These home renovations will give

By Kamesha Keesee

tHEsE HOmE REnOvAtIOns wILL gIvE yOu yOu gREAtEst REtuRn fOR yOuR InvEstmEnt

We’re not all in the world of carefully budgeting and calculating with spreadsheets to put ourselves on a realistic home renovation schedule. Some people are driven by their own style, tastes, and habits, and don’t care if it’s not a financially sound decision. Their reasoning is: “I’m doing this for me”. There are also those who want to get more value out of their homes once they’ve renovated them. In either case, the rule of thumb is to not spend more than you’ll get out of it in return. We did research to find out what remodeling projects will give you the greatest return for your investment, and here they are.

LIvING ROOM

The living room is the most important room in any home. This is the first impression that friends and family get when they come to visit. Designer upgrades to your living room sofa, love seat, coffee table, and side tables can give your home a more luxurious feel and a comfortable look. Selecting quality leather furniture for your living room will deliver a higher return on investment than a fabric sofa because of its durability, eliminating the need for frequent repairs or replacements. You can expect to see a return on investment of between 61% and 72%.

KITCHENS

The kitchen is the heart of your home, where family and friends gather for big meals and small talk during the holiday season. A basic kitchen remodel will include new cabinets, countertops, sinks, and appliances. Your return is a higher home value, and this is true whether you’re selling or staying.

If you’re renovating for yourself, it goes without saying that a kitchen would be the obvious choice. Don’t expect to recover the 100% ROI of your kitchen remodel though. You can only get about 54%, based on how much kitchens typically increase in value when selling. If this doesn’t bother you and you want a new kitchen, make sure it fits your personality and style.

BATHROOMS

The next big project is your bathroom, hands down. Adding luxury upgrades to your bathroom will not only make it more beautiful but also more functional, with new countertops, tile, and a series of other upgrade options.

Daltile projects a 70% return on investment for bathrooms, but again it depends on your situation. The rule of thumb is to budget about $3,400 for a mid-range basic remodel (countertops and floors), and the cost per square foot increases from there with custom tiles and fixtures.

CLOSETS

Shelving in your closet is an obvious choice for projects that will give you the best return on investment. You won’t need additional accessories to fill up your new shelves and drawers. You’ll see a 53% return on investment when you replace your outdated closet fixtures with designer shelving units.

START SIMPLE

One of the most important things when it comes to renovations is that they need to be done right. They also take a considerable amount of time because they involve planning and design. Prioritize what you really want to do, since it could be worth it then for you to just rush. Take your time, start simple, then gradually progress.

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References

https://www.homewyse.com/projects/remodel_living_room.html https://www.daltile.com/trend-hub/chips-tips/top-3-bathroom-remodels-for-bestroi https://www.ramseysolutions.com/real-estate/how-will-a-kitchen-renovationaffect-value https://closetsforlife.com/will-a-custom-closet-system-increase-your-homes-resalevalue/