Renovations That Pay Off
When considering renovations to increase resale value, it’s essential to focus on projects that appeal to potential buyers and offer a strong return on investment. Here are some of the best renovations to consider for boosting resale value:
Kitchen Renovation:
The kitchen is often considered the heart of the home. Upgrading appliances, installing new countertops, refreshing cabinetry, and adding modern fixtures can significantly enhance the appeal of your property.
“Expect a return to traditional, alternatives to Shaker cabinets, and plenty of concealed storage. Connected to multiple rooms and key to cooking and entertaining, most kitchens are at the center of the home.”
Better Homes & Garden
Return on Investment
On average, a well-executed kitchen renovation may yield a return of 70% to 80% of the investment when the property is sold. However, upscale renovations with high-end finishes and appliances may have a lower ROI compared to more moderately priced renovations.
Butler Kitchen is on Everyone’s List
In the domain of modern homeownership, a self-sufficient prep kitchen stands as the pinnacle of indulgence, eclipsing the fascination of meticulously restoring a vintage air cooled Porsche. This supplementary space, seamlessly connected to the main kitchen, serves as an additional culinary zone for streamlined food preparation. “From back kitchens to butler’s pantries, alternative workspaces are rising in popularity, adding functionality and allowing consumers to complete separate tasks by serving as a second prep kitchen,” says Jeff Sweet, corporate manager of product marketing at Sub-Zero & Wolf. “With the option of being transitional or closed off behind doors, these secondary spaces can house everything from additional refrigeration and warming drawers to built-in coffee systems, wine storage, dishwashers, and more.”
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ROI on Kitchen Renovations
The kitchen is the heart of a home, the spot that everyone gravitates towards…
Bathroom Remodel:
A stylish and functional bathroom is a major selling point. Consider updating fixtures, replacing old tiles, adding a new vanity, and improving lighting. A well-designed bathroom can make a lasting impression on potential buyers.
Curb Appeal Enhancements:
First impressions matter. Invest in landscaping, a well-maintained lawn, and exterior improvements to boost curb appeal. This may include a fresh coat of paint, a new front door, or upgraded siding.
Energy-Efficient Upgrades:
Energy-efficient features not only attract eco-conscious buyers but also contribute to long-term cost savings. Consider upgrading windows, adding insulation, installing a new HVAC system, or incorporating energy-efficient appliances.
Where your dollars will go with a bathroom remodel
The cost of a bathroom renovation can vary based on factors such as location, the scope of the project, and the quality of materials used. However, some of the most expensive parts of a bathroom renovation typically include Cabinetry & Countertops, Fixtures, Faucets, Showers & Tubs and Flooring and Tile.
Cabinetry & Countertops
High-quality cabinetry and a stylish vanity can significantly contribute to the overall cost. Custom or semi-custom designs, as well as premium materials, can drive up expenses. Premium countertop materials, such as granite, quartz, or marble, can be costly. Additionally, the complexity of the installation and the need for custom cuts can add to the overall expense.
Fixtures & Faucets
Luxurious fixtures, such as designer faucets, showerheads, and high-end plumbing fixtures, can be expensive. Upgrading to a spa-like shower or a luxurious bathtub can be a major cost driver. Features like whirlpool jets, custom tiling, or high-end materials can add to the expense.
