If you have been looking around your home and starting to feel like it looks a bit dated, or perhaps just does not function the way you would prefer, but do not necessarily want to move, it may be time to remodel. Often, if you like the bones of your home but just want to make some cosmetic or functional changes, a remodel will be all it takes to create your dream home.
If you have been looking around your home and starting to feel like it looks a bit dated, or perhaps just does not function the way you would prefer, but do not necessarily want to move, it may be time to remodel. Often, if you like the bones of your home but just want to make some cosmetic or functional changes, a remodel will be all it takes to create your dream home. But, renovations tend to add up quickly and when maxing out your budget to create your dream home you want to be sure that it will be an investment on which you see a return. Not all home renovation projects are created equal and some simply have a very low return on your investment and some have a very good return on your investment. You will need to determine what is simply worth it, regardless of ROI, and what you want to do to enhance the value of your home. Below are 3 home renovation projects with the best ROI so to better help you decide how to invest your money in your home.
· New Front Door
o While you may not have expected this to be on the list, a new front door will actHoually likely yield you one of the highest ROIs of any home renovation project. A new front door, which is a relatively easy home renovation project, will yield a 98% return on investment, which is nearly impossible to beat. If you are looking to sell your home this may be a great choice since a new front door will give your home a facelift, which will increase its curb appeal. And, since you will recuperate your investment, it is a perfect project for any homeowner.
· Kitchen Remodel
o If you intend to be in your home for a long time and want to design your dream kitchen, by all means, you should. But, not all kitchens need to be completely gutted to achieve an incredible kitchen. In fact, major kitchen remodels ($50,000+) will likely not yield a great ROI but minor kitchen remodels will. After all, most potential home buyers will not walk into a nice home, see a dated kitchen, and jump to make an offer. When potential homebuyers see that a home needs a big facelift in the kitchen they instantly see dollar signs but if you complete a minor kitchen remodel it may help your home sell more quickly and for more money. Remodeling notes that a minor kitchen remodel will cost, on average $19,226 and most homeowners see an ROI of 79.3%.
· Wood Deck
o Indoor/outdoor living is all the rage. When you can spend more time outside in a comfortable setting it essentially expands the square footage of your home by creating more livable space. What better way to create the ultimate outdoor oasis than with a wood deck? It is beautiful and timeless and according to recent reports, the ROI is favorable. A wood deck addition costs, on average, $10,048 and the expected ROI is 80.5%.