or even a home gym.

Finishing a basement typically involves framing, insulation, drywall installation, electrical work, and flooring.

While the process can be time-consuming and require a significant investment, the result is a functional and comfortable space that can be enjoyed for years. A finished basement can add comfort, square footage, and value to a home with the right design.

Closet renovations are common home improvements that raise home values

Closet Renovation - ROI 83%

A well-designed closet can create storage space and make it easier to organize. This will help you keep a house tidy and make it attractive to potential buyers.

A closet upgrade can range from simply reorganizing the space to a complete redesign with new storage systems and custom features.

A closet project typically involves working with a professional designer who will create a custom plan that includes new storage systems and features, such as built-in shelving.

Attic conversions to extra living space

Finished Attic - ROI 75%

Homeowners can make the most of their home's square footage by transforming an unused and unfinished existing space into a functional living space.

An attic can be converted into bedrooms, home offices, playrooms, or guest suites. Finishing an attic can also be a more cost-effective way of adding space than building an addition. Also, upgraded attic insulation can save on energy costs.

Finishing an attic can be a complex and involved process that requires the expertise of a professional contractor who has experience with attic renovations.

Kitchen Remodel Projects

Complete Kitchen Remodel
Complete Kitchen Renovations - ROI 75%

A full-scale kitchen renovation can replace everything from cabinetry, countertops, backsplash, and flooring.

One advantage of a complete kitchen renovation is that it allows you to create a unique and appealing space that catches the attention of potential buyers.

A complete renovation project typically involves determining your budget and finding a contractor or designer to develop a plan for the project. Once the design plan is in place, the kitchen will be demolished and rebuilt.

Minor Kitchen Remodel new sinks
Kitchen Upgrade - ROI 67%

Kitchen upgrades are a cost effective way refresh your space and add value to your home. These can be simple upgrades that add value to your home—making your kitchen more enjoyable and functional.

Start by determining your budget and what upgrades will provide the most return on investment. Then work with contractors that specialize in those types of projects.

Consider the following upgrades:

Bathroom Renovating

Bathroom remodels add more value than a new bathroom
Bathroom Renovations - ROI 71%

Upgrading bathrooms can significantly impact the look and feel of the entire house while also making the home more appealing to buyers.

Benefits of a bathroom upgrade include improved functionality, comfort, and energy efficiency. In addition, a new bathroom can feature modern and efficient fixtures and appliances, such as low-flow toilets and shower heads, reducing water usage and lowering utility bills.

A renovated bathroom can also add more storage space, making keeping the bathroom clean and organized easier.

A half bath addition will give your home more usable space
Bathroom Addition - ROI 63%

Extra bathrooms can help reduce stress for everyone needing to use the same facilities in a large family. Making it a feature that can help distinguish your home from others on the market.

Adding a bathroom involves hiring a contractor to design a plan that matches your style and budget and a sometimes lengthy installation.

Working closely with your contractor throughout the process is important to ensure the bathroom meets your expectations and is up to code.

Adding a master bedroom gives more value for potential homebuyers

Bedroom Suite Addition - ROI 56%

Master bedrooms are larger than other bedrooms in the home, with a private bathroom, walk-in closet, and features like a fireplace or balcony.

The benefits of adding a bedroom include:

When adding a bedroom, hire an experienced contractor to design a plan that matches your style and budget. Finding a contractor specializing in bedrooms can ensure your expectations are met, and everything is up to code.

Tankless Water Heaters Save Money and add value

Tankless Water Heater - ROI 4% increase in home Prices

Tankless models are more energy-efficient than traditional tank-style water heaters, providing hot water on demand instead of constantly heating and storing water.

This water heater style can lead to lower energy bills and a smaller carbon footprint.

Tankless water heaters have a longer lifespan than traditional models, reducing the need for costly replacements.

For homebuyers looking for a home with modern, eco-friendly amenities, a new tankless heater can be a major selling point.

The Top Exterior Remodeling projects for ROI

A recent roof replacement is sought after in the real estate market

Roofing - ROI 100%

There are several benefits of installing a new roof, including energy efficiency, improved safety, increased home value, and reduced maintenance costs.

An energy-efficient roof can reduce utility bills by keeping the home cooler in the summer and warmer in the winter, thus reducing reliance on heating and cooling systems.

A new roof can increase curb appeal, attract buyers, and significantly increase your home's value.

New garage doors can result in a 100% return on the installation cost

Garage Door - ROI 100%

This one may be a surprise, but garage doors are a prominent feature of a home's exterior and can significantly impact its curb appeal and resale value.

Installing new garage doors can improve the look of a home, enhance its security and functionality, and make it easier for owners to gain access to their garages.

These renovations can include replacing old or outdated doors with new, energy-efficient options designed to improve insulation and reduce energy costs.

Siding Replacement

Houses with Hardie fiber cement siding get the best ROI
Fiber Cement Siding - ROI 86%

Fiber cement siding is a popular home project that can increase the resale value of a home.

