There are some home renovations that are going to pay off at rates that are so much better than others. If you are interested in adding a lot of value to your home for personal reasons or in order to make a future sale, every single one of the home improvements mentioned below is most likely something that you can consider. Just be sure that you work with specialists since it does not matter what home improvement you make if it is not of the highest possible quality.
Keep in mind that when thinking about gaining the most value we refer to a home improvement that is going to bring in a very high return on the investment made. This is the easiest way to assess the value gained for the money paid.
Vinyl Siding Replacement
This is not the type of update that you instantly think about but when you replace vinyl siding and you pay around $9,000 you can expect to add around $8,000 to a home’s selling price.
Major Bathroom Remodeling
Bathroom remodeling is very popular when trying to add property value. In many cases the buyer will be interested in remodeling the bathroom anyway so it makes sense that much of the money paid for the project translates into value. A ROI of close to 85% is normal. The average overhaul will cost around $13,000.
Energy Efficient Windows
Replacing windows with more energy efficient models (usually vinyl based) is not going to be cheap. You can expect to pay even $10,000. However, the home’s asking price will go up by $8,500 when you spend ten thousand on vinyl replacement windows.
Major Kitchen Remodeling
Around 30% of the homeowners that answered on a survey by NetBet Casino Online declared that they are spending between 10,000 and 24,000 dollars on makeovers for kitchens. Around 35% of the remodeling jobs were done with the purpose of increasing home value for the long term. If we are to look at official statistics, you can expect a ROI of 81% when remodeling a kitchen.
Remodeling The Basement
This part of a home is so often overlooked but we see buyers being more and more interested in basements. The renovated basement can easily become a brand new room in the home. You can use it to create family bedrooms, rent out or add a guest area. That is why the return on the investment made for basement remodeling projects is close to 80%.
Replacing The Roof
When you spend $10,000 on a brand new roof curb appeal will be added for the entire home. This means that the property’s asking price can go up by $7,500.
Remember that even the smartest renovations will not guarantee results in absolutely all cases. That is especially the case at the moment with the current state of the real estate market. There are many other projects that can bring in a really high return on the investment made, based on various factors. You want to see what works best in the area where the home is. In many cases a local real estate agent can offer much information about this.