If you’re looking to renovate your home, you want to make sure you get the best bang for your buck. Home renovations are expensive and there are no use spending buckets of money for an update that won’t yield anything more than a new look. Most homeowners expect to start a home renovation with a budget of $10,000. If you are planning to make some renovations on your home but aren’t sure where the best place to start is, here are the top 10 most valuable home renovations.
1. Bathroom Renovation
Bathroom remodels are one of the most valuable home renovations in regards to getting a high return on investment. In fact, a bathroom remodel can recoup 70% to 100% of the total cost.
Some of the best places to start with your bathroom remodel could be replacing the vanity or cupboards for a more modern look, replacing the flooring, or updating the bath/shower. These changes can have a huge impact on the look of your space and will add great value.
If you aren’t ready to start with the bigger more expensive changes, there are a few projects you can take on that are more DIY friendly and easier on the budget. A simple paint job will have a huge impact on how your bathroom looks and can even make the space look bigger. Replacing fixtures such as the lighting, mirror, or faucets can also make your space look.
Of course, if you’re taking on a full bathroom remodel, you will want to consider hiring some professional help. While many homeowners can take on projects such as replacing fixtures and basic plumbing, you’ll want to leave the big projects to the professionals. Making a mistake is a quick way to lose a lot of money and lower your return on investment.
2. Kitchen Remodel
After a bathroom remodel, a kitchen remodel is one of the most valuable home renovations you can take on. A kitchen renovation can yield a return on investment of 60% to 120%. If you’re renovating an older home, you will usually end up on the higher end of that range. The kitchen is one of the highest traffic rooms in the home, so keeping it up to date is important for keeping your home value high. A full kitchen remodel can be expensive and will easily use up your entire renovating budget, but if you do it right, you will quickly make back your money in added home value.
For a full-scale kitchen renovation, you will want to tackle projects such as replacing the appliances, installing new cabinetry and flooring, and updating the plumbing and electrical work. One mistake many homeowners make as they work on a home renovation is to go trendy with their updates. If you’re renovating specifically to add home value, it’s much better to go classic with your changes. A classic look will appeal to more people and be more valuable in the long run.
If you aren’t ready for a full kitchen remodel, there are still some less expensive, DIY friendly projects that will add to the value and improve the space. Like the bathroom, a simple new coat of paint or update wallpaper can make your kitchen look much newer and cleaner. You can even paint your cabinets for a new look or try replacing the hardware. These small changes will give you big results.
One of the most valuable home renovations that many people forget is updating the landscaping. This doesn’t mean simply planting new flowers or shrubs, though those smaller projects can help. There are quite a few updates you can make to your yard and landscaping to up the curb appeal of your home and increase its value.
As you are preparing to renovate the landscaping around your home, one of the first and most basic projects you may consider is fencing installation. A new fence will not only add to the curb appeal of your home, but it will also add to your home’s safety, especially if you have pets or children. This will also translate when you are selling your home and ultimately add to your home’s value.
Another great way to update your landscaping is to, of course, work on the plant life in the area. If you have a garden, make sure it’s updated with healthy plants and shrubs. The last thing potential buyers want to see is dry, dead plants. You could consider having a gardener come in to help pick the best plants for your space. They can also offer a mulch service that will help your plants that are already there to grow healthy and strong. A beautiful garden ups your curb appeal which translates to a higher home value.
4. Basement Remodel
When people are renovating their homes, they often focus on finished, high traffic areas, such as the bathroom, kitchen, and living rooms. People often forget the hidden gem they have just underneath their home that can skyrocket the house value. A basement remodel is one of the most valuable home renovations a homeowner can take on. Especially if it’s an unfinished basement, turning it into more living space will yield a huge return on investment for the project.
Potential buyers seriously consider usable square footage when they’re looking at a home, so while an unfinished basement can show potential, having a finished liveable space will definitely grab their attention. A homeowner doesn’t even necessarily have to completely finish the area. Simply taking steps to update the insulation and ensure that the area is protected against moisture will make it a more valuable space.