This type of siding is durable, weather-resistant, and low maintenance, which can be a major selling point for potential buyers.

Fiber cement siding is also a versatile option that can be painted or stained to complement the existing style of a home.

Additionally, it is fire-resistant and can help reduce the risk of damage in a fire.

New vinyl siding can have a positive impact on your home's value
Vinyl Siding - ROI 82%

Replacing your home's worn wood siding with durable and low-maintenance vinyl can significantly enhance a home's look and value. From vertical siding to shake and shingle siding, there are plenty of options for vinyl.

A typical project is replacing the old or damaged siding with new, energy-efficient options, like insulated siding, designed to improve comfort and reduce energy costs.

When choosing vinyl siding, work with a contractor with the experience and tools to get the job done correctly.

Deck Additions

Multi Story Wood Deck
Wood Decks - 65%

A new wood deck not only adds to the aesthetic appeal of your home but also provides additional space for outdoor living and entertainment.

A wood deck can be made from a variety of wood types, and it can be customized to meet the specific needs of your home.

Potential homebuyers appreciate a well-built deck that is sturdy and safe, and they see it as a valuable addition to the property.

Composite decking on home
Composite Decks - ROI 62%

Composite decks are popular because they are durable, low-maintenance, and long-lasting. Unlike wood, composite decking doesn't require regular staining or sealing, making it an excellent option for most homeowners.

Composite decking is also available in a variety of colors and finishes, making it easy to customize to your liking and build the exact deck you envision.

Homebuyers see the low-maintenance aspect of composite decking as a major selling point, which adds to the property's overall value.

Window Upgrades

Vinyl window upgrades
Vinyl Windows - ROI 67%

Upgrading to vinyl windows is a great way to boost your home's energy efficiency and improve its curb appeal.

Vinyl windows offer a variety of benefits, including their low maintenance requirements and resistance to weathering and warping. In addition, their insulating properties can help keep your home more comfortable and reduce energy bills.

The installation process is also relatively quick and easy, with minimal disruption to your routine, and can often be done in one day.

Wood window upgrades save money on energy bills
Wood Windows - ROI 63%

Wood windows may be the way to go if you're looking for a classic, timeless look for your home.

While they require more maintenance than vinyl or aluminum windows, wood windows offer a natural beauty and warmth that can't be replicated. Wood frames also have excellent insulating properties and can help regulate the temperature inside your home.

The installation process for wood windows typically takes longer than vinyl and may require carpentry work to ensure a proper fit.

Front Door Upgrades

Steel doors for the entry way of a house is appealing to buyers
Steel - ROI 63%

Steel entry doors are solid and resistant to wear and tear. In addition, they come in a wide range of bold and neutral colors and styles, making it easy to find one that complements your home's exterior.

Steel doors also offer excellent insulation, helping to keep your home warm in the winter and cool in the summer. They're also very affordable compared to other door materials.

The installation process is quick and easy, making it a cost-effective way to add value to your home.

60% of the cost of fiberglass doors is recouped in home value
Fiber Glass - ROI 60%

Fiberglass entry doors are low-maintenance and can be designed to look like wood, offering the same elegant look without the high maintenance.

Fiberglass is a sturdy and long-lasting material resistant to dents, scratches, and rot. It's also an insulator, keeping your home energy-efficient year-round. Additionally, fiberglass doors offer a higher level of security.

Although they are more expensive than steel doors, they offer a great return on investment by adding value to your home.

In-ground Swimming Pool

Swimming Pools and Hot Tubs - ROI 30-100%

Adding a swimming pool or hot tub to your property can add significant value to your home, especially as an in-ground combo.

Pools and hot tubs provide a luxurious outdoor experience for which homebuyers are willing to pay extra. However, installing a pool or hot tub is a significant investment that requires careful consideration and time.

A well-maintained and well-designed swimming pool or hot tub can be just the thing to set your house apart from the rest of the market.

Need help deciding which remodeling projects are best for your home?

When preparing to sell a home, deciding which remodeling projects is best for increasing a home's resale value can be a complex and challenging task, as there are many factors to consider. While some renovations may enhance the aesthetic appeal of a property, they may not necessarily increase the overall home value that much compared to the cost. To maximize the roi on remodeling, homeowners should focus on home improvements that offer the most significant return for their money in their housing market.

When deciding which remodeling project is best for increasing a home's resale value, it's essential to consider the local real estate market. Homeowners should research the types of features and renovations that are popular in their area, and tailor their plans accordingly. They should also consider the value of other homes in their neighborhood, and ensure that their costs don't exceed the expected resale value.

In conclusion, choosing the right home improvement to increase a home value requires careful consideration of many factors, including the local market, average cost, money on hand, and expected return on investment. Kitchen and bathroom renovations, as well as exterior upgrades, can often provide the most significant roi and should be the focus of attention for homeowners looking to maximize their resale value.


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