With the decline of the economy and the housing market over the last several years, many new home buyers have been forced to put their dream houses on the back burner until the market turns around. In lieu of a new home purchase, many current home owners are choosing to make renovations on their existing dwellings. This will not only bring a fresh environment for owners to occupy, but increase their resale value when the time comes. While there are a number of ways to make improvements, not all will bring a solid return on the investment. Let’s take a look at some remodeling projects that provide the best bang for the buck.
Arguably the most popular home improvement is the kitchen remodel. A kitchen redesign can offer one of the greatest returns on investment. Granite countertops are one of the most requested upgrades for new home builds and can be a great place to start. Updating cabinets are another good option. If replacing cabinets is not in your budget, consider painting or staining your existing units. Stainless steel appliances continue to be in high demand for buyers as well.
Bathrooms are another area of the home that can significantly raise value when upgraded. Like kitchens, bathroom countertops can be a good place to start. Alternatively replacing sink and cabinets with a vanity can be a stylish way to go. Wall and flooring treatments can really improve your space as well. Adding tile to floors, walls, or backsplash can really enhance the bathroom’s appearance.
Throughout the home, replacing or upgrading flooring treatments can offer a great value. Hardwood floors continue to be an attractive option to buyers. Replacing old carpeting can be a wise move as well. If purchasing new carpet is not an option, you should consider a shampoo or steam cleaning instead. Ceramic or stone tiles can greatly enhance flooring in entry ways, kitchens, bathrooms, and hallways.
Treating your walls to a fresh coat of paint can really go a long way. Neutral colors can offer the widest appeal to prospective buyers when you go to sell your home. You might also want to take into consideration the contrast between fixtures and furniture when choosing wall colors also.
As energy costs continue to rise and the public’s awareness of the environment increases, new windows can be a smart upgrade. Adding double pane windows can help conserve energy and decrease utility costs. Using an energy efficient window treatment can definitely increase value.