Most people who own a home will do some home renovations at some point. However, many homeowners have no idea which renovations will bring them the most return on investment. The ROI you get is important, especially if you plan to sell your home at some point. If you are going to spend thousands or even tens of thousands of dollars on home remodeling, you want to make sure you are increasing your home’s value by as much as possible. Here are some of the projects that produce the most bang for your buck.
When people think about home renovations, most only consider the inside of the home, but one of the best projects you can do in terms of increasing value is landscape improvements. A well-done landscaping project can bring you anywhere from a 100% to 200% return on your investment. In fact, no other home project you can do will give you that much ROI. What you do in your yard can depend on your tastes and your budget. If you have a large budget and want a backyard oasis, you can add touches such as high end landscape lighting, outdoor kitchens and fireplaces. However, you don’t need high end landscape lighting and other expensive items to make your yard a great place. Things as simple as sprucing up your lawn and adding some trees and shrubs can give your home a value boost. Trees are actually a very good choice, because they can help reduce both pollution and your air conditioning bill.
Another great home improvement project that also includes the outside of your home is replacing doors. Replacing your front door and/or your garage doors are both things that will boost your home’s value by nearly as much as you spend on them. Another good thing about these projects is that they are fairly inexpensive. You usually can replace a front door for $1,000 or less while garage doors can run you $2,000 and up depending on the type of doors and the size of your garage.
If you want to concentrate on the inside of your home, turning unfinished space into finished space can be a good project. Converting a closet to a half bath or finishing unfinished attic or basement spaces are projects that will bring you anywhere from about 80% to 90% return on what you spend on them.
When doing home improvement projects, the key is to do things that will increase your enjoyment of the home while also boosting value as much as you can. Whether you choose to install high end landscape lighting or turn your attic into another bedroom, you can’t go wrong with these projects.
Trackback from your site.