With the real estate market booming right now and houses selling at an all-time high, it’s a good idea to start thinking about how you can get the biggest return on your investment in 2022. When your list of home renovation projects is more than a mile long and your bank account is nowhere near being able to accommodate the entire list, you need to determine which projects are most worth your money.
It is incredibly important that you keep at least two things in mind when you are making decisions regarding home renovations: 1) What projects will add the most value to your family’s life, and 2) what will add the most value to a potential home buyer? It is incredibly difficult to quantify the value that a renovation will have on your life, but it is a good idea when it comes to the renovations that matter most to the majority of individuals. Find a nice balance between the two, and it will be easier to make an educated decision on how you should spend your money.
Before anything else, if there are any maintenance-related issues in the home, such as mold in the basement, leak in the roof, etc., they need to be at the top of the list. Over time, small problems can become bigger ones, and by staying on top of all of the home maintenance, it will ensure your home remains functional and livable. If you plan on selling your home in the future, a home inspection will reveal all of these maintenance issues and it will not matter how fancy the kitchen is if prospective home buyers see how much it is going to cost to fix a leaky roof.
Curb appeal matters more than you know. Curb appeal can make a huge difference on the way you feel when you come home from school or work, and it makes a difference on whether a prospective home buyer will decide to step inside the home to consider looking around and making an offer.
Take a good look at the landscaping. Can it be improved? Even some new plants and fresh mulch can make a significant difference. Updating your garage door has the potential to yield over 98 percent in recouped costs, while manufactured stone veneer has the potential to yield 97 percent.
A brand-new door, or at the very least a freshly painted door, is a simple project that you can do on your own and can boost the curb appeal and value of your home.
The kitchen is ultimately considered the home’s heart, and it is no secret that the that functionality and beauty of the kitchen is important to being able to enjoy the space. The kitchen is by far one of the most important and valued rooms for prospective buyers. The great news is that a major renovation is not necessary to ensure that you get the most bang for your buck. It is possible to perform a minor upgrade, such as adding a backsplash, refreshing your cabinets, upgrading the countertops, etc, and be able to recoup around 80 percent in costs whereas a major remodel will only allow you to recoup roughly 60 percent in costs.
When a bathroom remodel is done right, it will allow you to enjoy and relax in the space. Functional and beautiful bathrooms tend to be valued by buyers. Similar to the kitchen, a complete overhaul is not necessary in order to reap the benefits. Minor projects, such as replacing fixtures and mirrors, regrouting tile, and replacing the toilet, can enhance the space immediately.
New paint can immediately revitalize a space, allowing it to feel more clean, spacious, welcoming, and new. Select colors that you like if you intend on staying in the home for some time. If you intend on moving in the near future, select neutral colors that will appeal to an assortment of individuals. Painting is one of the easiest ways to make a major difference in the way your home looks.
Home remodeling can help you get your home updated so that it’s ready for resale. If you don’t plan on selling your home in the foreseeable future, then we can help ensure your home is functional and enjoyable while you’re there.
Whether you’re considering a home renovation because you have a growing family, or want to increase the resale value of your house, our team of professionals can help you through every step of the process. We are based out of Lexington, SC but provide home renovation services across the Midlands. Give us a call today at (803) 518-9873 to get a free home renovation quote.