Home remodeling can be an expensive process, no matter how large or small the project may be. Whether you’re renovating a home to sell it or you’re looking to increase your property value, there are some areas that are worth more than others. Before you determine where your budget should go, you need to know which home remodeling services have the best return on investment. Here are some ideas to get you started.
Kitchens and Bathrooms
Kitchens and bathrooms are by far the best rooms in the house to invest in. These are the areas that buyers assess when determining how updated a home is. Even if you have old carpet or wallpaper in the living room, having an upgraded kitchen and bathroom will instantly make your house desirable. Most homeowners get nearly all of their money back from kitchen remodeling, if not more (depending on the nature of the housing market). Some of the best features to remodel include:
- Countertops: Consider countertop refinishing as an affordable alternative to getting new counters
- Cabinet doors: New paint or stain can quickly transform old cabinets into brand new ones
- Hardware and light fixtures: Very affordable, and most of them can be installed without a professional
- Mirrors: Add a simple wood frame around your bathroom mirror to make it look elegant and more expensive
- Tile: Tile work can be expensive, but tile refinishing isn’t. If you need to replace the tile entirely, consider using basic tile for most of the bathroom/backsplash, and then get accent tile for a subtle touch of sophistication.
Interior and Exterior Paint
Changing out the paint color of a home’s interior and exterior can completely transform the way it looks. On the outside, focus on accentuating the trim and windows of the home. You may also consider using a bold accent color on the front door, as long as it suits the façade. On the inside, work with neutral colors that play into the other features of the interior (flooring, cabinets, etc.). Note that lighter colors make a space feel bigger and brighter, which would be ideal for small rooms. Paint is highly affordable, and you can do most of the work on your own if you have the time. Saving money on labor will help make this investment more worth your while.
Roofing is on the more expensive side of home remodeling, but it is a crucial component of a home inspection. When you go to sell your home, you can lose a ton of money in the appraisal from an old, leaky roof. A new roof is a selling feature – something that will draw people in and make them excited to own your home. A damaged roof is a major drawback that can quickly turn even the most interested buyers away. Roof repair or roof replacement may not yield a 100% return on investment, but it will certainly make your house easier to sell when the time comes.
Once again, this is not a “cheap” home remodeling service, but it is one that will pay for itself over time. If you plan on living in your house for a while, having new, more energy efficient appliances will cut down on your electric bill. The savings will help cover some of the cost of the new appliances. Then when you go to sell your home, you can advertise it with “newly installed appliances,” which will attract more buyers and make your kitchen look more modern at the same time. If you cannot buy all new appliances at once, start by replacing the oldest one in your kitchen and work your way around.