When it comes to making upgrades to your home, it’s important to think about not just what you want right now and for yourself but also about how it will improve your home’s value in the future.
This matters when you’re considering structural changes as well as design changes. Of course, you should love your home as much as possible, but you also don’t want to do anything too crazy that makes it difficult to sell your home down the line.
Resale value is crucial, which is why we’ve combined a list of the top home improvements that will provide you with the best return on your investment! Keep reading for our top picks!
Remodeling your bathroom will get you one of the best returns on your investment!
Some of the major changes to think about include:
- Replacing the tub
- Swapping out old tile
- Changing the fixtures
- Other cosmetic upgrades
All in all, this will cost you around $10,500 and should get you a resale of approximately $10,700, a return rate of about 102 percent.
If you wanted to go for a major bathroom upgrade, you would need to do the following:
- Expand the existing space by a few feet
- Relocating the tub, shower, or vanity
- Replacing floors and counters
- Adding any designer features
All of these upgrades would bring you to a total of around $26,052, which would bring in about $24,286 at resale, a return rate of 93.2 percent.
Remodeling your kitchen is the next best choice in terms of return on investment. Plus, we spend so much time in our kitchens, it’s worth the upgrade whether you’re thinking of selling or not.
For a minor remodel, these are the changes you’ll want to consider:
- Refacing existing cabinets
- Installing a new oven and cooktop
- Updating the sink and fixtures
- Upgrading flooring
A kitchen remodel like this one will average about $14,913 and get you a return of $14,691, a return of 98.5 percent.
For a major kitchen remodel, you’ll want to consider making the following changes:
- New cabinets
- Adding or updating the island
- New sink
- Built-in bench or nook
This should cost you about $43,862 and give you a return of roughly $39,920, a return rate of about 91 percent.
Outdoor Living Space
Last year we got creative with how we spent our time, and most of it included spending more time outside. This might have inspired you to start a backyard remodel to incorporate more living space out there. Here are some upgrades to consider that will give you the best return on investment.
- Add a sitting area
- Install a kitchen with a grill, sink, and mini-fridge
- Make sure to include lots of dining space
- Update the decking
- Upgrade the lighting
These kinds of upgrades will run you about $11,000 and get you about $10,000 at the sale, coming out to a return rate of 90.3 percent. This rate fluctuates depending on which part of the country you’re in because of the weather.
For all of the plumbing and home upgrades, you plan on making this year, don’t hesitate to contact our team of remodeling experts! At Hi-Tech Plumbing & Air, Inc., we pride ourselves on our performance in this area. Give us a call at (561) 708-4989, or visit our website to learn more about how we can assist you in your summer home upgrade journey!