What is the value of remodeling?
Topping the annual ROI list in 2014 has been, surprisingly, a new steel front door; up to as much as 96.6 percent return on investment when the home is sold. A less expensive option if your front door doesn’t need replacing, is a quick paint job, which will make the entryway – the first thing visitors see – more attractive and inviting.
The most you’re likely to recoup from any home improvement project is 85 percent of the cost. Various studies show that kitchen remodels typically have the best ROI, followed by bathrooms, decks and siding all at about 80 percent.
The Kitchen
In home buying, the kitchen tends to be a top priority. Even if the buyers aren’t avid cooks, they still want to see updated appliances. Stainless for appliances and granite for countertops are popular. It’s also a good idea to have a tile backsplash installed. It’s a little more expensive, but well worth it, both for your own enjoyment and to appeal to future buyers.
It’s a good idea to avoid more unique, taste specific finishes – simple and classic always wins. A look that will match most people’s tastes will sell better.
Options for inexpensive upgrades that have high impact include new cabinet pulls, light switches, faucets, and doorknobs.
The Bath
The trend is for larger showers with seamless glass doors, and amenities like steam heads and in-floor radiant heat. But it still pays to keep different kinds of potential buyers in mind. Someday you might be selling your house to a family with children; they will want a tub in one bathroom.
Homes in neighborhoods that appeal to boomers and retirees benefit by having accessibility features for aging in place. The best of these designs look straight out of a boutique hotel, not a nursing home. More and more, we get calls to remodel bathrooms for accessibility.
In older homes, piping may need upgrading, in addition to other potential surprises that might be revealed once drywall is removed; be sure your budget includes an allowance for unknowns.
Other Improvements
A quality wood deck can return 87 percent of it’s cost; a deck adds usable space to a home’s living area and make it seem like a better entertaining venue.
Repairing entry doors and upgrading fixture now, before you have to, means you get to appreciate the benefits while you still live in the home. Don’t wait until just before you sell!
