Home improvements are a great way to add value to your property, but not all projects are created equal. Some will cost you an arm and a leg, while others may not add much value to your home. Below we’ll explore the top five home improvement projects that give you the most bang for your buck.
1. Kitchen Renovation
The kitchen is often referred to as the heart of the home, and for a good reason. It’s where we cook, eat, and spend time with loved ones. A kitchen renovation can be expensive, but it’s also one of the best investments you can make. A minor kitchen remodel typically recoups around 80% of its cost, while a major renovation can recoup up to 60%. Updating appliances, adding a backsplash, and replacing countertops are all great ways to give your kitchen a fresh look.
2. Bathroom Remodel
A bathroom remodel is another excellent home improvement project that can add value to your home. According to Remodeling Magazine’s Cost vs. Value Report, a mid-range bathroom remodel can recoup up to 70% of its cost. Upgrading fixtures, adding new tile, and replacing the vanity are all popular bathroom renovation projects.
3. Outdoor Living Space
The pandemic has made us all appreciate the great outdoors more than ever before. Creating an outdoor living space, such as a deck or patio, is a great way to add value to your home. According to the National Association of Realtors, a new deck can recoup up to 72% of its cost.
4. Energy-Efficient Upgrades
Making energy-efficient upgrades to your home not only saves you money on your utility bills but can also add value to your home. Upgrading to energy-efficient windows, adding insulation, and replacing your HVAC system are all great ways to make your home more energy-efficient.
5. Painting
A fresh coat of paint can do wonders for your home’s value. Painting the interior and exterior of your home is a relatively inexpensive project that can make a big impact. According to HomeLight, painting the interior of your home can recoup up to 107% of its cost, while painting the exterior can recoup up to 55%.
By investing in these home improvement ideas, you can not only improve the look and functionality of your home, but also make smart investments that will pay off in the long run. Enjoy it now and reap the benefits later – win-win! Are you looking to tackle one of these projects? Reach out to our team of licensed professionals today!
