Two major questions to put into consideration when trying to decide what home remodels to do are: will the home improvement increase the worth of your home to you, and will it increase the value of your home to potential buyers, should you choose to sell your home in the future.
For a home improvement to be said to be valuable, the increase in the worth of the home must be in fair relation to the cost of the improvement. Although the term “worth it” is subjective and difficult to measure based on personal preferences, national data on home remodeling can be very helpful to know if you are getting meaningful returns on your home remodeling. The 2021 Cost vs. Value Report of the Remodeling magazine is a very useful resource to get some data.
The following are the six home remodels that are worth the price tag. For additional information, click “visit website.”
1. Manufactured stone veneer on the exterior
Enhancing your home’s exterior with manufactured stone veneer is one of the home remodels that are worth the price tag. Although it looks like a real stone, a manufactured stone veneer is not really a stone. It is an artificial composite material that is shaped in molds, installed just like stones. It is a great way to upgrade an outdated or boring exterior and improve your home’s curb appeal.
While it would be great to do the whole exterior of your home, installing the manufactured stone veneer in just the section of your front entryway will give you a great return on investment – up to 92.1 percent.
2. Garage door upgrade
While most homeowners do not find it exciting, the replacement of a garage door with a new model increases the worth of the property, yielding as high as 93.8% in recouped cost based on the national average. In fact, the Cost vs. Value Report shows that in some areas, the cost recuperation is 100% for this project. Obviously, this is a meaningful investment.
The best modern garage doors are made from durable and strong materials like steel, aluminum, and wood composites. They also come with high-performance additions such as insulation and energy-saving glazing.
Although not so great at weather resistance, wood gives your home an aesthetic and classy feel. Considering this, if you have a preference for wooden garage doors, it’s best to go for wood composites or fiberglass. These two options give the same look as wood, but with a weather-resistant advantage.
3. Adding wood decks
You probably have observed by now that the most valuable home remodeling tends to be the ones that are focused on your home’s exterior.
To improve the patio or deck of your backyard, wood is the best option. When compared to wood, the addition of a composite deck to your backyard will not yield as much return on investment. Wood deck addition will yield an average of 65.8%, as against the return of 63.2% on composite deck.
The dimension of the wood deck you will be adding to your home will largely be determined by the size of your yard. You may also want to add a railing system to it so as to improve its stability and function.
4. Replacing your siding and windows
When your siding is damaged, deteriorating, or old, it makes your house look dated in a way that’s not charming. Although not cheap, siding and window replacements are some of the most valuable remodels you can do to your home. Based on a siding purchase of 1,250 square feet, the cost recuperation can be up to 76.7%. Trim is also an important aspect when upgrading your siding as it contributes to its great look.
While upgrading your siding, do not neglect your windows too. The return on replacing your windows with low-energy vinyl is similar to the siding’s. It will also ensure that your old windows do not degrade the look of your new siding.
5. Remodeling your bathroom
Based on the national average, updating the fixtures, tiles, counters, toilets, and lighting are a part of a mid-range bathroom remodeling that can give you a return of up to 70%. However, doing more doesn’t necessarily translate to more returns. For example, the addition of a new bathroom will only give 54.6%, and you will only get a 56.2% return on an upscale bathroom remodeling.
Your bathroom can also be improved to be universally accessible. This is one of the home remodels that will add the most value to your home.
This bathroom remodeling will include:
- Expanding your doorways for wheelchairs
- Installing support bars close to the toilet
- Getting the light switches lowered
- Adding a walk-in shower
While these additions may not mean much to many buyers today, they will make sense soon, especially now that we live in an aging society.
Thoughtful modifications for more accessibility will become a major appeal as homeowners and buyers age with time.
6. Upgrading the kitchen
The kitchen is one of the sections of the home that most buyers will check out first to decide whether the house is worth its asking price. That is why upgrading your kitchen is valuable home remodeling.
Depending on your objectives and budget, there are many improvements that you can do to your kitchen. You could paint the cabinets, install new countertops, and get stainless steel appliances that are energy-efficient.
The good thing about kitchen remodel is that it doesn’t have to be expensive to get a huge return. A mid-range kitchen remodel can yield about 57.4% of its cost. However, when it comes to a major upscale kitchen remodel, the reward is not necessarily more (just about 53.9%).
The most rewarding minor kitchen improvements include getting brand new appliances, adding modern countertops and cabinets, upgrading the flooring, and upgrading the faucet and sink.
Before you go ahead to do your home remodels, it is better not to just assume that a project will certainly yield a return on your investment. Therefore, take time to do your research.
You may also want to note that all the data given in this article are based on the national average and it would be more helpful to find out what’s different with your specific region and city.