Being a homeowner is a big responsibility. You’re responsible for all the taxes and insurance fees on your property, and then there’s the yearly upkeep and any maintenance that may need to be done. Despite it all, being a homeowner can also be a very rewarding experience, especially if you plan to spend many years in your home. Part of the fun of owning a home is making improvements on it throughout the years that will not only add value, but make your home a beautiful place for you and your family to live. Here are some of the most valuable home improvements you can make to your home and their average costs.
Kitchens are one of the most commonly used rooms in the home, so it’s no wonder why kitchen remodels are so popular among homeowners. A minor kitchen remodel which includes cabinet resurfacing, new fixtures, and cheap countertops and flooring averages $15,000 and can give you back a 98.5 percent return on your investment. If you want a more detailed remodel, however, you may want to invest in a major kitchen remodel, which can run anywhere from $40,000 and up and can give you a 90 percent return. Most major kitchen remodels include new cabinets and premium countertops, stainless steel appliances and sinks, and new flooring. To get the most out of a kitchen remodel, try to stay away from anything that may be seen as a passing trend and opt for timeless enhancements such as real wooden cabinets and flooring and energy-efficient appliances.
Aside from kitchen remodels, bathroom remodels are the most popular, sought after home improvement projects. As with a kitchen remodel, you can opt to make minor touch ups to your bathroom, which average around $10,000 to make and can recoup 102 percent of your costs or go for a complete remodel which will run closer to $30,000 and give you an average of 94 percent return on your investment. If you’re looking to make minor updates and enhancements to your bathroom, then a minor remodel may make the most sense. However, if your dream bathroom includes an expansion, walk-in shower, heated flooring, and ceramic tile, then a complete bathroom remodel may be more up your alley. You can find tips and tricks to turn your bathroom into an oasis online and may even be able to find a home improvement guide to help you stay on track with your remodel.
With the rise in popularity of man caves, basement remodels have seen a resurgence in recent years. Most basement remodels average between $40,000 and $50,000 and can give you a 90 percent return on your investment. Basements can be a popular area to entertain guests with features like built-in surround sound and a bar. Before you make an investment in a basement remodel, make sure your basement doesn’t accumulate moisture or have flooding issues.
Another popular area to entertain guests is in the backyard, which is why more people are investing in high-quality decks and patios. A simple deck can cost anywhere from $7,000 to $10,000 and up and give you a 90 percent return. If you want to add on extras like a pergola or roof, you should expect your costs to go up significantly. You can even get creative with your project by adding on built-in benches and planters, an outdoor kitchen, or wooden trellises.
If you have an expanding family and want to maximize your living space without adding on an addition or moving to a larger home, you may want to try an attic bedroom conversion. These popular projects average between $30,000 and $40,000 and can give you a 94 percent return on your investment. An attic bedroom is a great way to add extra space without building out or increasing your home’s square footage.
If you’re looking for a project that will add to your home’s overall value and provide you and your family with a comfortable, attractive living space, any of these projects may be a great place to start.