Top Summer Remodeling Projects that Increase Your Home’s Value
There are many remodeling project options that can increase a home’s resale value and add plenty of enjoyment as well. Budget-minded buyers want a home that is sustainable, energy efficient, and will last a lifetime. It is important to know what improvements will best increase home value without breaking your budget. If you’re planning to remodel, you should concentrate on projects that are energy efficient and add character and comfort to your home.
1. Kitchen Remodeling
There is no doubt that the kitchen is often viewed as the most important room in the house. It is where many families spend the majority of their time which makes it one of the most essential selling points for prospective buyers. According to HGTV, homeowners can expect up to 120% return on investment on a kitchen remodel. Gourmet kitchens updated with chef quality appliances will increase your value even more. You may not need a complete kitchen overhaul, but it is important to consider energy efficient appliances that use 10-50% less energy and water than ordinary appliances. New appliances can add appeal and functionality to even the smallest of kitchens and are a great investment if you are looking to increase the value of your home.
|KHI specializes in kitchen remodels|
2. Adding Siding
Curb appeal is the first thing people notice about a house. Upgrading a home’s siding can result in a significant increase in curb appeal and overall home value. Replacing siding makes financial sense as Remodeling magazine's annual Cost vs. Value report ranked adding fiber-cement board siding to your home as the best home improvement investment. It offers a return at resale net of up to 86.7%. Fiber-cement products are a durable, low-maintenance alternative to wood and vinyl. They are very strong and are highly resistant to fire, wind, insects, impact, and moisture.
3. Adding a Deck
A new deck will increase the value of any home. While there are several ways to add living space to your home, few are as cost effective as building a deck. According to HGTV, you can expect up to a 90% return of your investment just by adding a deck. Many people are choosing to stay home for vacations, which makes outdoor living spaces more desirable. A new deck is a great option whether the owner is looking to sell, or just add a new space for their family to relax. You can add an outdoor kitchen with a built-in grill, refrigerator and working sink, or simply include built-in furniture such as benches. Deck additions and remodels also make the house more appealing to prospective buyers when the homeowner decides to sell.
4. Fresh Paint
A new paint job is one of the most inexpensive and time-effective ways to give any home a more crisp and newer look. When selling a house, one of the first things a Realtor will suggest is a fresh coat of paint. The return on investment of a quality paint job is among the best investments a homeowner can make, bringing up to 112% of the cost that you paid. Fresh paint, in modern colors, will update the look and feel of any room. When choosing the perfect paint, color isn’t always the only factor to look at. Homeowners might want to consider using low-VOC paint, which makes your home more eco-friendly. Low-VOC paint also lets you avoid breathing in dangerous chemicals like benzene, an off-gas found in regular fresh paint.
For many homeowners and buyers, energy efficiency is a priority. To prospective buyers, outdated, drafty, single-pane windows are a major turn off. Adding a new set of windows to a home can give it a bright and updated look. In addition, Energy Star states that adding Energy Star-rated windows can save homeowners up to $500 a year in heating and cooling costs. HGTV states that homeowners who install Energy Star-rated windows can also expect up to 90% return on their investment. The efficiency and return on the investment are great reasons to upgrade your windows now. In addition, new advanced energy efficient exterior doors not only increase curb appeal but can stop drafts and save you money.