Home Renovations That Pay Off

Home Renovations

Renovating homes seems to be a very trendy topic. HG TV shows are always showing sellers how to renovate on a budget or how to renovate a home. Home owners who are looking to renovate their home are probably wondering if the updates will pay off in the long run. Here are some areas of the home where renovations seem to pay off:

  1. Front Door – Replacing the front door can instantly add to the curb appeal and is relatively inexpensive.
  2. Kitchen Upgrades – Updating a kitchen can help add value in the long run. Home owners must consider current trends and desires of the market. Currently stainless steel appliances, open floor plans, and granite or quartz countertops are all the rage. According to US News remodeled kitchens returns 66% on average. However, it is noted that kitchens are one of the main focal points of a home. Thought the rate of return is only 66% a solid kitchen can help a home stand out with buyers. The most important factor to remember is not to go over board when remodeling the kitchen.
  3. Outdoor Deck – Adding an outdoor deck can added value and ambiance to your home. According to Investopia.com about 87% of cost of building a deck can be recouped through the sale of the home. Decks are another very sought after feature especially in Central Oregon where outdoor entertaining is such a huge part of our lives. A nice deck is relatively inexpensive yet is a great feature to have for your home.
  4. Paint – A fresh coat of paint on the interior and exterior can do wonders for a home. It can give the home a new look. A neutral tone is always a good way to go. Paint is also relatively inexpensive but can really spruce up a home.

When considering renovations it is important to not go overboard and to truly think of costs. Many times small improvements can really add a lot of bang for your buck.

Information provided from:

https://www.houselogic.com/save-money-add-value/add-value-to-your-home/home-remodeling-projects-with-long-term-ROI/
http://money.usnews.com/money/personal-finance/articles/2012/10/25/renovations-that-yield-the-best-return-on-investment