Many homeowners are choosing to alter or remodel their homes rather than moving since selling a house can be a long, stressful, drawn-out affair. But what remodeling project will give you the best ROI (return on investment)?
The rooms considered most important as remodeling projects are the kitchen, bathroom and master bedroom (in that order) since those are the rooms most people spend most of their time.
There are other cosmetic changes you can make to your home that could significantly increase its sale price. But, according to Remodeling Magazine, minor kitchen improvements will recoup roughly 83% of your investment, depending on the housing market at the time of your sale.
You’ll never get that kind of ROI from adding a swimming pool or sun room or even a major bathroom project. A well-done improvement or upgrade of the kitchen will also shorten the time your house is on the market, in other words, you’ll get to move more quickly.
Improving the kitchen will also improve the quality of life while you’re still living in the house, perhaps so much so that you won’t want to move!
Depending on your budget, your kitchen refurbishment will be small or extensive. A minor improvement or upgrade can be relatively inexpensive and quick and could include:
- new fronts for cabinet doors and drawers or
- painting the cabinets and walls or
- replacing the cabinet hardware or
- improving/updating the lighting fixtures or
- replacing counter tops and appliances or
- improving, replacing or just a really deep cleaning of the flooring.
If your budget will stretch to it, adding features such as soft-close drawers and doors can add comparable value to ripping out the old cabinets and replacing them with high-end ones.
Planning and Executing the Changes
Whenever you’re thinking about changes to your living spaces, planning is crucial. Looking in magazines, kitchen/DIY design websites, remodeling programs on TV and show homes will give you ideas about what’s trendy and how some of these clever changes can be done on a shoestring budget.
Next, talk to people in stores specializing in home improvement and design. Simplygood4u.com is a great example. Show them what you have in mind and get as much advice as possible, plus costings, information about what products to use and maybe even names of people who can do the jobs you don’t want to tackle.
Keep the style of your home uppermost in mind with whatever changes you decide to make. Unless very carefully done, putting a contemporary kitchen into a Victorian house or mixing a cottage-style kitchen with a high tech home could prove disastrous. A poor mix of styles could actually decrease the value of your home.
Keeping your remodeling in character with the rest of the house should ensure potential buyers will be able to see themselves living in the house you want to sell.