Americans are all about home renovation, whether that means binging on their favorite HGTV program or making actual upgrades to their houses. In fact, average spending on home renovations increased by 25% year-over-year to $10,341 in 2021, according to the home services company Angi Inc.
Homeowners are investing more money in reconfiguring and redesigning the spaces they live in. If you’re considering remodeling your home, you may find that some renovations make more sense than others.
Here are some of the changes that might be worth your money.
Remodel your kitchen
It is often said that the kitchen is the heart of the home. It’s also where many people found themselves at the peak of the lockdown during the COVID-19 pandemic. More people were cooking the vast majority of their meals at home, perhaps for the first time.
The outcome might be more foodies than ever before who could use an improved kitchen space. That’s just one of the reasons to renovate your kitchen, whether it’s a minor or major project. On top of that, both you and your family would enjoy spending time in the upgraded space.
And when it comes time to sell, renovating your kitchen could bring you a significant return on investment. In fact, a homeowner could recoup 72% of the cost of a minor kitchen remodel when selling the home, according to Zonda's 2021 Cost vs. Value report. That is one of the best returns on home improvement investment that the survey covered.
Remodel your bathroom
Another important space in the home is the bathroom, where we perform so many of our morning and evening hygiene rituals. It could also be a sanctuary spa where we soak our cares away in a cozy bathtub.
If you find that you spend a lot of time in your bathroom, whether it’s to relax in a bathtub or read the morning news, renovating it might lift your spirit every time you enter. Also, since bathrooms are environments that deal with changing temps and humidity, ensuring they’re properly built and finished could be paramount.
Finally, a renovated bathroom could bring you a decent return on investment at the time of sale. A mid-range bathroom remodel could return on average 60% of its cost when you sell the home, according to Zonda’s 2021 Cost vs. Value Report.
Install new flooring
While the floor may often be forgotten beneath our feet, it’s vital to make sure that your flooring is clean, maintained, and shielding what’s below it from the elements. These surfaces truly take a beating from our feet, our pets, and our occasional drops of heavy items.
So, if your floor is looking worn from years of service, you could consider installing a new one. Use hardwood if you find it affordable enough. Alternatively, You could use vinyl flooring as one of the renovations that save you money. This upgrade might make your house more appealing to potential buyers.
Convert your attic
If your home has an attic, how are you utilizing the space? If you answered “not very well,” you’re not alone. Many people use their attics as a storage area that might not be well-organized.
Rather than letting the dust keep collecting up there, you could consider converting the attic space into an added bedroom. There might be a family member — maybe a teenager — who would love nothing more than to have their own private space away from everyone else.
You might have several financing options for such a home improvement project. Plus, having an extra bedroom might make the home more attractive to potential buyers.
Remodel your basement
Just as the attic could be a forgotten but useful space, so could the basement. But there are actually several reasons to renovate this space.
For starters, it might enlarge your living space if the area was previously unfinished. Remodeling your basement might also increase storage space, repair water damage, and possibly raise the price tag of your house when you sell it.
Even if you need to take out a home improvement loan to renovate your basement, the results might be worth it. This might be especially true if you could recoup the money by creating a space that you would then rent out.
Give your walls a new coat of paint
One home project that might be on the easier side of renovations is giving your walls a fresh coat of paint. It’s also one of the least expensive ways you could improve the look and feel of your residence.
Even if you have a large house, the cost of multiple gallons of paint is still much lower than more involved remodels like those of the kitchen or bathroom. A new coat of paint might be one of the simplest ways to add value to your home.
If your walls are scuffed and worn from years of getting knocked into, you stand to see the biggest transformation, too. Choose your new colors carefully, however, as colors that surround you could have a big impact on your mood.
Landscape your yard
If you’re aiming for a home renovation that could increase your curb appeal, look no further than landscaping your yard. This could be a great way to make your house appear more desirable and attractive.
Add pops of color by planting flowers, shrubs, and trees, which also attract pollinators to your garden. Or if you’re in an area where water is an issue, create a drought-resistant landscape that could add a chic element to your home.
Work on exterior improvements
Is your front door looking a little sad? Consider repainting it a bright color or replacing it with a new fiberglass door. Does your house need an overall facelift? Adding siding could boost your home’s worth immediately, as well as your mood when you see how great it looks.
Some of these improvements may require a bit of money. Finding an option among the best personal loans that works for you could provide you with the required funds. You could also repaint the overall exterior if it’s still in good shape.
Replace old windows
Replacing your windows might be important for a variety of reasons. If your windows are on the older side, replacing them with contemporary windows might decrease energy costs, as they might better insulate your home.
If you live in an area where severe weather might damage your windows, replacing old busted panes could keep you safer. And yes, newer windows might add to the overall aesthetics of your home, surprising as that may sound.
Get a new roof
The importance of maintaining your roof cannot be overstated. So make sure you address it quickly when it’s time to replace your roof.
The most important function your roof does is to protect you from the elements and ensure the health of your house. But replacing a roof also could also increase energy efficiency, boost curb appeal and raise the overall value of your residence.
Not all remodels are created equal
Sure, renovating your kitchen or bathroom is the stuff that dreams are made of. But don’t discount smaller projects like landscaping and painting, which might do more for your home and its value than you initially expect.
Whatever your budget is, there should be a home improvement project for you.