We’ve seen a huge shift to working and learning more from home than ever before. As a result, there’s been a boom in home renovations, and it’s become a seller’s market. But is it really worth investing in a remodel right now?
There are some home improvement projects that make financial sense, and others that simply make your home a more enjoyable place to be. If you can combine the best of both worlds, even better. Let’s take a look at some of the home renovation projects that offer the best chance of a return on your investment (ROI).
To Reno or Not To Reno
You probably know that kitchens and bathrooms are two of the big-ticket items when it comes to ROI. They can often be the more costly renovations to complete, which is why buyers love to see the work already done when browsing potential homes to purchase. However, even if you don’t plan on selling your home, these improvements can increase your home’s functionality and comfort for you, which is a value that is often incalculable.
Value Added by Certain Home Renovation Projects
If you’re interested in the best ROI on your projects, here’s what you might expect from some of your upgrades. Whether you’re considering adding siding to your Utah home or finally building out your basement.
Kitchen Remodel
The quality of the remodel can affect your ROI, but you could expect to recoup from 50-75% of your expenses when you sell your home. A newly remodeled kitchen trumps most other home repair projects since it serves as the hub of the home and needs to be both functional and beautiful.
Tips for a Kitchen Remodel
If a full-blown renovation isn’t in the budget or is too much to tackle while living in your home, consider making a big impact with minor upgrades. Invest in new appliances, new countertops, or refinishing existing cabinets. These improvements can go a long way.
Bathroom Remodel
The average ROI on a bathroom remodel is 70%. It’s comparable to a kitchen reno, but may be less of a hassle to complete. If you have more than one bathroom already, putting one out of order during construction is a minor inconvenience compared to not having a kitchen.
Tips for a Bathroom Remodel
A fresh coat of paint, a new vanity, or new flooring could be just what your bathroom needs. If you’re on a budget, prioritize what changes will breathe new life into your bathroom without breaking the bank of taking the commode out of commission for too long. Even a new mirror or light fixture can brighten up a bathroom and make it more inviting.
Finishing a Basement
If your home features an unfinished basement, it can be tempting to leave it as-is when listing it. Some buyers will appreciate the potential an unfinished basement offers, while others will see it as a deal-breaker. If you do decide to make your basement into a livable space, you could see up to a 75% return on your investment.
Tips for Remodeling a Basement
If your basement is framed and you want to make it more appealing to potential buyers, consider just finishing the wiring, plumbing, and drywall. This way, it still leaves the final touches open for the new homeowner to personalize the space while still getting some of the work out of the way.
Upgrading Siding
We all know curb appeal is important, but did you know that updating the siding of your Utah home may offer over 90% ROI? There are so many options when it comes to siding, so you can make the investment that best fits your budget while still seeing results. From Hardie Board to vinyl, Burbach can help you find a product that fits your home’s aesthetic.
Replacing Doors
It makes sense that a large exterior feature like a garage door can increase your home’s value. Like upgrading siding, installing a new door makes a big visual impact– not to mention an upgrade might also involve a quieter motor that makes using the door a less jarring experience. A high-end garage door replacement can offer over 90% ROI, while a midrange replacement might net closer to 70% ROI.
Energy-Efficient Windows
Anything that can reduce recurring expenses in your home is usually worth the investment. While the initial cost of energy-efficient can seem staggering, there’s the potential for a 74% return on your investment when you sell. Or, if you stay in the home, you can save hundreds of dollars per year on heating and cooling costs.
Landscaping
Would you believe that overhauling your landscaping could be rewarded with a 100% return on your investment? It all goes back to curb appeal and drawing buyers in without even opening a door. Simple designs are typically best, such as clean lines and native, unfussy vegetation.
Adding Outdoor Living Space
If you’ve invested in landscaping or maintained a beautiful yard over the years, it makes sense to either overhaul or add outdoor living space. If you take the plunge to add a deck or a patio to your backyard, you could see up to 90% ROI.
At Burbach Exteriors, we’re more than just Utah’s siding experts. We can help you with a variety of exterior upgrades to help you increase your home’s curb appeal. Whether you want to customize your forever home or prep to sell, let us know how we can be of service.
