Home renovation projects shouldn't be considered expenses, they should be considered investments. When you choose to breathe life into the right area of your home, you can most definitely increase the home's value all while making it more comfortable to live in. You don't have to be selling your home just to invest time and money into renovations. Here are four renovations that will offer you the best return on investment.
If you don't have a huge budget to renovate your home but you want to make a big impact, a few cans of paint and some painting supplies could make all the difference. Out of all of the options, it's the most cost-effective one to improve your home's appeal.
If you choose the right neutral colors with accent walls that make the interior of your home feel larger, you can experience a 112% ROI. Hold onto more of the return by doing the painting yourself. With the right rollers, and plastic sheeting from places like Plastics for Industry Pty Ltd. to prevent messes and spills, you can have the job done over the weekend.
The kitchen is one of the most important rooms of your house. If you have a larger sum of money to spend on your renovations, the best place to put the most time in is your kitchen. Now counter tops, refacing the cabinets, and investing in new kitchen tile could be all that your kitchen needs. It might be a very costly room to renovate, especially when you need appliances, but you'll get a return of about 168%.
If you've already spent time in the kitchen, the next best place to invest your money in the master bathroom. Typically, the master bathroom is where the homeowner will spend a lot of time relaxing. That's why making room for a spa tub and opening up space for a sitting area can offer such a huge return. If your master bath is dated, update the colors and the entire layout and you'll greatly increase the home's value.
If you live in an area where the warmer seasons allow you to spend time outdoors, why not build an area that's dedicated to just that? Building a wood deck will bring the entertainment outdoors. If you enclose the outdoor area, it'll add even more value because it expands the living space. You can recoup most of the cost in value.
You can renovate areas of your home without getting a huge return but those areas should become a secondary focus. Always focus your efforts on the tasks that will pay off in the end. After doing that, you can re-evaluate your home's value and see how much it's increased.