Originally Published Oct. 4, 2015
If you’re considering investing money into home improvement projects this year, there are several factors to keep in mind in, among them, return on your investment depends on the value of your house, the value of houses in your immediate neighborhood, and the housing market where you live. It’s important to know which home improvements will ultimately pay off. A home that looks modern will fetch a higher home value. To get the biggest bang for your home improvement buck, consider these best home improvements:
The Kitchen is King
One of the smartest places to invest your hard-earned cash is in the kitchen. Your kitchen is where all the magic and legend of a house is spun. Spend the money on the layout– it never goes out of style. If you have a great layout, putting in new appliances, hardware and cabinets can be quick and easy. Consider the design of triangle. This is the prime space where your cook area, sink, and dishwasher meet to create an effortless flow when working. How far is your cook top from your sink? Is your dishwasher close to the sink? If you have the means to invest some money into your kitchen, make sure to place all your new appliances into a nice flowing workspace.
Basement Renovation
If you have a basement, finish it out. Whether it’s making it a recreational room the whole family can enjoy or suiting out that man cave of your dreams, finishing your basement can infuse instant equity and square footage into your home. Be sure you have a permit and that all the codes are followed. If not, the square footage may not be added to the rest of the house and may not be considered a “livable” space. Different states have different codes, so make sure to hire a contractor that’s certified and knowledgeable.
Boost the Bathroom
Just a few little improvements in a bathroom can be a really smart way to spend your money Install new fixtures, re-grout the shower, add crown molding and brighten up the room with some paint. In fact, a great paint job and nice architectural detail is easier and more impactful. Something as simple as a new mirror and light fixtures can make the dingiest of bathrooms looks fresh and fabulous. A little texture can make a bathroom go from shrinking violet to blooming beauty.
Attic Bedroom
Modern households often encounter all sorts of scenarios that require additional living space such as an elderly parent moving into the house or a child returning to live with the family after graduating from college. An attic bedroom conversion can sometimes be your best and cheaper option. Homeowners who convert their dusty old attic into a functional bedroom recoup on average about 83% of the project’s cost when they sell the home, according to the report 2015Â Remodeling Cost vs. Value Report. At an estimated $49,000 per room, converting an attic into a bedroom adds new livable space to your home. Moreover, it’s easier on your pocket–and less work–than the alternatives such as a family or living room which can easily run around $83,000.
Steel Entry Door Replacement
A brand new door makes a big first impression on potential buyers or renters. A steel door offers all of the attractiveness and strength at significantly lower cost. Homeowners who install a steel front door recoup on average nearly 129% of the project’s cost when they sell the home, according to the report. This is partially due to the fact that a steel door is less expensive than the alternatives such as fiberglass which can cost up to three times more than a steel door replacement, according to the report. Those with magnetic weather stripping can also make a home more energy efficient. The magnetic weather stripping seals in heat quite effectively.
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