Remodeling any room of your home can be a huge undertaking. So, before you start that project you need to take a closer look at it to make sure it is going to be worth the time and money spent. If you’re planning on remodeling your home with the intention of moving out in the next ten years, you’ll want to make sure that the remodel you choose is worth it to you financially.
Remember, here at Pratt Remodeling, we’re you’re local remodeling experts. So, if you have any questions about what remodel makes the most sense for your home, be sure to contact us and we’ll help guide you through the process.
Here are the top five remodels that will generally bring you the largest return on your investment when you decide to resell your home.
Additional Living Space – This one is almost a no brainer. If you have space in your home that isn’t currently livable, like an attic or unfinished basement, turning those spaces into living spaces will bring a huge return on your investment.
In fact, in 2014 turning an unused attic into an attic bedroom brought remodelers the highest ROI.
Additionally adding on to your home to increase the total square footage tends to put the most money back into your pocket. Before demolishing the walls of your home, remember that this remodel is rather pricey, so be sure the square footage you adding to your home is worth the cost of adding foundation, a new roof, siding, and new windows.
Kitchens – Have you ever noticed how the family tends to gravitate into the kitchen? The kitchen really is the heart of the home and an updated kitchen can add tremendous value to your home. Counter and cabinet space is a must and granite counter tops are very popular at the moment.
Replace old appliances with energy-efficient models. Energy Star-rated appliances are better for the environment, and they also help you save money, because they use less energy.
Bathrooms – While the kitchen should be the focal point of your home renovations, according to the National Home Buyer’s Association, in 2011 bathrooms became more important to home buyers than kitchens.
Although since 2011 the kitchen has once again become the focal point of home remodels, bathrooms are certainly also very good investments. The bathroom should not only look clean and functional, it should also have a nice color scheme and accent features for an even wider appeal that will improve the look overall.
If you have the space, the more bathrooms the better. In fact, if you have the space to add one on every floor, go for it!
Curb Appeal – In 2014 projects such as window replacements, the installation of new siding, a garage door replacement, a front door replacement, and a deck addition all scored above a 60% cost recouped in the midwest, making them some of the best remodeling projects you can undertake.
Your home’s exterior is not only the first impression to most potential buyers, often it’s the only impression. Luckily most exterior changes are low cost, high impact improvements that will quickly raise the value of your home.
Other exterior related projects you can consider are; repainting your home, landscaping, and adding a front porch.
Adding a Master Suite – The unfortunate reality for kids is that homes are being purchased by the adults, and adults want a little space of their own. A master suite allows adults to have a their own private bathroom to relax in after a long days work. Additionally, since often there are two people enjoying the benefits of a master suite, a large walk-in closet is one of the only ways to make sure there is enough closet space for everyone.
Now that you know some of the top five remodeling projects when you’re looking to increase the value of your home, we hope that you can make a wise decision about your next project. Of course, if your project isn’t on the list, don’t let it dissuade you! It’s your home, so make sure it’s a place you want to live, not simply a place that the next person who comes along will want to live.