Whether you’re a new homeowner or just a fixer-upper type, you know that investing in home improvements could have top-dollar returns for you in the future. Spending a little bit of money now to improve your home can result in profit later down the road. These four home improvements are sure to give you the most bang for your buck! Consider Remodeling.com’s Cost vs Value Report for reference before starting any project.
Kitchen Remodel
Kitchen renovation costs can be anywhere between hundreds or thousands of dollars depending on what type of project you’re doing. So it’s important to first decide if you want to do minor kitchen renovations or a complete kitchen remodel, and what you’ll need to accomplish those goals. The following are some improvements you can make to your kitchen profitable:
- Install new countertops and/or cabinets
- A fresh paint job
- Add a tile backsplash
- Refinish your hardwood floors (or install them if you have old, outdated flooring)
- Replace old stoves and fridges for high-efficiency appliances
- Designing a more open concept for optimal space
Whatever you decide to do, transforming your kitchen will add a modern touch and add more value to your home should you decide to sell it in the future.
Curb Appeal
One of the most important improvements to any home is its curb appeal. Sure, we are all taught to never judge a book by its cover, but who wants to live in an outdated house with an ugly yard? In fact, just last year the National Association of Realtors and the National Association of Landscape Professionals conducted a report determining the impact of outdoor remodeling projects and their financial returns. Their findings showed that a landscape upgrade was estimated to bring a whopping 105 percent return on investment. Not only did this project project big profit for the future, but it was found to increase happiness and improve livability for homeowners.
Add-Ons
Other high ROI home improvements are add-ons to a home. For example, you may want to consider the following additions to your home:
- Turning a one-story home into a two-story home
- More bathrooms (i.e. 3 bedroom, 2 bathroom home is more appealing than a 3 bedroom, 1 bathroom home)
- Turn a basement into additional living space
- Addition of a guest house or spare bedroom
Adding more square footage to a home is a way to increase a home’s value and profitability down the road.
The Little Things
Sure those bigger projects might give you a higher ROI, but smaller home improvements go along way. Don’t forget the little stuff! Replacing light fixtures, refinishing your flooring, giving the inside of your home a paint job, replacing or installing trim or crown moldings, planting flowers in the front yard, and deep cleaning your carpets are just a few things you can do to liven up your home. Upkeep of your home both inside and out is going to cut down on the wear and tear of your home and keep it looking up-to-date, which is a bonus for you whether you are investing in your apartment, condo or home.
These four home improvement ideas will spruce up your home (and your wallet) later on. Investing in something like a full kitchen remodel can result in high returns on your investment in the future, keeping your family and your wallet happy!
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