Every year, homeowners put money into their home says Double D Home Improvement NJ based contractors, with the belief that any home improvements they make will add to the value of their home. That isn’t always the case, and some improvements will bring a far lower return on investment (ROI) than others.
Which projects will bring you the greatest return on your investment at resale?
Minor Bathroom Remodel
The top of the list for best ROI is a minor bathroom remodel, which brings an average 102 percent ROI at resale. With an average of $10,500 spent to replace your tub, surround, toilet, sink, floor, fixtures, and vanity, you’ll get back an average of $10,700.
If your tub is too big to get out of the house, re-glaze it to give it a brand new look, at a cost of $300 to $400. Get rid of old wall coverings and dated tile, and apply fresh paint in contemporary colors.
Offering a 100 percent ROI, landscaping tends to cost around $1,465 for a landscape designer and $3,502 for the landscaping. Some local garden centers may offer free design services.
For instant curb appeal, include a few splashes of color in the landscaping at the front of the house. Vary the height of your plants to add visual drama, prune any overgrown greenery, and replace old shrubs with flowering foundation plants. Be sure to include a charming focal point like a fountain or brick walkway.
Minor Kitchen Remodel
A minor kitchen remodel captures third place for return on a homeowner’s investment. With an average ROI of 98.5 percent at resale, a newer kitchen is a great investment. Kitchens sell homes�”and a scary, dated kitchen chases away buyers.
The average minor kitchen remodel runs about $14,913, and you’ll recoup $14,691 at resale. A minor kitchen remodel is perfect when your kitchen just needs updating, and not an overhaul of the floor plan.
With a budget of $15,000, you can re-face your cabinets and drawers, install a new wall oven, replace the cooktop, fixtures, and sink, and put in new laminate countertops and laminate flooring.
Give your cabinets an inexpensive facelift by sanding and painting them. You’ll have a fresh modernized look without the expense of replacing or re-facing them. Brighten up the space by changing the drapes and adding molding to the window.
Changes to youwr home’s exterior ill pay off big time at resale. Not only does it bring a 95.5 percent ROI, but that “curb appeal” is the first thing that brings buyers through your door. By investing an average of $7,239, you’l see an increase of $6,914 in the final sale price.
Painting your home will give you the biggest bang for your buck, at only a gallon of paint per 400 square feet of house exterior.
Use these tips to maximize your return at resale with a few smart decorating choices. By investing your time and money wisely in the areas that bring a greater ROI, you’ll have a beautiful home that you enjoy, and no home improvement regrets later down the line.