Whether you are a realtor remodeling homes to sell or someone tackling their first fixer-upper project, your main focus is the sale value. However, sometimes you need to put in extra money to get the best bang for your buck. You can do this by investing in the right renovation products and maximizing returns.
Keep reading if you are an interior designer in Boca Raton, Florida, and want to understand more about return on investments (ROI) regarding home remodeling.
Curb appeal sells a house, and what better way to increase it than fresh landscaping. Updating the landscape, both the front and backyard will bring an aesthetic touch to your property. However, please do not go overboard, as less is more when it comes to landscaping design.
The average cost to revamp your garden is $4900, bringing back $4850. This means that you will recover 98.9% of that expense.
The kitchen is one of the most important rooms in the entire house and a major selling point, so realtors must keep it updated. There are minor and major remodeling that can be done in the kitchen, both yielding different returns on investments.
Boost home remodeling ROI with minor tweaking around the kitchen, including:
- Getting updated and contemporary appliances
- Refurbishing or replacing kitchen cabinets
- Fresh paint job in the entire kitchen
- Replacing the stove with a better one
- Adding trendy yet sophisticated light fixtures
Minor kitchen remodeling will cost around $22,000, adding $18,900 to resale value, which means you will recoup 85% of your investments.
A major remodel is when you give the kitchen a completely new makeover by taking out and redoing everything. You can take down a few walls and incorporate an open kitchen concept if you are doing a major kitchen remodeling, as many buyers love airy and open kitchens.
Even though this can get pricey with an average cost of $43,000, it will add a resale value of $39,000, bringing you a 91% return on investment.
Garage Door Replacement
First impressions are incredibly crucial, especially in real estate, because it determines how much money a buyer is willing to pay for a property. So, a good-looking and functional garage door shapes the buyer’s impression as it is one of the first things they see as they are parking their car in the driveway. Sometimes, a minor repair won’t work on the door, and you would probably have to replace the damaged, outdated version entirely. Invest in a heavy-duty garage door made of galvanized steel, insulated with foam seals to keep the heat in.
The average cost of replacing a garage door is $3,695 with a resale value of $3,500, which means you will get a 94.5% return.
Replacing the siding is another renovating project that can add dimension to your property, increasing its value. There are two kinds of material that you should opt for:
Fiber cement looks like wood, stone, and brick but is much more durable and doesn’t require excessive maintenance. Replacing 1,200 square feet of siding with fiber-cement costs approximately $18,000, with a resale value of $13,400, so you can expect a 77.6% return.
Replace your siding with vinyl manufactured from PVC resin. It is durable and weatherproof, lasting long without any high maintenance. Make sure to install a water-resistant barrier. It costs around $14,000, adding $10,000 in resale. This means you will earn 74.7% of your investments.
Manufactured Stone Veneer Addition
Manufactured stone veneer is basically faux stone, designed in such a way that it looks like real stone. It helps provide the necessary transformation to your properties at an affordable rate.
With adding manufactured stone veneer at an average rate of $9,350, you’re likely to bring $8,940 of resale value, which will be 95% of your cost.
It’s important to make your investments count, especially when remodeling your property. Hence, you need to choose projects that will bring a good resale value and a high Return on Investment (ROI). There are certain upgrades that are more worthy than others. If you are not sure which designing and renovating projects to invest in, we recommend consulting a team of professionals.
- Interior Designing
- Design Consultations
- Outdoor Space Planning
- Home Redecoration
Do you wish to know more about Boca Lavish? You can pay them a visit at 1634, East Atlantic Blvd, Pompano Beach, FL, call (954) 789 2720, or email at email@example.com.