Home Remodeling Projects That Will Pay Off
Home remodeling can be quite costly, and without any returns in mind, the decision to remodel can be quite tricky. Overall any remodeling project will pay off because you are upgrading a specific area to current standards, but realtors and property analysts have seen greater returns when specific areas of the house are remodeled. Following are certain spaces that you’d like to focus on when remodeling your house to reap the greatest returns:
Kitchen was on the top, it remains on the top and it will likely stay on the top of ultimate ROI when it comes to home remodeling. The value of your property can increase by up to 15 percent by remodeling your kitchen and a 72 percent payback on your investment. You can change the cabinetry, upgrade the equipment or add a pantry and you are on your way to having a greater family and cooking time as well as adding value to your property.
The exteriors are the first impression that the potential buyers will have, and a simply remodeling project can greatly help make a good one. You can replace the exterior siding with new higher-end fiber cement for a fresher look and a stronger exterior. On average exteriors pay back a 78 percent on average.
Attic Bedroom Remodel
Just the addition of an extra bedroom will add greater value to your home. While changing your garage into a bedroom can be risky, as many potential buyers would most likely want a garage too, an attic bedroom can pay back 72.5 percent on average.
A luxury bathroom with a Jacuzzi or sauna will add more to your pocket than what will cost you. A fully functional bathroom might offer a good deal, but luxury bathrooms have shown 100 percent ROI in specific areas. If you aren’t planning on investing big, then simple lighting solutions, tile or flooring replacement or fancier faucets can also offer safe returns.
This might come as a bit of a shock, but yes, potential buyers do check the front doors, and if they don’t like what they see, they may not return! A steel front door has shown to have a projected 85.6 percent return on investment. Front door is an inexpensive fix that offers greater value in the long run.
Apart from these 5 remodeling projects there are others that also offer an above 70 percent projected return including garage door replacement, adding a wooden deck and vinyl replacement windows.