Very rarely do people decide to renovate their home, or portions of it, because they happen to be bored with their current situation. There are far less expensive ways to cure your boredom. Trust us. The two main reasons homeowners renovate is to increase the function and value of their space. Where you see that value is in the return on the investment when you sell, or in the immediate reduction of your bills. So what’s going to get the most bang for your buck when you put your house on the market? Let’s take a looksie, shall we?
Minor Kitchen Repairs
Taking and maintaining first place in home renos is the kitchen. It’s no surprise that this room would be the top earner for homes as this is where a large portion of time and work are spent in the house. Food fuels us and there’s nothing better for your health or your finances than a home cooked meal. Upgrading to energy efficient appliances (especially if you’re still in the dark ages with non-Energy Star rated machines) will cost a pretty penny, but they’ll also drastically reduce your water and electric bills. Painting your cabinets, replacing knobs and handles, adding a backsplash or painting the walls, some floor replacements, and updating fixtures for your sink all fall under minor updates that will see a full return on their investment.
Minor Bathroom Repairs
Creeping up on the front runner, bathroom remodels are also popular and very fruitful in return on the investment. Same concept as a kitchen repair. New fixtures for the shower and sink, a new mirror, tiling the walls (a little more work and cost, but very durable and worth it in this humid setting) or snagging a low-flow toilet are perfect for sprucing up your space and will also likely return 100% (or more) of your investment.
Window and Door Upgrades
As far as updates that will also kick in immediately with energy conservation and cost reduction, replacing the drafty old windows and doors of your home create a dramatic new look for the exterior of your home and help lock in all that precious, moderately temperate air. 25% – 30% of a home’s air is lost through leaking doors and windows. Windows with low-e (low-emissivity) ratings and gas fillers help with the heat transfer between interior and exterior. Even the types of frames can affect how heat passes through a window. Replacing the windows of your home will bring a return of around 73%.
Whether you choose to update the entrance of your home, add a deck, or install new siding for your house, each individual upgrade will not only up your curb appeal, but it’ll bring your money back. These all will vary depending on the material you choose, but for masonry veneer siding (made to look like stone or brick, but not actual stone or brick) you can expect around 90% of the money spent to find its way back to you at selling. Deck additions not only cut back on the amount of grass you have to water, but wood decks will bring an average return of 70%, and entrance upgrades (new door, planters, etc.) can bring back 90% of your investment.
If you have any inkling that you’ll be selling in the near future and want a little more out of your home, consider any of these options. You’ll gain a fresh new feel to your home and increase its value by making it primed and ready for the market.