Home Improvement Projects with the Highest Returns
There are numerous home improvement projects that you can undertake to increase the value of your home. If you want to increase the value of your home but don’t know where to begin, here are the top home improvement projects with the highest returns:
1. Major Kitchen Remodels and Entry Door Replacements
A kitchen remodel is one of the most certain ways to increase the value of your home. A well-designed kitchen is not only aesthetically pleasing but also increases the space’s functionality and makes cooking more enjoyable.
Major kitchen remodels have a 91% average return, while entry door replacements have a 90.7% average return. Both of these projects are excellent ways to increase the value of your home and make it more appealing to potential buyers.
2. Bathroom Renovation
A bathroom remodel, like a kitchen remodel, is an excellent way to increase the value of your home. Because the bathroom is one of the most important rooms in the house, it must be modern and stylish. Furthermore, a well-designed bathroom can be extremely functional, which is always a plus. When you sell your home, a typical bathroom remodel will recoup approximately 76.6% of its cost.
3. Room Addition or Expansion
Another great way to increase the value of your home is to add an extra room or expand an existing one. This is because you are increasing the square footage of your home, which automatically increases its value. Furthermore, if you design the new space well, it can stand out and become a selling point for your home.
4. Attic additions
Another excellent way to increase the value of your home is to add an attic. Attic additions typically recoup 61.2% of their cost, making them one of the more affordable home improvement projects.
5. Garage Enclosures
Garage enclosures are also an excellent way to increase the value of your home. Garage enclosures typically recoup 59.8% of their cost, making them an excellent investment for any homeowner looking to increase the value of their home.
6. Deck/Patio/Porch Addition
This figure considers both the home’s resale value and the enjoyment that homeowners get from their new deck during their time in the house. A deck addition is an excellent way to increase outdoor living space while also increasing the overall value of your home that will recoup an average of 90.3%.
7. Basement Remodeling
A basement remodel has an average return on investment (ROI) of 90.1%, according to Remodeling Magazine’s Cost vs. Value Report. A basement can be transformed into anything from a game room to a home office to a guest suite, and the extra living space will undoubtedly increase the value of your home. If you plan to sell your home soon, a basement remodel is a great way to add value and appeal to potential buyers.
8. Replace Windows
Homeowners who replace their windows can expect an 89.6% return on investment on average. This is one of the most profitable home improvement projects. In fact, one of the few home improvement projects that actually increases the value of your home is window replacement. Not only will it improve the appearance of your home, but it will also provide a significant return on investment.
Making even minor improvements to your home can result in significant returns when it comes time to sell. However, if you want to get the most bang for your buck, these are the home improvement projects to consider.