Whether you’re a homeowner or real estate investor, it makes sense to understand which home renovation projects will give you the best financial return on investment. After all, every home remodeling project comes with an opportunity cost.
Spending $20,000 on turning your bathroom into a spa-like space means you’re not using that $20,000 elsewhere. If you’re working within a tight budget, you have to be more discerning to get the best value for the money you’re spending. Let’s take a look at the top projects that offer the highest average returns.
1. Minor Bathroom Remodel
Unless your bathroom is completely out of order, a minor makeover can do wonders to boost home value. Consider adding modern, minimal features that take up less space and make the bathroom look more spacious. Upgrades usually entail replacing the vanity, installing new fixtures, adding a window, adding new tiles, or even replacing the shower curtain with a glass door.
2. Mid-Range Kitchen Remodel
Just like the bathroom, you don’t have to go all out in the kitchen to see a bump in resale value. A mid-range kitchen remodel will cost you about $20,000 on average and usually entails swapping out countertops, replacing cabinets, and adding new hardware and fixtures.
3. Improve Curb Appeal
Believe it or not, curb appeal does play a huge role in how people view your home. First appearances do matter, and a little sprucing up is the key to attracting buyers. Smaller changes include a fresh coat of paint and minor landscaping. If you have the budget, consider adding HardiPlank® siding, new windows in the front, or replacing the garage door.
4. Door and Window Replacement
New doors and windows don’t just add to the aesthetic value of your home; they can also help improve energy efficiency. Most young homebuyers want energy-efficient home upgrades that can offer returns for years to come. NFRC-rated doors and windows are an excellent way to reduce cooling and heating costs without making any major changes in the home’s structure.
Looking for an expert residential remodeling contractor in Round Rock, Texas? Reach out to the real estate investment and development professionals at Freccia Group for comprehensive construction and home renovation services.
Whether it’s a bathroom upgrade, kitchen makeover, or a fresh coat of paint, our home remodeling experts can guide you toward home improvements that offer the best return on investment.