Kitchen Remodels and Bathrooms Add Resale Value
Did you know you can boost your home’s value with a remodel? Purchasing a home is a significant milestone in everyone’s life. It is a long-term investment in your financial well-being. While regular mortgage payments develop equity in your home over time, there are enhancements and adjustments you can make to your property that will increase its value and provide a significant return on your investment.
Are you considering selling your home? Here are top 5 renovation recommendations to boost your home’s value before selling it.
Energy-efficient Home Appliances
Due to a greater attention on environmental issues and an awareness that energy efficiency saves money on utility bills, today’s homebuyers prefer to place a larger premium on eco-friendly amenities. If you’re replacing in-home appliances, such as your microwave or furnace, look for energy-efficient models that can help you save money on your power and gas bills.
The cost of a new bathroom makeover varies greatly based on the age of the home and the amount of plumbing and electrical work required. Although changing fixtures and installing a backsplash is less expensive than replacing everything, a basic makeover should cost between $3,000 and $12,000. According to Remodeling Magazine, the average cost is slightly under $18,000, but you may recoup roughly 66 percent of that in your home’s selling value. According to the same survey, an upmarket makeover will cost roughly $57,000, but you’ll recuperate around 58 percent of the expenditure in resale value. (Discover Home Loans)
Renovating to get the modern kitchen makeover before you put your house on the market is a smart move, because buyers are more eager to buy when the home has useful enhancements. After all, the kitchen is the most trafficked room in the home. A kitchen remodel with modern updates is one of the influencing factors for 80 percent of purchasers in the market when it comes to selecting and valuing a home.
The average return on investment (ROI) for a mid-range kitchen redesign has been between 50% and 60% of the total remodeling spend. You can expect to recuperate roughly $34,500 to $41,400 if you spend $69,000 remodeling your kitchen. If you choose a smaller kitchen upgrade, you can expect a return of 75 to 80 percent. For example, if you spend $24,000, your recoup will be between $16,800 and $19,20. (USA Cabinet Store, 2021)
Upgrade Your Home’s Exterior
When it comes to increasing curb appeal, the first place to start is with the exterior of your home. First impressions last and how your home exterior looks can offer clues to how it looks inside. Affordable landscaping and other minor improvements like repainting, fixing your roof and driveway can assist increase its worth to both evaluators and potential homebuyers looking for a property.
Garage Door Replacement
We know it sounds strange but with a 93.2 percent return on investment, garage door replacement is right at the top. (Remodeling.hw.net, 2021)
This value is best realized if your house has a garage door that can be seen from the street. It’s more practical to invest your money elsewhere if your garage door is on the side of the house, at the back of the property, or otherwise hidden from immediate view.
Work with a Qualified Partner
Working with a highly-qualified partner helps assure that your home remodeling project goes smoothly. Planning to remodel your home? No matter what you have in mind, choose the right company to handle the project. Schedule remodeling services from J&M Construction & Remodeling. Our staff works with you to understand your needs. After we’re done, you’re sure to love the freshly remodeled rooms of your Humble or Kingwood, TX home. Call us at (281) 359-3550 to get started.
Discover Home Loans. (n.d.). Discover Home Loans. How to Increase Home Value with Bathroom Remodel. https://www.discover.com/home-loans/articles/how-bathroom-remodel-can-increase-home-value/.
How Much Does Kitchen Remodel Increase Home Value 2021. Kitchen Remodeling & Bath Remodel Services | USA Cabinet Store. (2021, May 29). https://www.usacabinetstore.com/does-a-kitchen-renovation-increase-home-value/.
Cost vs. Value 2021: West South Central Region. Remodeling. (n.d.). https://www.remodeling.hw.net/cost-vs-value/2021/west-south-central/.