The average home remodeling project can cost anywhere between $7,000 to $123,000 for an upscale project. While remodeling a home can come with an expensive price tag, there can be a lot of benefits that will add to the value of a home.
If you’re looking to sell your home and want the best price possible, you need to learn about the best value home remodeling projects. Read on to get started.
1. Bathroom Remodeling or Addition
Bathrooms are one of the best remodeling projects when you’re trying to get a great return on investment. By adding another bathroom, for example, you can get back an average of 86.4 percent back more of what you invested.
If you plan on adding another bathroom to your house, you can use an underutilized space such as a closet to turn it into a bathroom. To create half a bathroom, without a shower, you need 18 square feet, and to create a full bath, you need 30 square feet.
However, if you want to remodel an existing bathroom, you can either replace the tub, the toilet, and vanity or upgrade the existing ones. If you don’t have the budget to replace an entire bathroom, a little paint and new tile will go a long way.
2. Energy Efficient Windows
These days many people searching for a home want to see ways to save extra money on their energy bills. Learning that a home they’re looking at has energy-efficient windows is a big incentive for potential buyers.
Changing all of your windows to energy-efficient windows will give you a lot of leverage when trying to sell your home. Not only will you get an Energy Tax credit, but you will get a 60 to 90 percent back on your investment.
You will also save money on your energy bills by switching to energy efficiency windows. On average, you can save $500 a year on cooling and heating costs.
3. Finished Basements
When buyers come across a finished basement when searching for a new house, they see all of the possibilities, such as entertaining space, playroom, and more.
If you want to make changes to your house that will bring you a great return on your investment, underutilized basement space is a great option. To make the most of a basement, you can add a bar equipped with a sink, small kitchen, and even a bathroom.
4. Kitchen Remodel
A kitchen remodel is one of the most popular ones because homeowners can get back 60 to 120 percent on their investment. While, on average, one can spend $18,865 on a minor kitchen remodel and up to $54,909 on a full remodel, there are many ways to make it work into your budget.
For example, if you’re more focused on state of the art appliances, you can put all of your money into getting a range, refrigerator, and dishwasher.
When you go this route, some people focus on repainting and sprucing up the cabinets rather than replacing them. You can opt for changing the hardware, faucet, or even changing the flooring.
However, if the appliances are in good condition, you could always replace the cabinet and the backsplash.
There are many ways to remodel a kitchen in ways that fit your budget and still give you a great return on your investment.
5. Adding a Deck
Many people love to entertain guests on their decks, which is why decks are a great addition to an outside space. Not only does it add more square-footage to a house, but it also increases curve appeal.
When adding a deck, homeowners can spend 65 to 90 percent back on their investment. However, adding a deck can cost anywhere from $1,200 to $10,000. To save on costs, many homeowners decide to build the deck themselves.
If you want a professional to build a deck, try a service like russremodel.com.
6. Adding a Second-Story
Although adding a second story to a house is not an easy remodel project, it’s one that will bring a high return on investment.
Adding a second story to a house can cost, on average, $155,365, but the additions could mean a greater return when you decide to sell. For example, by adding a second story, you will add one to two more bedrooms, a bathroom, and even a second family room.
When you decide to sell, you will get a return of investment of up to 71.8 percent.
7. Attic Remodeling
Another great project to add value to your home is remodeling an attic. Rather than letting the attic collect dust and using it as storage, remodeling it can be a great addition.
Although remodeling the attic won’t add square footage to a house, it will add to the overall value of the home.
The attic will serve as an extra guest room or a family room.
8. Garage Door Replacement
If you want to enhance the curve appeal of your house, replacing the garage door is one of the best ways to do it. When the garage door is old or beat-up, it will decrease the value and curve appeal of your home.
Changing a garage door is one of the least expensive ways to upgrade your home and get approximately 83 percent ROI.
9. Basic Updates
Those who aren’t ready to make big upgrades to their home can start by making small changes. Basic updates can go a long way when it comes to home improvement.
For starters, you can start by painting the exterior of the house, replanting new grass, replacing damaged plumbing, and more.
10. Energy-Efficient Insulation
Aside from installing energy-efficient windows, you can also add energy-efficient insulation to your home.
The proper insulation can help you keep your home cool during the summer and hot during the winter. By adding insulation to your home, you can save hundreds of dollars a month on energy bills.
These are the Best Value Home Remodeling Projects
Now that you know what the best value home remodeling projects for your home are, you can get started. The best remodeling projects that will add to the value of your home are energy efficient windows, bathroom additions, kitchen remodels, and more.
If you want to learn more tips, check out the rest of our blog.