Are you getting ready to take advantage of the current real estate market and put your house up for sale? Do you want to prepare for the future and increase its value when the time does come to sell? Do you just want to make your home a nicer place for you and your family?
If you said “yes” to any of these questions, keep reading. Listed below are 7 home improvement projects that are 100 percent worth the money and will provide great returns.
1. Bathroom Remodel
Generally speaking, kitchens and bathrooms are the two biggest selling points for most homes. Whether they’re shopping for a condo or a single-family home, just about every buyer is willing to invest a little (or a lot) more money if it means getting their hands on a nicer kitchen or better bathrooms.
Between kitchens and bathrooms, the latter tends to yield slightly higher returns on investment (ROIs). The average cost of a bathroom remodel ranges from$6,598 to $16,370, according to Home Advisor. Bathroom remodels typically provide returns of 60 to 70 percent, too.
Bathroom remodels do not always require extensive work to be worthwhile, either. They can include things like updating the showerhead, replacing the vanity, or improving the lighting. These small changes can go a long way toward refreshing the bathroom and making it look brand new.
2. Kitchen Remodel
Kitchen remodeling ROIs might not be quite as high as bathroom remodeling ROIs, but they are still impressive.
On average, a kitchen remodeling project typically ranges from$35,000 to $50,000, per Home Advisor. A complex remodel can yield an ROI of about 59 percent, but a minor remodel can yield a higher ROI of approximately 78 percent.
Some updates that might be included in a kitchen remodel range from replacing appliances with newer and more energy-efficient models to replacing or refinishing the existing cabinets. Not only will this make your kitchen (and your home) more enticing to potential buyers, but it also leads to lower energy bills and a better cooking experience for you.
You can also replace the hardware on the cabinets and drawers or update the lighting to further refresh one of the most popular rooms in your house.
3. Patio/Deck Addition
How easy is it, currently, for you and your loved ones to enjoy your backyard? Do you have a deck or patio that you can lounge on at the end of a long day, or is it just a big patch of grass without much else going on?
By adding a patio or deck to your backyard, you can make it and the entire house look better to future buyers. You and your family will also get to use and enjoy more of your property after the patio or deck is completed.
Decks are typically more expensive to construct than patios, but they have an ROI of60 to 80 percent. Patios cost less, but they tend to have a lower ROI (less than 50 percent).
4. Window Replacement
Replacing windows might not be as exciting as adding a deck or updating your kitchen. Despite being a bit boring, this home improvement project can still provide a nice ROI and boost your home’s curb appeal.
The average cost of residential window installation ranges from$3,000 to $8,500. It has an excellent ROI, though; at least 70 percent is typical.
If an ROI of 70 percent isn’t enough for you, remember that new windows can also increase your home’s energy efficiency. This means lower energy bills and a smaller carbon footprint.
5. Basement Remodel
An unfinished basement can detract from your home’s overall appearance and result in a lower sales price. The same is true of a dark, dingy basement that hasn’t been well maintained over the years.
To avoid running into this issue and make your home more valuable when you do decide to sell it, consider remodeling or finishing your basement sooner rather than later.
A basement remodeling project typically costs between$7,000 and $23,000 on average, according to Home Advisor, and it has an average return of around 70 percent. This return, combined with the fact that you and your family will have another usable room to enjoy, is considered worthwhile to most people.
6. Garage Door Replacement
A new garage door will upgrade your home’s exterior and make it more attractive to potential buyers before they even step inside. This home improvement project is also less expensive than many of the others on this list.
According to a Cost vs. Value Report from Remodeling Magazine, a new garage door costs, on average,around $3,907 and has an average return of $3,663, which creates an ROI of 93.8 percent.
If you want to make a small change that has a big impact on your home’s appearance and resale value, consider updating your current garage door to a sleeker, smoother model.
7. Attic Conversion
Finally, if you have enough space in your attic to do so, consider converting it into another usable room. From an additional bedroom to a den or office space, creating another room from your attic will significantly add to your home’s sale price and help it to stand out from others in your area.
It’s not cheap to convert an attic into a usable room (average costs arearound $40,000, according to Home Advisor). However, adding another room can also generate an ROI of 50 to 75 percent.
Consider, too, that after you convert your attic, you and your loved ones also get to enjoy a fun bonus room between now and the time when you decide to sell your house!
Plan Your Next Home Improvement Project Today
As you can see, there are lots of great home improvement projects you can tackle that offer a great ROI and make it a more enjoyable place for you and your loved ones.
If you’ve been looking to make some improvements but aren’t sure where to start, use this list as a jumping-off point and start planning your next big renovation project today.