Your home should be not only a place to rest your head, but also be seen as an investment. In most of our cases a house is the largest investment we will make in our lives. When planning a renovation or home remodel, it is important to know what upgrades provide the most return on the investment.
Trends can dictate which home remodeling projects are the provide the most ROI. In 2021 and 2022 upgrades such as home offices, outdoor entertaining spaces and basement conversions are considered to be amongst the best upgrades. Kitchens, baths, and upgrades that provide more square footage to the home always provide great ROI.
We list below some of the most popular and valuable home renovations that provide ROI for 2022.
Create Space with a Finished Basement
Basements are commonly used for storage and while storage is useful, it is not as appealing as the many options a finished basement presents. A home theater, playroom, home office, or an extra basement not only adds useable space, but another chance to put some design and beauty into your home. The top things to consider when planning a basement remodel are moisture, flooring, proper lighting, radon, and being built to code with regard to egress.
Kitchen Renovations for Sizable ROI
New modern and matching appliance, new or refinished cabinets, fresh tile and grout, faucets, and lighting all make a kitchen really pop. According to Zillow, the average kitchen midrange kitchen remodel can fetch up to 59% return on your original investment. A major kitchen renovation that might include a change of layout, wall removal, or kitchen island can return up to 53% of your investment.
Create a Home Office
People who work from home has risen over 150% according to Global Workplace Analytics making this home remodel a real turn on for many who are looking to purchase a new home. According to a 2021 article from Money “Data shows that homes with offices sell for about 3.4% more than homes without. That’s the difference between a $356,700 price tag (today’s national median) and $368,827 — over $12,000 more. Properties with home offices also sell nine days faster.”
Open Floor Plans are Never Going to be Undesirable
An open flor plan creates more light, airflow, and make the home look bigger. According to a NAHB survey, “…85% of buyers want an open layout between the kitchen and dining room; 79% favor an open arrangement between the family room and the kitchen, and 70% like an open layout between the family room and the dining room.”
Create More Curb Appeal
You can make your home stand out in a heartbeat by doing a few of these proven home upgrades that provide excellent ROI. By updating your walk and front entry you can make an instant visual impact. Brick walks, stone, or stamped cement can all provide a visual pop along with a nice front door with planters. Improve your landscaping by either trimming back or replacing overgrown shrubs. Refresh the color off your home or update the siding to make it look brand new. Stone facades are a nice natural effect. Garage doors are said to increase selling price by up to 4%.
The team at Remodeling Consultants have been serving Westchester and Fairfield county based homeowners and investors with countless ways to beautify your home and increase its value. Our team of designers and skilled tradesmen can do it all. From gathering the proper permits to scheduling and budgeting we make the entire process easy and stress free.
Contact us today to schedule your complimentary design consultation where we will listen to your ideas and help formulate a plan of action.