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So you’re thinking of remodeling your home? Ladies, if you’re like me, mentioning a home remodel to your husband gets you this response… “That’s a great idea! I’ve always wanted a detached garage! You know, somewhere that I can ‘work’…”  While most of us women were thinking more along the lines of remodeling our out-dated bathrooms into five-star-quality spas, complete with massage therapists (hey, a girl’s gotta dream!), the reality is that most homeowners dive into home improvements without considering the return on investment, or ROI, of their project. In today’s economy, it is especially important to get the most “bang for your buck.” So let’s count down the top 10 home improvements that add value to your home. And don’t worry ladies, you may actually get your spa!

ROI= Return On Investment per Dollar

#10. Roof Replacement – 67% ROI

Experts suggest replacing your roof ONLY if it absolutely needs to be replaced. Otherwise, maintain your roof with appropriate repairs to keep it in good condition.

#9. Basement Remodel – 75% ROI

Turn your basement into functional space by creating a guest bedroom, home office, entertainment room, etc. If you have the funds, you could even create an in-law apartment or rental unit. While this type of remodel can become expensive, it definitely will produce a return on investment.

#8. Deck Addition – 78% ROI

Add a deck or refinish an existing deck to create an enjoyable outdoor space. This type of remodel is becoming very popular and will entice buyers. You can save up to half of the cost of this remodel by doing the work yourself, but make sure you are prepared for the task at hand!

#7. Re-inventing a Room – 50-83% ROI

Adding square footage to your home always increases the value. However, it is a costly investment, and often spirals out of your initial budgeted range. A solution is to re-invent an unused space (attic, large storage room, etc.) into a functioning space that you can envision yourself and future buyers using often.

#6. Outdoor Maintenance – 83% ROI

Improving curb appeal is an important aspect of selling your home, and it can be as simple as replacing gutters or painting your front door. This is an easy way to add value to your home.

#5. Energy-Efficient Windows – 60-90% ROI

Not only will adding energy-efficient windows add value to your home, it will actually save you money all year round. Energy Star reports that you can save up to $500 a year! Plus, if you install Energy Star-rated windows, you can receive a tax credit of 10%. However, if you live in a newer home it may not be cost efficient to replace all of your windows.

#4. Flooring – 102% ROI

Hardwood flooring is extremely popular and is a great replacement for carpet. For those of you who live in older homes, you may be surprised to find great original hardwood flooring under your carpet. In this case, have it refinished!

#3. Painting – 112% ROI

Got a room in a wild color? Did your teenage daughter insist on neon lavender paint in her bedroom and now she’s moved on and left you with glow-in-the-dark walls? You definitely can benefit from this simple home improvement of painting, especially if you are thinking of selling. Go for a warm, but neutral color so potential buyers can see your home as a blank canvas.

#2. Bath Remodel – 80-130% ROI

 Remodeling an out-dated bathroom is an absolute way to increase your home’s value. If you make the right design decisions, you can expect a return on investment of up to 130% when selling! However, it is crucial to point out that having an adequate number of bathrooms in your home is more important for selling purposes than having one outrageously extravagant bathroom in a 4 bedroom house! In other words, put the money toward adding another much needed bathroom before remodeling your current bathroom that is in pretty good shape.

And finally... drum roll please……… The #1 home improvement is…

Kitchen Remodel – 60-120% ROI

Perhaps so much emphasis is put on the kitchen because we spend most of our time there! From preparing meals to socializing with family and friends, a kitchen is the focal point of our homes. This is why it is so important to make the right decisions when remodeling your kitchen. Sure, we all dream of a gourmet chef’s kitchen with enough space to accommodate full catering staff, but the truth is that most of our homes would seem silly with that type of extravagance. Instead, go for what fits the style of your home.

 

And of course, for all the “do’s” of home improvements, there are many things to avoid.  Here are a few we’d like to mention:

In-ground Swimming Pools

Whirlpool Baths

Sunrooms

Expensive Landscaping

And this one is for my husband…

Garage Additions :)

We'd love to hear about your home improvements. Feel free to leave a comment and even send us pictures of your project. And of course, Happy Remodeling!

 

Research came from the following sites:

www.hgtv.com

www.remodeling.hw.net

www.digiorgiinc.com

www.homeinsight.com

www.moneycrashers.com

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