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One of the best things you can do as a homeowner is to use some of your home equity dollars to finance home improvements. Not only will the additions make your home more attractive [link widoczny dla zalogowanych] and pleasant to live in, but certain projects will bring a significant return on investment when the time comes to sell your home. The following 5 projects have been proven to add extra dollars to the average home [link widoczny dla zalogowanych] resell prices. The statistics are courtesy of “Remodeling Magazine.” ROI stands for “return on investment”
1. Minor Kitchen Remodeling: Average cost = $8,655. Average ROI = 88%.
A minor kitchen remodel usually includes replacing the cabinets and countertops with higher quality materials or increasing the total amount of cabinet storage and countertop surface area. It would also most likely include the addition or upgrade of appliances such as garbage disposals, built in microwaves, dishwashers, and higher quality refrigerators.
2. Bathroom Remodel: Average cost = $9,135. Average [link widoczny dla zalogowanych] ROI = 81%
This project would include things such as installing attractive countertops such as stone, granite, or marble. The fixtures would need to be upgraded and the shower and bathtubs should [link widoczny dla zalogowanych] be resurfaced. Also, any tiling [link widoczny dla zalogowanych] would need to be grouted. Other things that [link widoczny dla zalogowanych] could increase the value of a bathroom remodel would be [link widoczny dla zalogowanych] adding an extra [link widoczny dla zalogowanych] sink basin, converting a bathtub to a Jacuzzi, or installing additional showerheads.
3. Major Kitchen Remodel: Average cost = 31,090. Average ROI = 71%
The major kitchen remodel is very costly and will take much more work than the minor remodel. The major version will require all appliances to be replaced. Whenever possible, appliances should be made in stainless steel. The countertops should be made of stone or granite. The floors might be replaced with high quality laminate flooring. The addition of a kitchen island or a centrally located stove could work. For a major kitchen remodel, you should consult a contractor and [link widoczny dla zalogowanych] possible an interior designer. This is definitely not [link widoczny dla zalogowanych] a [link widoczny dla zalogowanych] do it yourself project.
4. Outside Deck: Average cost = $8,022. Average ROI = 55%
The deck is self-explanatory. The larger the deck, the higher the return on investment will be. The deck should obviously be coated with a nice looking finish that matches the outside of your home, and needs to be treated with a high quality water seal.
5. Hardwood Flooring: Average cost = Varies. Average ROI = Varies
The cost and [link widoczny dla zalogowanych] return on hardwood flooring varies greatly based upon the total amount of rooms and surface area is remodeled. Also, the choice in the variety of hardwood will impact the value. Certain woods like Oak and Cherry are more valuable than others. Also, it is very important to properly maintain your hardwood floors. Flooring that is scraped, scratched, dull, or water stained can actually decrease the value of your home. If you have active children, you might want to stick to carpeting.
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