There are a lot of reasons why homeowners may decide to renovate. From adding space for a new family member, to simply updating a room to better suit your personal tastes, renovations are a great way to make your current home fit your ever-changing wants and needs. And for homeowners who play their cards right—renovations can also be a fantastic way to increase a home’s value!
But all renovations aren’t created equal. In the housing market, certain upgrades are inevitably considered more valuable than others. So which home renovations can have the biggest impact on your bottom line?
Home Renovations That Increase a Home’s Value
1. Minor Bathroom Remodeling
Updating a bathroom is one of the easiest ways to add value to your home. According to Drury Design, the average minor bathroom remodel earns a recoup rate of about 102% at resale. This means if you put $10,000 into fixing up your bathroom, you can expect to increase your home’s value by about $10,200.
2. Landscaping & Exterior Improvements
Anyone who’s ever tried to sell a house knows the importance of curb appeal! While landscaping may not be our first thought when considering remodels, it can recoup a return of 100% at resale, according to HGTV. Likewise, exterior updates (ie, repainting, investing in new siding, etc.) boast a recoup rate of about 95.5%.
3. Minor Kitchen Remodel
Kitchens are one of the most frequently updated rooms in a home…and for good reason! While updating your kitchen probably won’t have quite the impact that updating your bathroom can, kitchen remodels still earn about a 98.5% recoup rate. A minor kitchen update generally runs somewhere in the neighborhood of $15,000. This means that with smart design decisions, you could increase your home’s value by up to $14,700.
Wondering How Much Value Your Remodel Project Could Add to Your Home?
Give us a call! With over 10 years of experience in remodeling, renovation, custom home construction, commercial development and more, we can help your family make the right decisions when it comes to improving your home in a smart, strategic way. Get in touch with us right HERE.