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RENOVATION RETURN RATES: WHAT TO EXPECT WITH YOUR INVESTMENT

Home improvement projects are things we do strategically to improve the value and function of our homes. They’re also smaller scale projects we embark on to spice things up, keep us from getting bored. Whatever your reason for choosing to remodel or renovate, the end goal should always included added value. The return rate of your renovation is what you can expect to gain back when your house goes on the market. These are the best return rates for renovations.

Kitchen

Always and forever the most popular home renovation. It’s a highly used room that places function above anything else, yet never spares the design aspect, either. For a major kitchen renovation you can anticipate receiving 85-87% back on what you spent. Investing is more durable and sustainable materials – like bamboo flooring or granite countertops – will earn their keep.

For a minor kitchen remodel (best done when you’re getting ready to sell for a quick refresh to the look of your space) you can almost guarantee a full return. We’re talking some backsplash, a new coat of paint, maybe one large upgrade like floors or cabinet refacing, and new hardware on your cabinets. If you plan on selling soon, these minor adjustments can increase your asking price and bring in the buyers.

Bathroom

Quite on par with the kitchen, bathrooms are the next most popular room to renovate. Especially as life continues to become more stressful with never ending news cycles, and politics heating up. A calm sanctuary where you can wash off the day is becoming more and more popular for new homebuyers. The same numbers apply in the bathroom as they do in the kitchen. For a major overhaul, you can expect a return percentage in the high 80s. Go for the small operation, and you’ll make back all the money you spend.

Landscaping

For the most part, it’s an extension of the necessities, your landscaping. It’s the extra cherry on top. If you’ve got a great space for entertaining there’s more room to host guests while they mingle. But more than that, especially in terms of the front yard, it’s the very first thing you and others see. A beautifully manicured front lawn and garden welcome you home from each stressful day. It also catches the eye of potential buyers. Investing in your landscape to prepare for the market will bring back all its worth. Curb appeal plays a major role in the selling of homes. Get a jump on this and landscape a drought friendly yard before you plan to sell. You’ll save money on maintenance fees, which will just as attractive to future buyers.

New Doors And Windows

Replacing your doors and windows is a hefty project. But done properly, you can increase the energy efficiency of your home and also update it’s exterior. When you replace your front door, go ahead and swap out the garage doors as well, to match. New energy efficient windows don’t pay back the absolute best, but they do help reduce the amount of heat loss. Instead of brand new windows, recaulk around all your windows, and dress them with shutters, awning, or window baskets for flowers. Window dressings and new doors will also bring back their full value at resale.

If you’re gearing up to sell your home, or just want a wise way to spend money increasing the value of your property, any of these options will yield back high returns that are well worth their effort.

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