Home renovation projects have taken off in the last few years. In fact, from 2019 to 2022, total homeowner spending on remodeling jumped from $328 billion to over $472 billion.
Not all renovations are the same when it comes to the best value. In fact, they can vary greatly when it comes to your return on investment (ROI) or what you can expect to get back from the investment if you sold your home.
This article covers the top ROI-boosting custom home remodeling projects today. Keep reading to find out which ones will give you the most bang for your buck.
A recent study found that Americans spend more than 400 hours in their kitchens every year. This is a place where couples or families come together to prepare and, in many cases, share meals.
There are lots of options for upgrading a kitchen. These include new flooring, cabinets, drawers, backsplashes, and appliances. It also can extend to adding storage or surface space through islands, or replacing hardware, like sinks and faucets.
For these reasons, a kitchen remodel has the potential to add a lot of value to your home. Even aesthetic changes, such as a new paint job or updating crown molding, can yield significant returns. More extensive upgrades, such as new appliances or cabinetry, can have an even higher ROI.
Along with kitchens, bathrooms are notoriously the most expensive renovations you can do. That is because they require skilled labor for dealing with plumbing and fixtures, as well as materials like tiling.
The good news is that bathrooms are at the top of the list for ROI. There are many reasons for this.
Like kitchens, the main reason has to do with functionality. You want toilets, showers, and faucets to work as intended. Modern fixtures also can help save water and reduce energy consumption.
You also want bathrooms to be inviting. Modern tiles and contemporary lighting can make an otherwise dreary space feel fresh and new.
There also are a range of options when it comes to bathroom remodels. You might consider adding a soaking tub or a spa-like shower. Adding LED lighting or double vanities can make the space more comfortable and enjoyable to use.
Upgraded Flooring
High-quality flooring is one of the best additions to a home. In fact, some home improvement experts believe adding hardwood flooring is the number-one home upgrade you can make in terms of ROI.
Besides hardwoods, there are other options, that each have their own benefits. These include laminate, tile, and engineered wood.
These are all resistant to spills and moisture. That makes them a great option (over hardwoods) for bathrooms, kitchens, mud rooms, or laundry rooms.
One of the main benefits of upgraded flooring is aesthetics. They can improve the overall look of a room, as well as the feel. You might be surprised how spacious a room looks when you replace carpeting with hardwoods or engineered wood.
Another reason new flooring adds value to homes is improved functionality. For instance, new flooring can be much easier to clean than carpeting. It also is much more durable, which means you can expect it to last and look great for decades before it needs repair or replacement.
Window Replacement
There are several reasons that window replacements can produce a large ROI. That is because they impact your home in many different ways.
One is curb appeal. Old, dilapidated windows can detract from an otherwise appealing home. Conversely, new windows can bring a modern, well-maintained look to it.
Next, new windows can greatly improve energy efficiency. According to the Department of Energy, approximately 30 percent of a home’s heating energy is lost through windows. Upgrading to more energy-efficient ones can go a long way toward decreasing utility bills.
On a similar note, new windows can improve the comfort of your home. They can make it easier to regular temperatures. So, outward-facing rooms do not become overly warm or drafty versus the rest of the house.
Finally, new windows can improve security. You can upgrade to impact-resistant glass and better-locking mechanisms. This can both deter crime (thieves often look for easy access) and make it much harder for anyone wishing to enter your home for nefarious reasons.
Basement or Attic Refinishing
Any chance to add square footage to your house is a net plus when it comes to home value. Refinishing an attic or basement is a perfect way to do so. That is partly because it does not involve any major building, only upgrading an existing space.
Such additions are a perfect way to fill any glaring gaps in your home. Could you use an extra office, guest suite, child play area, laundry room, or workout area? Depending on the layout, this extra space could function as any (or all) of these.
Regardless of how you intend to use it, an attic or basement conversion significantly increases the value of your home. An experienced contractor in custom home remodeling can make recommendations for the best uses based on the square footage and layout of the space.
Adding Outdoor Living Space
A final renovation that is a great home investment is adding or renovating an outdoor living space. Turning that unused slab into a screened-in porch or expansive deck can improve curb appeal. In fact, most buyers are willing to pay much more for the same home if it has a functional outdoor living area.
There are benefits to a deck, porch, or patio beyond improving home value though. Especially since the COVID pandemic, homeowners are always looking for ways to expand their outdoor living space. Adding a porch or deck for outdoor cooking or entertaining is a perfect way to do so.
Find Professional Custom Home Remodeling Near You
Now that you know the custom home remodeling projects that increase the value of your home the most, you can determine which is right for you. An experienced contractor can further advise you on the best upgrades based on your unique home and lifestyle.
At Las Vegas Remodel & Construction, our goal is to revolutionize the remodeling experience. For more than 23 years, our team has been working to increase efficiency without sacrificing quality. Reach out to us today to discuss your vision for your home.
