If you are considering home renovations with an eye toward return on investment, then there are a handful of areas you should focus on over others. It’s important to prioritize what the average homebuyer values most and not necessarily what you would want from purely an aesthetic standpoint. Here are the places in your home to focus your attention.
The Kitchen
One of the best renovations for return on investment has got to be the kitchen. Most experts agree the kitchen holds the most clout when it comes to ROI, and it’s where many would-be buyers go to first when they enter your home. The sky is the limit when it comes to potential kitchen renovations, and whether you choose to go big, medium or small, this is one area that deserves your attention for home improvement ROI. Depending on your budget, a kitchen renovation might include new flooring, countertops, appliances, cabinets, sinks, lighting or some combination of these.
The Bathroom
Bathrooms are like sanctuaries to many people, and remodeling your bathroom is a great renovation for a return on investment. Consider adding a new shower or vanity, updating hardware and fixtures, adding new tiles to the floor or a bold paint job to make a splash. If your plan includes reorganizing the plumbing in the room, it will make a bigger dent in your budget, but the results will be spectacular.
The Floors
The right floors have the potential to make your home look classy and stylish. Since they extend throughout the house and your eyes are drawn to them as soon as you walk in the door, it makes sense that floors would be a good renovation investment. Whether you choose hardwood, laminate, tile or something else, be sure to think both short and long-term when making your decision.
The Basement
The fact that a finished basement often doubles the living space in your house makes it one of the best renovations for return on investment. Whether you opt for additional bedrooms, a small apartment, a family entertainment area or just an extra living room, a well-designed and built basement can make a big difference if you ever want to sell.
Professional Painting
Painting may not seem like a “renovation” but it is one home improvement that’s undervalued. When minor damage is repaired, trim is sealed and high-quality paint is applied to any area of your home, it instantly adds new life and excitement and gives a new perspective of the space. This is especially true with just the right colours and an expert application.
Major Renovations
If your home is outdated, completing many rooms or entire floors in the home is the best solution. The benefits of doing whole home renovations; such as, second floor additions, full floor remodels, or large extensions to the home, is that you will have one cohesive design throughout. In and of itself that adds value to your home. Potential home buyers are interested in having a home that is completely updated and cohesive.
The sky is the limit when it comes to major renovations. Adding a second floor addition for extra bedroom space, a first floor extension for that extra-large kitchen, or a full floor remodel to make your home open-concept will create a functional and beautiful space for you to live in. A quality major home renovation can be achieved with the correct contractor. At GBC Design + Build our expert contractors and designers will create a space that is not only beautiful and functional but will also provide you with an amazing ROI.
Spending time indoors shouldn’t be a nuisance. Enjoy your home and add value with custom renovations completed by the experts at GBC Design + Build.
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Sources:
https://blog.remax.ca/best-home-renovations-biggest-roi/
https://www.bigsteelbox.com/resources/renovations-for-best-return-on-investment-roi/
