No matter if the housing market is up or down, you always want to ensure home remodeling projects are wise investments. According to Remodeling Magazine’s Cost vs. Value Report 2011-2012, there are several home improvement projects that will provide significant enjoyment to you now and could recoup a majority of your dollars whenever you decide to sell.
Beautiful bathrooms: According to the report, a mid-range bathroom remodel ($16,000) can recoup up to 62% of the investment when it is time to sell…and in the meantime, add significant enjoyment with a new, relaxing retreat. To start determine which updates matter most and how much assistance you will need for each.
Complex projects, such as structural, electrical or plumbing changes or installing countertops or flooring, may be best left to the professionals. However, there are many updates you can tackle yourself. Painting is an easy and ideal do-it-yourself task that can make a large impact with minimal cost. Similarly, installing new faucets, accessories and showerheads can be simple, even for a novice.
Classy kitchen: Once you have updated your bathrooms, the kitchen is a rewarding home renovation that when done moderately can recoup up to 72% of your investment. Based on your budget, you will need to determine whether to update with a lower-cost laminate or a higher-priced option, such as granite or marble, that can offer an upscale look, added durability and functionality.
Lighting, while functional, also adds a significant style element to a kitchen. Replacing fluorescent fixtures with recessed cans or pendants will add ambiance and luxury to your room. Update your old appliances. Add a splash of paint to the walls and trim for a polished look. Finish off the counter area with a new high-end kitchen faucet.
Envious entry: It is the first thing your guests and future home buyers see when they approach your home, so if your front door is not appealing or does not have significant features, it is time for an upgrade. A new entry door adds instant curb appeal for a minimal price and can recoup up to 60% of your investment.
When choosing a new door, fiberglass options are an ideal choice. The material resists denting and scratching, is easy to maintain and can make your home more energy efficient.
Wonderful windows: Similar to the front door, replacing your existing windows with new vinyl windows will give your whole home a new look and feel, both inside and out, and payback of up to 68% of your investment. As a larger-scale project, this is likely a project left for the professionals.
Look to your local window distributor to refer you to a reputable contractor to ensure your new windows are installed properly. When it comes to selecting windows, vinyl is an all-around excellent choice. Unlike wood, vinyl windows resist rotting and do not require repainting. Unlike aluminum, vinyl windows will never pit or flake. Plus, you can enjoy a pay off immediately with increased comfort and lower utility bills, while potentially adding significant resale value to your home in the future.
