Renovate and get the most out of it!
As a home owner, its natural to want to make improvements to your property. Whether you
are looking to update your home style, increase its functionality or boost its value,
renovations can be a great way to achieve your goals. However, not all renovations are
created equal. Some may recoup their value agt resales, while others may not.
In this article we will explore the top 5 home renovations that will pay off at resale,
based on data from the National Associations of Realtors and other industry sources.
From kitchen upgrades to bathroom remodels, will dive into the renovations that are most
likely to attract potential buyers and increase your home's value.
1. Kitchen Upgrades
The kitchen is often considered the heart of the home, and its no surprise that kitchen upgrades are among the most valuable renovations. According to the National Association of Realtors, a minor kitchen remodel can recoup up to 102% of its cost at resale. A major kitchen remodel, which can include new appliances, cabinets, and countertops, can recoup up to 92% of its cost.To get the most bang of your buck, focus on updating the essential such as:
- New appliances such as a stainless steel refrigerator and range
- Granite or quartz countertops
- Updated cabinets and hardware
- New flooring, such as hardwood or tile
2. Bathroom Remodels
Bathroom remodels are another renovation that can pay off big time at resale. According to the National Association of Realtors, a mid-range bathroom remodel can recoup upto 102% of its cost. A major bathroom remodel, which can incude new fixtures, tile and a separate shower can recoup up to 93% of its cost.To get the most out of your bathroom remodel, consider the following:
- Update the fixtures such as the sink, toilet and shower
- Install new tile such as ceramic or porcelain
- Add a separate shower or bathtub
- Update the lighting and mirrors
3. Hardwood Flooring
Hardwood flooring is a timeless and versatile option that can add warmth and character to any room. According to the National Association of Realtors, installing hardwood flooring can recoup upto 91% of its cost at resale.To get the most out of your hardwood flooring investment consider the following:
- Choose a popular hardwood species such as oak or maple
- Install the flooring in high-traffic areas such as the living room and the kitchen
- Consider adding a finish, such as a stain or polyurethane, to protect the flooring and enhance its appearance.
With the right guidance and expertise, you can turn your home into a valuable asset that will attract potential buyers and increase its value.
4. Exterior Siding
Exterior siding is a crucial aspect of your home's curb appeal, and updating it can pay off big time at resale. Researches says that installing new exterior siding can recoup up to 93% of its cost.To get the most out of your exterior siding investment, consider the following:
- Choose a durable and low maintenance material, such as vinyl or fiber cement
- Consider adding insulation to improve energy efficiency
- Update the trim and moulding to match the new siding.
5. Landscaping
Landscaping is a crucial aspect of your home's curn appeal, and updating it can pay off big time at resale. Researches indicates that landscaping can recoup up to 100% of its cost.To get the most out of your landscaping investment, consider the following:
- Choose low-maintenance plants and flowers
- Consider adding outdoor lighting to highlight the landscaping
- Update the hardscaping, such as the patio or walkway.
Conclusion
Renovating your home can be a great way to update its style, increase its functionality and boost its value. However, not all renovations are created equal. By the focusing on the top 5 home renovations that will pay off at resale, you can make informed decisions about how to invest in your home.Remember to always consult with a professional contractor or real estate agent before starting any renovation project. With the right guidance and expertise, you can turn your home into a valuable asset that will attract potential buyers and increase its value.
