When looking to remodel your home, what comes to mind? Kitchen? Bathroom? Maybe finishing or even starting on the cold musty basement? Those are some of the most common and are usually the first to be redone. Whether you are looking to move in the near/far future, or just looking to give your home a bit of a face lift, it's important to put your money where it will count rather than dumping it in an addition that will not add any value to your beautiful home.
This post aims to clarify which renovations are the most profitable and the ones you can possibly put on the back burner.
Decks/patios On average, decks can be built for around $15,000, allowing the home owner to recoup just about $10,000 of the cost!
Attic Much like a basement,
attic renovation can increase your square footage as well as your home's overall value. While renovating the basement can increase your home's value in an affordable fashion, renovating your attic is typically cheaper and offers a larger return when it comes to resale.
Master bathroom
Not only does this renovation add value to your home, it costs under $10,000 and allows you, the owner, to get a little enjoyment out of it as well.
While the inside of your house and the little things you do to maintain them can be important selling points, the body (your house) is just as important -- if not more important -- than the guts. When renovating the outside of your home, even the smallest change can make a difference. While adding a second floor to your ranch will provide an 85 percent return on investment, this is definitely the most expensive home improvement we will discuss on this list.
WindowsReplacing your old windows with new energy efficient windows can save you money in regards to
heating and cooling.
Siding
This renovation tops in at number one as the most profitable renovation project and the cheapest, running just under $9,000 on average. Not only does this make your home easier on the eyes, it also makes it easier on your wallet and more energy efficient.
When adding to your home, it is important not to over-improve; the goal is to improve the value of your home but not so much that it will scare away buyers. Keep in mind the "base-level" of your neighborhood and go from there; if you don't know what that is, attend some open houses in your area and get an idea of what renovations are just right.