Home Renovations: Projects With A High Rate Of Return

Blog

When deciding on home renovations, your personal style and the lifestyle of your family are very important. But if you're going to make a large financial investment in your home, it is productive to choose projects that add value to your home and offer a high rate of return so you can recoup a good portion of the renovation costs when you sell your home. Some renovation projects with the highest rate of return include:

Bathroom Remodel

If the bathrooms in your home haven't been updated in more than a decade, it may be wise to to invest your renovation dollars in a bathroom remodel. On average, a bathroom remodel costs just over $16,000, and includes replacing the countertops, fixtures, toilet, installing a tile surround in the tub/shower, and replacing the existing flooring with ceramic tile. You can expect to recoup 72.5% (approximately $11.700) of the cost associated with the remodel.

Kitchen Remodel

If you love cooking, you may be dreaming of renovating your kitchen and making it the perfect space. This is not a bad idea, as buyers love an updated kitchen, so a renovation can add to your home's value. Depending on the current state of your kitchen, you may want to consider a minor kitchen remodel; the average cost is around $18,900 and has a rate of return of 82.7% (approximately $15,600). A minor kitchen remodel involves replacing countertops, refinishing the cabinets, replacing flooring, updating appliances, and installing a new sink and faucet.

Replace Windows

Windows play a large part in how much it costs to heat or cool your home, so replacing your windows with new energy efficient models is not just attractive to future buyers, it will also save you money on your utility bills. When choosing new windows, you have the choice of wood windows or vinyl windows. Both types offer a high rate of return; on average vinyl windows will cost you around $9,975 to install, and you can expect to recoup around 78.7% of your investment (approximately $7,850). At an average cost of $10,900 to purchase and install, wood windows are a little more expensive, and offer a slightly higher rate of return of 79.3% (approximately $8,600). Contact a professional company, such as Sound Glass Sales, Inc., for your window upgrades.

Outdoor Deck Addition

An outdoor deck is a great place to enjoy time with family and friends, and they are also a very attractive feature to home buyers. Extending your outdoor living space is a sound investment of the funds you have available for renovations. An average deck will cost you about $9,500 to build, and you can expect a rate of return of 87.4% (approximately $8,300).

Share

19 November 2014

Pool House Parties: Building Your Backyard Escape

When I decided to turn my backyard into a pool and spa space, I wanted to have a pool house built. Adding a pool house would give me somewhere for everyone to shower and change without tracking pool water and dirt into the main house. I worked with a local contractor to construct a pool house with an outdoor kitchen, outdoor showers, and full indoor restroom facilities as well as a game room and changing rooms. I created this site to journal the process so that I could hopefully inspire others to do the same. I hope this site takes some of the mystery out of the construction process for you so you can build the backyard structure you've always wanted.