Posted on Jan 30, 2017 8:20:00 AMIf you’re considering having your house remodeled, I’m sure you’ve wondered if it will create a drastic change in your home’s value. After all, that’s probably one of the primary reasons you are renovating your home in the first place. Of course there are projects that you take on that are purely for aesthetics and we like to call them the “feel good” projects. However, if your sights are set on selling in the future (and the driving force behind your home remodel), then it’s wise to do a little research to see how your project, or ideas of projects, that increase the value of your home. Two of the most common and well known value-adding projects are kitchen remodels and bathroom remodels. These give you the best opportunity on return of your investment. Depending on how well the home remodeling was done and the items that you chose to finish it off, your return on investment could actually be up to 100%.
Here are some of the house remodeling projects that actually pay off by adding more value to your home, which means more jingle in your pocket if you chose to sell.
Believe it or not, simply repainting the exterior of your house and incorporating some unique or detailed design elements (like shutters, decorative trim, etc.) can increase its value. In case you’re not a DIY painter and looking to hire a skilled crew, an average American home will cost about $5,000 for the exterior and $4000-$6,000 on average for the interior, depending upon your region. Interesting tibit…houses with a pale yellow exterior paint tend to sell faster compared to houses of another color.
Updating your fixtures and your countertops can satisfy your need to “refresh”. Even though many of us LOVE to see what’s new and unique on the market, many home remodeling contractors advise homeowners to avoid a design that is too trendy. Prospective buyers typically are more inclined to buy a bathroom with a classic design, but that definitely depends on your market, so just keep that in mind. So, that’s good if you just want to give your bathroom a little “facelift”. However, if you REALLY want to increase value in your home, then it’s time to push up your sleeves and get your “idea binder” ready!! Tiles, tubs, toilets, and sinks.,,oh my! Hiring a great design and build team is going to be a great asset to you and your family in renovating, restoring, or rebuilding the bathroom of your dreams (and your future buyers’).
There is absolutely no reason why remodeling your kitchen has to make you feel sick to your stomach or make you want to run for the hills. That is, if you hire a great team! Kitchen remodels always prove to be a star when it comes to increasing the value of your home. The net worth of your home can increase to up to 83% compared to a bathroom remodel, but still shines with about a 67% increase.
Replacing old Windows
Finally, replacing old or inefficient windows really pays off…for your home value and your heat/cooling bill. If your windows are already old and stained due to the wear and tear of extreme weather, it’s the perfect time to replace them. It will not only increase the home’s value up to 83%, but it will also reduce the electric consumption due to minimizing heat loss.
So if you’re considering a room or a whole-house remodel, take some time to do your research, and most importantly, choose a company that offers design and build services. That way your project is more likely to stay on track, on budget, and save you more time.