Tired of your floors? Desperate for new countertops? Want to give your home a makeover? Go ahead! Investing in home remodeling can pay off big when it’s time to sell. Generally speaking, for every $1 invested, you’ll increase the value of your home 75¢. In other words, when you invest $10,000, you’ll boost your home’s value $7,500. Home remodeling may be one of the fastest ways to up your home’s value on the real estate market. But where should you spend your money?
Cook It Up in the Kitchen
According to HGTV, the #1 home remodeling area in your home is the kitchen. And for good reason: it delivers the highest return on investment. While you could easily spend $20,000 or more on a kitchen upgrade, you don’t need to manage a complete remodel to see results. Simple updates, such as fresh paint, a new backsplash, refinished cabinets and upgraded hardware, a center island, and 21st-century lighting, all add value. You could even choose a little at a time, according to your budget.
If you have a bigger home remodeling budget, consider replacing outdated appliances with stainless steel. New countertops and updated flooring are also very attractive to buyers.
In a hot housing market, a kitchen remodel can bring an incredible 100% return on your investment—or even more—so focus your sights on your cooking and eating areas first.
Spa-like Bathrooms Pay Big Dividends
Where water flows, money follows. Kitchen and bathroom remodels provide the biggest ROI, so if your kitchen is up to snuff, focus instead on the master bath or even the powder room. Luxurious, spa-like bathrooms transform a simple master bedroom into a destination suite. But even minor home remodeling can make a big difference when focused on your home’s wash closets—up to 102% for every $1 spent.
Simple bathroom updates may include flooring, mirrors, lighting, and hardware. If bigger is your style, literally go bigger by expanding your bathroom or adding more storage.
Increase Your Home’s Curb Appeal
Everyone is drawn to a beautiful home—especially homebuyers. There are so many things you can do to the front of your home to make a big impact. A freshly painted front door (or garage doors) makes a big statement, and shutters instantly change the whole look of the home.
Lest you think it’s all about the home itself, remember your front-yard landscape. For a relatively lower investment, smart landscape choices generally garner a 100% return. Whether you prefer a low-maintenance desert landscape or something a little more tropical, you have many choices when it comes to your home remodeling in the yard.
Look around your neighborhood and see how your home’s size compares. If you have a two bedroom and most houses have three, perhaps an additional bedroom or den is the answer. When storage is at a minimum, consider a backyard shed, which may attract buyers who have more items and can save on the costs of an offsite storage rental.
If your plot isn’t large enough to accommodate a room addition, you may want to look inside. A home with four small bedrooms might sell better with three larger rooms, for instance. Transforming a garage into additional living space is a common choice in the Phoenix area, especially for older homes that started with two bedrooms and not much elbow space.
Seek the Help of a Knowledgeable Construction Company
No matter which direction you choose for your home remodeling projects, you’ll need a talented general contractor on your team. MAK Construction works with Realtors who help you determine where to focus your remodeling dollars to achieve the biggest return when you’re ready to sell. In the meantime, however, you’ll just end up with a glorious retreat.
Contact us to learn more.