When considering a home renovation, it is important to work on a project that improves the aesthetics of your home in addition to ensuring it adds to the overall value. Everyone has different tastes, and some renovations add more value to a home than others.
Even if you don’t plan on selling your home anytime soon, you just never know. The objective is to work on a renovation that offers the most future benefits, while providing features you can enjoy.
To illustrate, a home office renovation can cost around $28,000–yet, only bring in around a 49 percent return when you sell your home. So, we’ve curated a list of the most profitable home renovations.
Replace the Garage Door
The world can sometimes feel like a dangerous place, so, home buyers and renters appreciate a home that is secure. One way to accomplish that goal is by replacing your garage door. This is something that can entice prospective buyers the minute they see your home. If they notice that the outside looks good, they believe the inside will match. Plus, an old garage door detracts from curb appeal. Head over to Prestige Doors if you’re in need of a newer, securer garage door.
Not to mention, older versions do not offer the insulation that newer models offer. So, a new garage door not only looks good, but it can also help to save on heating and cooling costs.
Financing Your Renovations
It goes without saying that renovations can add up. You can wait years to save enough cash to move forward, or you might consider home improvement loans. There is the other option of using a credit card, but if you have bad credit, you will have to deal with overwhelming interest rates. The last thing you want to do is to ruin your credit over one home renovation. Instead, a loan will give you the money you need right now, while allowing you to pay it off in installments. As a result, you can repair and remodel anything that is in desperate need of TLC, do not shy away from giving an overhaul to the interior design of your home.
Furthermore, by working on profitable renovations, you will get a return on your investment.
Remodel Your Kitchen
An increasing number of home owners are remodeling their kitchens. Why? Probably because a major kitchen remodel returns around 80 percent of its investment costs. Of course, this also depends on your home’s location and value. Truly, the way it looks has the most impact. So, peruse online home improvement magazines for ideas. Consult with your local hardware store for the latest trends, in your budget.
Use the highest-quality materials you can afford. And, stick with a modern design that is not too trendy so that it can hold its value for a longer period of time.
Add a Wood Deck
Many of us love to sit outside and enjoy our view, barbecue, eat and congregate with friends and family. This is why a wood deck is so popular. You can also expect around an 87 percent return on your investment cost at resale.
Not to mention, a wood deck increases the amount of living space you have in your home. You can often use it as a dining or living room area in summer and spring, or depending on the climate throughout the year.
Many older homes can benefit from renovations and repairs. Still, it’s important to choose a renovation that will improve your return on investment.
All images from Casa Lumaly by Agraz Arquitectos