When you are ready to start planning your home remodeling project, it is best to know which upgrades are worth their expenditure and will produce the greatest Return on Investment (ROI) for your home.
Return on Investment (ROI) is the amount of money you can expect to make on your investment. For instance, if you spend $70,000 on a midrange kitchen remodel, if the ROI is 62.1 percent, you can expect that the value of your home will be increased by $40,000 or more. Use the following information to determine which custom home remodeling projects increase your value.
There are many buyers who feel the kitchen is the most important room in the home. Before you hire a custom kitchen remodeling service, you want to determine which upgrades are going to pay you back the most. According to The Washington Post, a midrange major kitchen remodel with laminate counters, energy-efficient appliances, and custom lighting is a valuable project.
When upgrading your cabinetry, selecting custom kitchen cabinets overstock or semi-custom cabinets is always a good choice. Stock cabinets are a “what you see is what you get” type of deal, and semi-custom cabinets offer just a few customizable styles. With custom cabinets, you have control over everything, including the wood type, finish and hardware. Your custom cabinets have a look of their own, so you do not have to worry about them going out of style.
According to 2019 Remodeling Cost vs. Value Report, the estimated Return on Investment (ROI) is 62.1 percent for a major midrange kitchen remodel, 59.7 percent for a major upscale kitchen remodel and 80.5 percent minor midrange kitchen remodel.
A bathroom remodel is another custom home remodeling project that is important for both you and your buyers. You want a bathroom that is stylish and comfortable, but remember to keep the function of this space in mind when planning your remodel.
A company that offers custom bathroom remodeling services can help turn your vision into a reality. For a midrange bathroom remodel, you can start with vinyl wallpaper and a ceramic tile floor. Vinyl wallpaper is always a good choice in your bathroom because it can withstand the moisture and humidity. When upgrading your shower, consider ceramic tile around a new bathtub, as well as temperature and pressure control for maximum comfort. Your other fixtures may include a vanity with a solid counter and integral sink, recessed medicine cabinet with lighting and a standard toilet.
Of course, you may have other ideas in mind, but these are just a few examples of the areas you may want to upgrade. Remember, your buyers also want to make sure the bathroom is worth the investment.
The estimated ROI is 67.2 percent for a midrange bathroom remodel, 60.2 percent for an upscale bathroom remodel and 62.5 for a midrange universal design bathroom remodel.
A basement is more than just a place to store belongings. From a playroom to a lounge to a home theater, remodeling this space is another project that can increase your value.
According to Home Advisor, you can add features such as a bathroom, wet bar and new walling. Install a hardwood floor to create a downstairs kitchen, den or home bar, or have carpet installed to create a lounge, playroom or guest bedroom.
Remember, a basement remodel is applied to a finished basement, as finishing the basement is another project altogether.
The estimated ROI for your basement remodel is 69 percent.
Believe it or not, your window treatments are another upgrade that can pay you back the most. Your windows are seen from both the inside and outside of your home, so you want to make sure they are presentable. In addition, you also want to make sure your windows can block out drafts and withstand the weather.
The Washington Post recommends replacing your double-hung windows with insulated, simulated divided light wood windows. If you want an energy-efficient option, make sure your new windows are low emissivity, also known as low E. For your finishes, you want stained hardwood on the interior and a custom-color aluminum cladding on the exterior. You can match the exterior trim to the existing color and finish, but you do not need to upgrade your interior trim.
The estimated ROI is 73.4 percent for an upscale vinyl window replacement and 70.8 percent for an upscale wood window replacement.
A custom home remodeling project is not limited to your interior. The exterior is the first thing your guest sees when visiting your home, so think of an exterior upgrade as your way of making a good first impression.
You also want to upgrade your exterior to ensure you do not turn any potential buyers away. Remember, your buyers may hesitate stepping into or buying your home if they see an outdated or damaged exterior.
Start by replacing your siding, which should include factory trim at the openings and corners. The next upgrade is your roofing, which is going to be removed until you can see the bare wood sheathing. Your old roof should be replaced with fiberglass asphalt shingles, and it may include two average-size skylights to increase your value.
The estimated ROI is 75.6 percent for a midrange siding replacement, 68.2 percent for a midrange asphalt shingle roof replacement and 60.9 percent for a midrange metal roof replacement.
Speaking of first impressions, have you thought of adding a deck to your exterior? A deck has become a popular feature among homeowners, so adding one to your home may catch the eye of potential buyers. If you are making these upgrades for yourself, imagine curling up with a book or hosting a gathering on your own wooden deck.
Are you planning to add a swimming pool to your backyard? Surrounding it with a wooden deck is sure to make a great impression on your guests and buyers, as well as create a backyard getaway for your family. A wooden deck is a great add-on for everyone all around.
The estimated ROI is 75.6 percent for a midrange wooden deck addition and 69.1 percent for a midrange composite deck addition.
When planning a custom home remodeling project, it never hurts to talk to your contractor to determine the value of your upgrades.