Whether you’re looking to boost your home’s value for future buyers or increase its comfort for your current family, these projects will help.
Overhauling surfaces underfoot and overhead was the most popular home improvement project in 2017. New carpet, flooring and ceiling tiles recoup 78% of their cost.
Replacing exterior siding is another big investment, but it ranks as the top outdoor project for adding value. Manufactured stone veneer also recoups nearly 96% of its cost.
1. Kitchen Remodel
Home improvement includes any work done to the interior or exterior of a dwelling. This can include remodeling, painting, repairing, renovating, restoring, modernizing, moving, demolishing, or adding to residential buildings.
According to the 2022 Remodeling Impact Report, kitchens and bathrooms are the most frequently remodeled rooms. However, a full-scale remodel isn’t necessary for every home.
If your current kitchen is functional for you but just not aesthetically pleasing, consider a smaller facelift. This might include paint, re-facing cabinets, replacing appliances or even a small kitchen island.
A new coat of paint is one of the simplest and most cost-effective projects you can do to update your space. Opt for light colors like gray, beige or white to open up your rooms and make them feel airy and bright. Or, make a statement with a feature wall by painting it in a bold color like navy blue or deep purple.
2. Bathroom Remodel
A bathroom remodel may be as simple as a fresh coat of paint or as complicated as moving plumbing fixtures. If you’re a homeowner, you can save money by tackling some of the project yourself.
If you’re hiring contractors, be sure to get a clear description of the work, the estimated start and completion dates, and a complete price break down. Also, find out if they have insurance and a warranty on their work.
Remember to factor in a 20% cushion for unanticipated expenses. Poor planning is the number one cause of bathroom remodeling cost overruns. Use a free printable bathroom remodel checklist to help you stay on budget and make the best decisions. Keep in mind that some improvements may require a permit. This is especially true of structural changes, such as removing and replacing walls. Also, be sure to check the status of your home’s lead paint before making any renovations. This is especially important for pregnant women and children.
3. Master Suite Remodel
A master suite remodel is a major project that adds value to your home. It’s also a great opportunity to make the room look and function how you want it.
Start with a list of “must-have” and “would-love-to-have” features, focusing on those that are most important to you. Then work with a design-build contractor to create a budget that can accommodate those upgrades while staying within the limits of your home’s existing structure.
Consider relocating the master suite to a more private area of your home or to one of the exterior walls to increase privacy and allow for easy access to the yard and patio. Or, you might opt to open the space up to a view with large windows. These homeowners in Northern New Jersey were able to add a new walk-in shower and two new closets to their luxury master suite after our designers reconfigured the space to make it more functional.
4. Finished Basement
Having a finished basement can add extra square footage to your home and increase its value. While many homeowners think that basements are a “wet” area that requires more maintenance, it is possible to finish the space for a reasonable cost. It’s important to remember that appraisers will consider the below-grade finish as part of the overall value of a house.
The basement renovation should be done by a professional to ensure it is up to code, including egress windows and fire safety precautions. It may be possible to save money by selecting lower-grade materials, but Steckel suggests not skimping on electrical work and plumbing. When it comes to furnishings, try sourcing second-hand items from websites like OfferUp and Facebook Marketplace. You can also find great deals on used fixtures and decor at Habitat for Humanity ReStores in the US. In addition, homeowners that make energy-efficient improvements may be eligible for federal and local tax credits.