5. Replace Doors
You may be surprised to hear that one of the most valuable home renovations is simply replacing the doors on your home. While it may seem like a simple project, there is much more to it. Replacing your front door will do a lot of the curb appeal of your home. It’s one of the first impressions people will get when looking at your home, especially when they’re considering it for purchase. A new front door is also a smart choice when making your home more energy-efficient and secure. Older doors are weaker and easier to break down or get into. They are also more likely to have poor seals that let the warm air out of your home, making your HVAC system work harder. Replacing your door will add a lot of value to your home and will help you recoup some of the money spent.
This doesn’t just include your front door, but your garage door as well. An old, outdated, damaged garage door can be a huge eyesore on the front of your home. A new garage door installation is a fairly quick way to add more value to your home and also get a great return on investment for the money spent. In fact, some reports show that you can get as much as a 98% return on investment for installing a new garage door.
6. Replace Windows
Something as simple as replacing windows is actually one of the most valuable home renovations you can take on to improve the value of your home. Replacing windows isn’t simply for the aesthetics, though you can really make a significant change by changing the style. Replacing the windows of an old home will greatly improve the energy efficiency of the home, saving the homeowner money on utilities, and ultimately increasing the value of the home. According to HGTV, you can get a 60%-90% return on investment when you replace your old windows with energy-efficient windows.
Once you’ve replaced your windows, you may also consider updating your blinds. You can now have automated blinds installed in your home that can be raised or lowered with the simple click of a button or by tapping on your phone screen. This is also a great way to enhance your home’s safety as you can double-check that your windows are covered even when you’re away from home. This is a simple renovation that won’t take too much time or money, but in the long run, it will bring you more money by adding to your home’s value.
7. Roof Repairs
A roof repair project is surely one of the most valuable home renovations. You do need to keep in mind that it’s also one of the most expensive and time-consuming home renovation projects, so prepare for that when you plan for this project.
Roof maintenance is important to keep your roof looking good and working correctly. However, many homeowners forget to perform maintenance throughout the years and issues arise that require major repairs or an entire roof replacement. Replacing your roof before selling your home will skyrocket your home’s value. When potential home buyers are looking for new homes, they don’t want to purchase a place that has big, expensive projects that need to be completed. Being able to list in your home description that the roof is new will be a huge benefit for potential home buyers and will also allow you to raise the sale price for your home. While a roof replacement is an expensive project upfront, you’ll be able to recoup a large percentage of your money when you sell.
8. Deck Installation
Adding a deck to your home is also one of the most valuable home renovations as far as improving the exterior of your home. Homebuyers are always looking for the potential in every space of a home they’re considering, and if you’ve got an added entertaining area, that will be a huge bonus. Decks are a great way to add more living space to your home without actually expanding the building. Building a deck isn’t cheap, but with some reports showing a return on investment of about 80%, it’s worth it.
9. Exterior Updates
Updating the exterior of your home is also an important step to take when trying to increase the value of your home. Projects that aim to improve the curb appeal of your home generally have a high return on investment as they add to the value of your home. This includes replacing the front door, repainting your home, installing new siding, adding shutters, anything that will make your home look updated and aesthetically appealing.
You may also want to consider some projects that add to the safety of your home. You could have a security system installed that has cameras around the exterior of your home. You could also talk with some local outdoor lighting companies about motion sensor lights that will also add to the security of your home. These are things potential homebuyers would love to see and will add to the value of your home.
10. Energy-Efficient Systems
A more modern renovation project that many homeowners are considering now is to add more energy-efficient systems into the home. This includes updating appliances with green options, such as dishwashers, washers and dryers, and even refrigerators. Some of the previously mentioned projects, such as replacing windows and doors and repairing the roof also help to make a home more energy-efficient.
Homeowners are also considering bigger projects, such as adding solar panels to use solar energy throughout their home. While these are projects that homeowners generally do for their own benefit, they translate to added home value. This means if they ever decide to sell, they know there is the added value that will translate during the selling process.
From bathroom and kitchen remodels to updating your home with energy-efficient systems, these 10 projects are the most valuable home renovations you can take on to get a high return on investment. As you go through the process, make sure to take your time to pick classy and high-quality items that will last longer, and get you the best bang for your buck. Happy renovating!