4 Home Renovations That Pay Off—And 2 That Don’t
Are you thinking about making some home improvements? Before you start swinging a hammer, it’s essential to know which renovations are worth your time and money—and which ones aren’t.
When it comes to home renovations, there are many things you can do to improve your home’s value. Some projects, like a new roof or windows, are always a good investment. Others, like adding on a room or renovating the kitchen, can be more hit-or-miss.
This blog post will discuss four home renovations that always pay off and two that don’t.
Let’s start with the most advantageous renovations.
Basement Renovations
A finished basement can be a great selling point for your home. It adds extra living space and can be used for anything from a game room to a home gym.
As seen at www.rebornrenovations.com, there are various ways you can finish your basement, and the cost will vary depending on the scope of the project. But in general, you can expect to recoup about 70% of the cost of a basement renovation when you sell your home.
When renovating your basement, it’s essential to keep the future buyer in mind. If you’re planning on selling your home soon, stick to neutral colors and finishes that will appeal to a wide range of people.
And if you’re not planning on selling anytime soon, feel free to get a little more creative with your design.
Roof Replacement
A new roof is one of the best investments you can make in your home. A roof protects your home from the elements, and a new roof will add to your home’s curb appeal. Most importantly, a new roof will keep your family safe.
The average cost of a roof replacement is $5000, and you can expect to recoup about 60-80% of the cost when you sell your home.
If your roof is more than 20 years old, it’s probably time for a replacement. But even if your roof is younger than that, you may still need to replace it if it’s starting to show signs of wear and tear.
If you’re not sure whether or not you need a new roof, it’s always a good idea to have a professional take a look.
Window Replacement
How are your home’s windows looking? If they’re old and drafty, it may be time for a replacement. New windows will improve the look of your home, but they will also make it more energy-efficient.
If your house has the original windows, they are probably single-pane and not very well insulated.
Replacing them with double-pane, energy-efficient windows will help keep your home cool in the summer and warm in the winter. You can expect to recoup about 60-70% of the window replacement cost when you sell your home.
The best thing is that you will start saving money on your energy bills when the new windows are installed.
Siding Replacement
If your home’s siding is old and worn, it may be time for a replacement. New sustainable wood siding can completely transform the look of your home and increase its curb appeal.
It’s also a convenient upgrade, as new siding will protect your home from the elements and help insulate it.
When choosing new siding for your home, it’s essential to pick a material that is durable and easy to maintain. The most popular choices are vinyl and fiber cement siding. You can also consider stone or brick veneer, but these materials are more expensive.
There you have the four home renovations that consistently pay off. Now let’s look at two home renovations that are not as beneficial.
Bathroom Upgrade
We can all agree that a bathroom is one of the essential rooms. But when it comes to resale value, a bathroom upgrade is not always worth the investment.
A mid-range bathroom will cost you about $20,000, and you can expect to recoup about 50-60% of the cost when you sell your home.
While a bathroom upgrade may not be the best investment, there are still some good reasons to do it. If your bathroom is old and outdated, a remodel will make it more comfortable and functional.
And if you’re planning on staying in your home for a long time, you can design it exactly the way you want.
Adding New Rooms
Adding a new room to your house may seem reasonable, but it’s not always the best investment. First of all, it’s essential to consider whether or not you have the space for a new room. If you don’t have an extra bedroom, you may be better off converting an existing room into a bedroom.
Another thing to consider is the cost of adding a new room. It’s not just the construction cost but also the cost of furnishing and decorating the new room. And unless you add a bathroom or kitchen, it’s unlikely that you will recoup the costs when you sell your home.
There are four home renovations that always pay off: a new roof, window replacement, siding replacement, and bathroom upgrade.
However, adding a new room is not always the best investment.
If you’re planning on selling your home, it’s important to consider which renovations will add the most value. And if you’re planning on staying in your home for a long time, it’s essential to choose renovations that will improve your quality of life.