According to a 2020 survey conducted by Houzz, 53% of participants renovated their homes, and the average spending per household rose from $13,000 in 2019 to $15,000. This is a positive trend, but it’s important to understand that not all home remodeling projects are the same. This means you must take time to find out which projects will give you the best bang for your buck. Here are some home remodeling projects with a high return on investment.
Minor Kitchen Remodel
Most would agree that kitchens are essentially the heart of the home. It follows then that a lot of people will likely buy a home if they are impressed with how the kitchen looks. As such, it is important to understand that the kitchen can be the main selling point and even a minor remodel can be a great advantage without going all out. Statistics show that if you spend around $26,214 on a minor kitchen remodel, you will likely add about $18,927 to the resale value of your home. When you decide to go ahead with this project, it’s advisable to go online to find the best Louisville remodelers.
Replacing Your Garage Door
This is another project with an impressive return on investment (ROI). Unlike the front door, replacing your garage door is more like a dual-threat. When you replace your garage door, it will not only increase the value of your home but will also do wonders for your curb appeal. This means that when you decide to sell, your home will likely sell quicker, and potentially increase the amount you can ask for your home.
There is significant variation when it comes to the price of garage doors. For instance, a midrange replacement can cost you about $1,595, while upscale replacements are can be double that price. However, when it comes to ROI, statistics indicate that the midscale replacement has a better ROI than the upscale one.
Minor Bathroom Remodel
There are two rooms that will act as the primary selling point for your home. These are the bathroom and the kitchen. This is why it makes sense that a minor bathroom remodel also makes the list of home remodeling projects with the best ROI. On average, a minor bathroom remodel will cost about $10,500, with an average return of about $10,700. This is an ROI of 102.0%, which is quite impressive.
There are many benefits to renovating your home, especially if you choose the right projects. If you are not sure which projects to start with, you can consult professionals among the most reliable Louisville remodelers. Contact us to find out what the best Louisville remodelers have to offer.