There is no better way to add value to your home then with a renovation project. But which remodeling jobs yield the highest return on investment? Well, this article from directory M provides the top three projects that will increase the market value of your home.
1) Kitchen Remodel: The kitchen is not only the heart of the home, but also the remodeling project that continues to show the greatest return on investment for homeowners. The kitchen is often the first room that potential buyers look at when they walk into a property listed for sale.
Spaciousness, functionality and maximum storage capacity are the three main aspect potential homebuyers are looking for. Of course you can try to tackle these projects on your own, but hiring a design professional is ideal (if you can afford it).
Kitchen remodels offer a 44% higher return on investment than the average return on other popular renovations
2) Bathroom Remodel
Bathroom renovations are second only to kitchen remodels in importance. After kitchens, bathrooms are the first room potential buyers tend to focus on. The more elaborate the bathroom the better. A recent study found that most potential buyers are looking for a spa-like bathroom with a comfortable environment.
Usually a bathroom renovation involves the complete replacement of existing finish and fixtures – tubs/showers, toilets, faucets, sinks, tiles, flooring, lightings, cabinetry, and tile-work. A typical bathroom renovation will yield a 56% better return on investment than the average popular renovation.
3) Floor and Wall Refinishing
The walls and flooring of a home are the first things potential homebuyers see.
Walls should be smooth and painted in a color that isn’t too much of a personal preference. A light and warm neutral color usually works best to both enlarge the look of a space, but also create a warm and desirable ambiance.
Repainting your walls can give you a 29% better return than other popular renovations.
Meanwhile, flooring can generate a 22% better return on investment than the average renovations. Choosing the right floor finish is important as it ties all the individual element of your home together.
Potential homebuyers are often searching for properties that are in “move-in ready” condition so that they don’t have to incur any extra costs when they move into their new home. Remodeling your home is a great way to provide yourself with some additional comforts for as long as you live there, while increasing your home’s potential resale value at the same time.
If have any questions at all, contact TW Ellis by calling 800-852-8335 or click here today!
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