Unless you’re working on your dream home and money is no object, then most of us recognize that home renovations need to be reigned in by reasonable expectations and budget necessities. Some of us move into fixer-upper starter homes hoping to turn a profit when we move, and others are looking for a quick turnaround on a home flip, and then there are those of us who just can’t stand looking at the ugly cabinetry in the master bath for another minute! Before you get out the sledgehammer and checkbook, you’ll want to make sure to do some research on where the wisest places are to spend your dollars in order to get the best return on your investment in home renovations.
While it might seem that your best bet is going to be to take everything down to the studs and start fresh, minor remodels actually do a little bit better when it comes to home renovation ROI. Simple renovations in the bathroom mean that plumbing stays where it is and things like flooring, tile, the vanity, and other surface materials are refreshed. Clients love to see a fresh and clean bathroom, and they’re also willing to pay a little more for one.
Kitchens are another area where people invest a lot of their money– and with good reason! If your kitchen has a reasonable layout and quality cabinets, your best bet for maximum ROI is a kitchen remodel with some refreshing. Painting or re-staining cabinets, new hardware, countertops, and appliances can completely transform a kitchen while keeping your home renovation costs minimal.
Once you’ve addressed the inside, your next best bet is to take your money outside! Landscaping improvements and other exterior elements make great curb appeal. These things create a good first impression and help a home get more showings, so it’s a great ROI opportunity.
When you’re tackling home renovations, contact us at Home & Marine Builders of Lake Norman!
