Did you know that almost three out of five homeowners have completed home improvement projects since March 1, 2020?
With everyone staying at home, comfort and organization became a priority. Homeowners were suddenly expected to live, work, learn, and play all in one location, and it was up to them to figure out how to make it all happen. While home upgrades can help do exactly that, they can also help increase home value — which is where we come in.
We’re here to tell you about seven of the best home renovations to help raise your home’s value. Read on to learn more.
1. Refinish Hardwood Floors
According to a report from the National Realtor’s Association (this report is where we found all our percentages), refinishing hardwood floors can increase your home’s value by up to 147 percent. On average, if a homeowner spends $3,400 on their project, they’re likely to get $5,000 back.
Not only that, but it almost feels like you’re getting a new floor after you refinish it. Whether you’re looking to brighten up your space or tone things down, refinishing your hardwood is a great way to do exactly that.
Even with a professional refinishing, you’re still saving a lot more than you would on a complete floor replacement.
2. Basement Conversion
Next up on the list, converting your basement into a living area can bring in an up to 86 percent return on your investment. Not only are you likely to get a large return on investment, but you’re also adding an entirely new living area, meaning you’ll have plenty of room to move around and get comfortable.
It can act as a separate play area for the kids, an office space during the day, or even a guest room when you have to have people over. No matter what you planning on using the space for, though, you’re going to be able to make great use of it, and you’re likely to want to stay home more as a result.
3. Bathroom Renovation
While a bit lower, a bathroom renovation is estimated to bring in a 71 percent return.
Renovating your bathroom can mean upgrading worn-out surfaces and materials, and it presents a great opportunity to add new features and improve the overall livability of the space itself. You can add new features like vanity lighting and a bigger bathtub, or you can keep things simple and practical with cost-effective flooring and double sinks.
4. Closet Renovation
If you’re ready to renovate your closet, get ready to see an 83 percent return on your investment.
On top of that return, though, you’re also likely to experience better living and functionality once everything is said and done. Not only are closet remodels great for adding new shelving and storage solutions, but they’re also a great time to rethink your wardrobe and everything that goes inside your closet.
Also, think about how you’d like to organize your clothes after everything is said and done. Do you have a lot of accessories you want to make room for? Can you have separate areas for different colors or types of clothes?
A closet renovation presents a great opportunity to rethink your entire style. Don’t be afraid to take advantage!
5. Garage Door
When it comes to outdoor conversions, your garage door is likely to return 100 percent of your investment.
A large reason that homeowners made this upgrade, according to the NAR, was either selling their home in the next two years or the simple need for an upgrade. Whatever the reason, getting a new garage door is a great way to give your home’s exterior a facelift.
When you trust professionals like Portes De Garage MB to get the job done, you know it’s going to be done perfectly the first time around.
While a little lower than a new garage door, new siding on your house still returns a good amount of your investment. Fiber cement siding can return up to 86 percent, while vinyl siding can bring back up to 82.
Not only can new siding bring your home’s exterior an immediate new look, but it’s also going to require less maintenance on your part. It’s also a great way to increase your home’s energy efficiency.
You know windows and doors are great for this, but you might not immediately think about siding. This renovation can help top energy leaks throughout your home, and it’s great for saving on your energy bills each month.
Windows, according to the NAR, can bring back 67 percent depending on the type of windows you choose to invest in. Vinyl is going to give you a 67 percent return, while wood is likely to bring back 63 percent.
While you’re most likely to make this change when you need new windows, you’re likely to find that they have a lot more aesthetic value to offer than you might’ve initially been aware of. You’re going to be able to see outside more clearly, and you’re also going to notice a lot more light being able to reach inside your house.
Besides that, like new siding, you’re also going to save on your energy bills each month.
Ready to Get Started With Your Home Upgrades?
Now that we’ve gone over a few of the best home upgrades to help increase value, are you ready to get started? Whether you’re about to sell your home or you’re just planning for the future, making changes to your home is a great way to make it your own and these renovations can do exactly that.
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