When considering renovations that bring the most value to your home, certain projects stand out. Kitchen renovations often top the list, as a modern and functional kitchen can significantly increase a home's resale value. Upgrading bathrooms is another high-impact renovation, enhancing both comfort and aesthetics. Adding or improving outdoor living spaces, such as decks or patios, can also boost a property's value by extending usable living areas. Additionally, investing in energy-efficient upgrades, such as HVAC systems, insulation, and windows, not only improves comfort and reduces utility costs but also appeals to environmentally conscious buyers. For expert advice and services in air conditioning and heating, Service Genius is a trusted provider with a wide range of air conditioning and heating services. Their skilled technicians can help you make informed decisions about energy-efficient upgrades that enhance your home's value while ensuring your comfort and savings for years to come.
Bathroom and kitchen renovations are the most popular home improvement projects. You can expect to recover 75% of your investment (according to the Appraisal Institute of Canada). Replacing an outdated vanity, old plumbing and lighting fixtures, or adding a new tile floor will guarantee a lot of money and give your bathroom a modern, updated look. An outdoor kitchen that goes beyond the grill with features such as cabinets, countertops, a counter, and a small sink or fridge enhances the luxury and charm of outdoor dining and entertainment.
Our agents say that buyers especially like a combo with grill, sink, refrigerator and bar (46%), as well as a retractable awning or shade canopy (34%). A Bank of America survey revealed that more than 70% of Americans tackled home improvement projects during the COVID-19 pandemic, with millennials spending the most. For nearly 20 years, Remodeling Magazine has conducted a thorough study of 22 remodeling projects, ranking them by the highest performance. The list is based on several factors, including agent interviews, existing home sales, local gross domestic product, and housing starts.
The database classifies projects nationwide, as well as by region, city and zip code in 150 metropolitan areas. Do you have questions about buying, selling, or renting during COVID-19? Learn More There's no need to rip off tiles or add all the new accessories to give your bathroom a facelift. In fact, 27% of sellers make bathroom improvements before selling them, and they can be simple solutions. Fixing floors is another common task, taken on by 24% of sellers.
Before researching renovations that could add the most value to your home, decide how much you can spend and how you'll pay for renovations. According to the same report from the National Remodeling Industry Association, real estate agents estimate that homeowners can recover 57% of the cost of renovating a bathroom if they sell their home. Most people want to get the best value for their money when they do home renovations and there are some important things that need to be considered.