If you’re like the average U.S. homeowner, your home’s value is your largest investment in the future. Give this, every homeowner wants to maximize the value of their home before putting it on the market. One of the most effective and time-proven ways to do that is by remodeling your home. In this article, we’ll review the best renovations you can make to boost the long-term value of your home.
Remodel your kitchen
The kitchen is the beating heart of the modern American home. It’s the place where families gather, cook fresh meals, entertain guests, and just hang out. As such, prospective homebuyers are looking for stylish, yet functional, kitchens. If you want to add lasting value to your home, a kitchen remodel is a great place to start. On average, homeowners who remodel their kitchen see an 80.5% return-on-investment (ROI). Add in the benefit a new kitchen will have on your home’s curb appeal, and you can start to see why so many homeowners start here.
If you are planning on doing work in your kitchen, make sure you prioritize the cabinets, counters, and floors to get the most value. These “big ticket” items will most likely take up a majority of your remodeling budget, so you’ll want to find other ways to upgrade your kitchen without breaking the proverbial bank. For some ideas, check out the infographic below.
Take a fresh look at your bathroom
Just like a kitchen remodel, a master bathroom renovation carries a relatively high ROI. To get the best bang-for-your-buck out of your new bathroom, however, you should focus on finding smart places to cut costs. For instance, in most bathrooms, the general layout can stay while the room’s floors, vanities, and shower get upgraded or replaced. This cuts out the expensive and time-consuming process of having a professional move plumbing and electrical outlets.
Start with the shower. For most prospective buyers, a bathtub is a luxury, while a shower is a necessity. A modernized shower—complete with new glass, tile, and fixtures—can be a major attraction and selling point for the entire space. Again, just like with the kitchen, look for places where you can make your remodeling budget stretch even further. This includes replacing faucets and lighting fixtures.
Get to work on your backyard
So far, all the changes we’ve reviewed have been inside the home. But, what about the exterior? While improvements to your front yard landscaping are certainly advisable for making your home more attractive, you’ll generally see the best ROI by putting money into your backyard. If you have the space and it fits the style of your home, consider having a wood deck installed—this upgrade, on average, results in a 74.3% ROI. However, if you’re not ready to move forward with a deck, there are many other less expensive options to consider, including adding shade trees, extending your patio, adding a gas fire pit, or installing an outdoor kitchen.
Start by talking with a professional
Keep in mind that every city, community, and housing market is different. Major changes to a backyard—if there even is one—may not be as impactful in New York City as they are in a Midwestern suburban community. Always talk with either a local remodeling expert or your realtor to get their perspective on what upgrades you should focus on first. Plus, by working with a professional designer, you’ll be able to get an individualized plan that fits your home, your budget, and your direction.
Looking for even more design ideas? On the hunt for ways to add value to your home? You should check out this infographic from the team at Superior Stone & Cabinet in Phoenix, AZ. It has a complete breakdown of the high-ROI home remodeling projects, along with ways to stretch your remodeling dollar even further.