Top 3 Returns on Investment Home Renovations
Written by Artisan Contracting on November 10, 2017
Although completing home renovations can be costly, time intensive and stressful, doing so can pay off big time when it comes time to sell your home! However, not all renovations provide the same return on investment (ROI), so it’s important to consider which ones are the best to do.
Listed below are the top three renovations to complete if you’re looking for the best financial return.
Your #1 Home Renovation ROI: Kitchen Renovations
As the most used room in a home, a kitchen plays a pivotal role in a family’s day-to-day life. It’s no surprise then that a kitchen renovation can provide a homeowner with the biggest return on investment compared to any other room you remodel in your home! On average, you can expect to recoup 60-80 percent of a kitchen’s remodeling cost.
Kitchen remodels have a reputation for being costly, especially if you’re considering high-end upgrades like custom cabinetry and granite countertops. But if you’re looking to get a good ROI without breaking your bank, there are some relatively easy remodel ideas to complete.
Painting your kitchen cabinets and changing up their hardware, or finding a new countertop and backsplash is a great place to start.
There are many other affordable options available on the market today that look expensive, but have a much different price tag than the luxurious material. For example, composite, butcher block and even some laminates can create a great impact without having granite’s high price tag.
Upgrading Your Bathroom Can Pay Off!
After kitchen renovations, bathroom renovations are the next best remodeling investment to complete. With the average bathroom remodeling resulting in a return on investment of 60-70 percent, this small room is a relatively easy one to result in a big profit!
Like kitchens, bathrooms do not need to be completely renovated to result in a profitable ROI. Painting the walls, changing out the hardware, and updating your vanity, flooring or fixtures are relatively easy renovations to complete in this room.
With the popularity of green initiatives, upgrading your toilets to be more energy efficient can be a great selling feature, too.
General Cosmetic Improvements Can Result in a Higher Selling Price
Doing something as easy as updating your home’s paint colours can go a long way when you go to sell your home! Other general improvements to complete before listing your home include adding window treatments, upgrading fixtures, completing landscaping, redoing your deck and cleaning your carpets.
Completing minor improvements while keeping costs to a minimum are a great way to improve your home’s appearance and receive a larger selling price.
ARTISAN CONTRACTING CAN HELP YOU RECEIVE A BETTER ROI ON YOUR HOME!
Take the stress and headache out of completing your own home renovations and trust the professionals!
For over 35 years, Artisan Contracting has been completing beautiful, functional remodeling projects throughout the Burlington and Oakville area. As the area’s most trusted contracting team, Artisan Contracting can complete home renovations that will result in a better selling price for your home. Contact us today for more details!