Four Classic Home Remodeling Projects
As a general rule, homeowners take note: it is always a good time for remodeling. Increasing your home’s value while boosting utility for you and your family is never a bad idea, and a well-planned addition can be extremely beneficial to everyone involved. That said, well-planned is the key phrase here. Not all additions are created equal, and the return on investment for any given improvement can vary drastically. For the benefit of homeowners everywhere, here is a list of four remodeling projects that will raise a home’s value and provide great utility for years to come.
1. Front Door Replacement
This is without a doubt the best bet for anybody looking to boost their property value. An inexpensive addition, an improved front door created, on average, a 99.6% ROI in 2014. This simple improvement can increase curb appeal and requires very little maintenance. The best bet for people considering this is a steel door. In addition to an increase in perceived security, steel doors provide much better insulation than older wooden ones, thereby increasing energy efficiency for the whole building.
2. Wooden Deck
With nationwide signs of recovery from the recent economic recession, this type of addition, generally seen as a luxury, is seeing a surge in popularity after several years of decline. With an average ROI of over 80%, these beautiful structures are usually inexpensive and create a fantastic outdoor living area, something that’s in high demand among new buyers. Many states do require a permit for these, so make sure to look into local ordinances and laws before beginning.
3. Minor Kitchen Remodeling
The kitchen has become the hub of the modern American household. Because of this, improvements and additions here tend to be a sure bet. A minor update includes things like cabinet doors, appliances, countertops, hardware, and anything else that leaves the basic structure and major components of the room intact and unchanged. Consequently, this is much cheaper than many might imagine, especially when one considers the drastic effect it can have on the flow and ambience of the room. As expected, this area continues to have a great ROI, with recent averages hovering at around 82%.
4. Attic Bedroom
As the occurrence of multi-generational household continues to rise in the United States, owners find themselves balancing the practical concerns of living space and cost efficiency. The relatively low cost to build often makes a house with an attic bedroom cheaper than a more traditional arrangement with the same number of bedrooms. They have an average ROI of over 79%, and provide a functional improvement that can be enjoyed immediately.
Remodeling is one of the best ways to increase a home’s value over time. Before you jump in and begin tearing the building apart, it’s best to do proper research, making sure that you’re getting the most bang for your buck with every project. Make sure to look into the average ROI for your area!