What are the best renovations to do to your home
Sadly, not every home renovation is a good idea as there is always a chance that it might not offer a good return on investment. A lot of times, most of the upgrades that you make to your house end up costing hundreds and thousands more than they are actually worth. So, if you are planning to sell your property in the near future then it is better that you opt for renovations that make sense cost wise.
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On the other hand, home renovation at times is an answer to what a family currently needs. These might include something such as upgrading the small attached bath to a master bathroom or upgrading your old wooden kitchen to a new and better one. These projects are worth the cost if you are planning on remaining in your home for more than a couple of years.
In the recent years, the home renovation industry has experienced a lot of growth due to the promotion and glamorization of home improvement by the media. It was recorded that in 2015, Americans spent $326 billion on home renovations. If you are also searching for some good home renovation ideas that won’t cost you an arm and a leg while increasing your property value, then you might want to read more below.
Change your color scheme
Changing your color scheme might cost you around $200 to $300 per room and it is generally recommended by real estate agents that you repaint the inside of your house before you put it on sale. It is true that a fresh coat of the right shade might increase the value of your property in thousands. According to the National Association of Home Builders, shades in neutral tones such as beige, gray and greige have been quite popular in the recent years, so you might want to look into these tones for good color ideas.
Repainting your property can be even cheaper if you are someone who is willing to do it on your own. It might cost you around a gallon ($30–$60 at Home Depot) per coat to paint a 10-by-12-foot room with eight-foot ceilings. Additionally, the cost of other necessary material such as tarps, brushes, painters tape (and assuming that you might need double coat of paint) might cost you around $200 to $300 per room if you paint them yourself. Whereas it might cost you 400 to $800 if you are planning on hiring a professional.
Save your energy
According to the U.S. government’s Energy Star program, around 9 in 10 are under insulated in the US. Most of the houses that have been built in the 1900s do not come with proper or any insulation measures at all. Not only does this reduce your comfort but it is also one of the main causes of high winter heating bills. If you are curious to know if your house comes with in-built insulation or not, then you can know by checking your attic for eight inches of cellulose insulation or at least 11 inches of fiberglass insulation.
If it is dirty, then there is a high chance that it needs replacement. According to the Environmental Protection Agency, solving the problem can reduce the cost of your heating bills by 10%. This is a huge potential win for areas where it tends to get very cold and heating oil costs can cost you at least $60 to $80 a month, according to personal finance website WalletHub.
Though this renovation might not sound appealing to you since you won’t be able to see it inside your house and it is not as fun as picking out the right color for painting your room, it still is very useful and convenient as it can save a significant amount on your bills.
Upgrade Your Garage Door
Upgrading your garage door might cost you between $2,300 to $3,000 and this in return delivers about 80 percent of its cost when you sell your home if done the right way. You can either upgrade your garage door to a carriage-style garage door or an attractive wooden one. Garage doors that have a few windows are much better than the ones that don’t. But before you decide to change the garage door you can use some of the new remodeling preview apps to see how different doors will like.
Replace old windows
Replacing old windows is always a great idea as it adds a new and fresh look to your house. This might cost you around $2,500 to $7,500 and replacing old windows with better, newer and energy efficient ones and according to the government’s Energy Star program, this can also help you cut down on $25 to $450 cooling and heating costs in a year. Other than giving your house a fresh look, this also eliminates drafts which can quickly turn off prospective buyers when you decide to sell.
A bathroom upgrade or addition can also be a good idea if your house has only one or two bathrooms. According to HGTV, you can recoup 80%-130% of money that you spend on adding a bathroom to your house.
If you think you are short on space then you can look for underutilized spaces in your house, such as room that you do not use, closets or areas under the stairs or any other place that is not being used by you or your family. It requires at least 18 square feet on space for a half bath, whereas as a full bath that includes a standup shower needs a space of at least 30 square feet. If you plan on adding a bathtub, then you might need at least 35 square feet to work with for a bathroom addition. The total cost depends on the types of accessories you want to use and the type of additions you plan on using.
All of these renovations offer good return on the money you spend. Hence, if you want to upgrade the looks of your home, boost resale value and see a return on what you spend, then do check out these ideas.