Home improvement projects can be a great way to update your home and create a living environment that reflects your personality and style. Some home improvement projects can also have a good return on investment (ROI), meaning you can recoup some or all of the project costs when you sell your home.
The average ROI for a home improvement project is around 69%, but this can vary depending on the type and scale of the project. Some renovations, such as kitchen and bathroom remodels, have a higher ROI than others. However, even small projects, such as painting or landscaping, can add value to your home. If you are in need of home improvement services in Virginia, consider contacting an exterior remodeling contractor like Adelphia Exteriors.
However, home renovations can cost a lot, no matter the scale. So, it is important to make the right decision.
Home Improvement Projects with Good Return on Investment
Here are some of the top home improvement projects that will give you a great return on investment.
- Kitchen renovations
Kitchens are one of the most important rooms in a home, and they can have a huge impact on the property’s overall value. Fortunately, you don’t need to spend a fortune on a major renovation to see a significant return on your investment. Even a minor kitchen remodel can have a high ROI, with some studies showing that homeowners recoup up to 83.8% of their costs when they sell their homes.
Of course, any home improvement project is only as valuable as the quality of the work. That’s why hiring a reputable contractor who can do the job right is important.
Now, if you’re wondering, how do I find good kitchen remodeling experts near me? All you need to do is go online and search. It will help you develop a list of all suitable contractors that provide the service you need in your area. You can visit their websites, check their offers, and discuss your requirements to help make an informed decision.
As mentioned earlier, a full-blown renovation is not necessary to achieve the kitchen of your dreams. So, you can only focus on specific areas while planning the renovation. Some areas you can improve include the floors, countertops, cabinets, kitchen appliances, color scheme, etc.
- Hardwood floors
The flooring you choose for your home can significantly impact your home’s overall interior and aesthetic. While there are many options to choose from, you can never go wrong with classic hardwood floors.
Hardwood floors are not only trendy but quite sturdy as well. So, they can withstand the wear and tear of daily life while giving your home a timeless look. So, hardwood floors might be the way to go if you want a major and valuable change to make to your home.
Hardwood flooring can cost around $4 – $6 per square foot in addition to the installation charges. And this new addition to your home can increase its value by 3% to 5%.
- Swap Out Old Hardware
Replacing old hardware with new and modern hardware is an excellent yet affordable way to enhance your home’s overall appeal. You can change any old and worn-out hardware, like hardware in the kitchen, bathrooms, or doors. It is recommended to pick out modern hardware for your home to keep up with the current trends. And the best thing is you can do this yourself instead of hiring a professional and save money.
- Add A Fresh Coat Of Paint
A fresh coat of paint is a great, affordable, and quick way to give your home a new look and refresh the interior. These days, you can find many types of paint in the market along with eco-friendly options as well. So, the overall cost of painting your house can depend on the type, brand, and paint quality you are using.
While repainting your home, you can either refresh the old colors or choose a new color palette. You can also create a statement wall to help enhance the room’s interior. While new paint is a great way to update your home’s look, it can also give a good return on investment if you plan on reselling your home soon.
- Bathroom renovations
Bathrooms are also an important part of your home. An improved and remodeled bathroom can help increase your comfort and the value of your home. The average ROI for a bathroom model is around 70%, but it largely depends on the scale and type of renovation.
While bathroom remodels have good ROI, they can be pretty expensive. Luckily, you can make little changes to your bathroom to enhance its interior, look, and comfort and still get a good return on investment. For instance, you can replace shower heads, bathtubs, and hardware or add efficient storage solutions. You can also make simpler changes, such as adding a fresh coat of paint, painting the vanity, or swapping out mirrors. And you can also DIY some of these changes and save some bucks.
- Work On The Attic Or Basement
The basement and attic in a home often go overlooked and are mainly used for storage. However, these rooms have great potential for increasing the value of your home. It is because remodeling these rooms allows you to maximize the usable space in your home. Not only is this beneficial for you, but buyers also prefer a home with maximum usable space.
Overall, a basement or attic remodel can yield a good investment return.
Concluding Thoughts
Home improvement projects are an excellent way to create a home that’s more to your liking and fits your taste and style. However, certain improvement projects can also be beneficial in the long term. While the return on investment can differ according to the type and scale of the renovation, they can help increase the value of your home. Still, home renovations can be quite expensive. So, evaluating your options and making the right decision is important. You can also make little changes instead of going for a complete renovation. This can help you improve your home while staying within your budget.
