As homeowners contemplate the various renovations that can improve the look and feel of their home, they quickly discover that not all renovations are created equal. One of the fundamental questions that might be asked is how likely will I be to get a return on my investment if I embark on an expensive renovation, and which is highest on the list.
There is no easy answer because what a homeowner may decide on depends on several factors, including the choice of project, the materials used and value of other homes in your neighborhood.
Some choose to invest more in high-end renovations because you love your house and plan to live in it for a long time while others while want to recoup what they invested. If you are in the former group, a kitchen or bath renovation will be top on your list.
According to the Joint Center for Housing Studies at Harvard University, kitchens and bathrooms can be the most costly to renovate, but more likely to pay for themselves over time. Additional renovations, like adding a family room or master suite also tend to fare well when resale time rolls around.
While the kitchen has always been the heart of the family and most popular room, the total cost of kitchen renovations varies widely. According to Home Advisor’s Chief Economist Brad Hunter, the average cost nationally to remodel a kitchen is $21,668.
But he also adds that replacing appliances with new updated models, installing granite countertops, designing and installing custom cabinets, flooring such as tile, recessed or under counter lighting or center island, a kitchen remodel can run upwards of $40,000 to $100,000 or more.
Here are some examples of what you might expect to find in a mid to upper range kitchen remodel.
Bathroom remodels provide some of the highest resale returns on investment, but they don’t come cheap and can take time to complete. Therefore it is essential to gather and plan your bathroom remodeling ideas ahead of time and find the right contractor for the job.
Here are some examples of what you might expect to find in a mid to upper-range bathroom renovation.
For an enjoyable, high-quality renovation experience, Artisan Contracting can help you get through the stress and worry about your upcoming project. You’ll love our work, and we’ll help you make smart, informed decisions about your renovation.View full article
You’ve bought the house of your dreams surrounded by large mature trees. You consider this place your heavenly oasis with lots of shade on hot sunny days, right? Unfortunately after you move into your new castle, you discover that all of those big trees cast a dark shadow over the house. The interior is darker than you remember when you were wandering through it initially. Now what do you do to brighten up your beautiful new home?
Fear not, because there are many ways that you can transform that darker interior into something of a showplace you will treasure for many years to come. Using both natural and ambient light is one of the fundamental ways to design a home’s interior. However, there are many other simple, or elaborate, solutions that can make a real difference for making your home brighter.
Using light intelligently is essential to crafting a home that’s the very best it can be. Setting out to transform your space and designing a lighting plan can seem daunting, but there are many solutions that can make a real difference.
Windows, Doors, Skylights
Adding windows will brighten any home, especially if you have a cross section of different exposures. Kitchens and living rooms are the most obvious and popular locations, but staircases and landings are also a practical choice to bring in more light. Southern exposure will bring in morning light while western locations will offer afternoon and sunset light.
If you find that your entryway is dark, installing a front door with an upper window glass pane or glass panels will certainly enhance the look and brightness within your home. The light coming in will give more depth to the interior and help to flood light down the hall, most often to the kitchen.
Another option is to replace interior solid doors with glass or French doors that provide not only light, but a see-through effect to expand the feel of lightness and brightness within the home. French doors provide a way for rooms to share light and to avoid shutting rooms off. You could even install a solid wood with inserted pane glass panels or a solid door with five-pane sidelights for distributing light in the house.
Installing skylights will do wonders for any dark area. Whether it’s in the kitchen, living room, hallways or even the bathroom, you get a floor and disbursement of light that surely brighten up any darkened area. Skylights bathe a room in natural light that is both functional and visually appealing.
Curtains & Drapes
Put it all Together
Making your home brighter doesn’t have to be a burden or break the bank. By adding additional light, using either natural or ambient, then finishing off with the right paint colours, furniture and accessories, your home will look bright and inviting. It will become the beautiful environment that welcomes you and your family home every day.View full article
Although completing home renovations can be costly, time intensive and stressful, doing so can pay off big time when it comes time to sell your home! However, not all renovations provide the same return on investment (ROI), so it's important to consider which ones are the best to do.
Listed below are the top three renovations to complete if you’re looking for the best financial return.
As the most used room in a home, a kitchen plays a pivotal role in a family’s day-to-day life. It’s no surprise then that a kitchen renovation can provide a homeowner with the biggest return on investment compared to any other room you remodel in your home! On average, you can expect to recoup 60-80 percent of a kitchen's remodeling cost.
Kitchen remodels have a reputation for being costly, especially if you're considering high-end upgrades like custom cabinetry and granite countertops. But if you’re looking to get a good ROI without breaking your bank, there are some relatively easy remodel ideas to complete.
Painting your kitchen cabinets and changing up their hardware, or finding a new countertop and backsplash is a great place to start.
There are many other affordable options available on the market today that look expensive, but have a much different price tag than the luxurious material. For example, composite, butcher block and even some laminates can create a great impact without having granite’s high price tag.
After kitchen renovations, bathroom renovations are the next best remodeling investment to complete. With the average bathroom remodeling resulting in a return on investment of 60-70 percent, this small room is a relatively easy one to result in a big profit!
Like kitchens, bathrooms do not need to be completely renovated to result in a profitable ROI. Painting the walls, changing out the hardware, and updating your vanity, flooring or fixtures are relatively easy renovations to complete in this room.
With the popularity of green initiatives, upgrading your toilets to be more energy efficient can be a great selling feature, too.
Doing something as easy as updating your home’s paint colours can go a long way when you go to sell your home! Other general improvements to complete before listing your home include adding window treatments, upgrading fixtures, completing landscaping, redoing your deck and cleaning your carpets.
Completing minor improvements while keeping costs to a minimum are a great way to improve your home’s appearance and receive a larger selling price.
Take the stress and headache out of completing your own home renovations and trust the professionals!
For over 35 years, Artisan Contracting has been completing beautiful, functional remodeling projects throughout the Burlington and Oakville area. As the area’s most trusted contracting team, Artisan Contracting can complete home renovations that will result in a better selling price for your home. Contact us today for more details!View full article
The most important question every homeowner should consider is whether a renovation will pay off and boost the value of their home. Although you may not be planning to sell your home anytime soon, remodeling projects do add value to your home, improve your family’s quality of life and attract future buyers. The payoff varies since some home improvements are determined from neighborhood to neighborhood and regionally as well.
You do not want to have an overblown renovation project that makes your home the most expensive house in the neighborhood. It’s important that the style, size, and quality of the renovation fit the rest of the house. If you plan on selling your home within the next five years, keep potential buyers in mind before you start on any major remodeling job.
So, what are the top-ranking home improvements?
Since the kitchen is the heart of the home, it is the single most important room in the house relating to valuation. According to HGTV, kitchen and bathroom improvements increase the value of your house more than most renovations. It’s essential that you invest in a modern, fresh and desirable kitchen. Modern cabinetry, under cabinet lighting, backsplash tiling, upgraded countertops, modern faucets and new appliances will all significantly increase the value of your home.
ROI is 75-100%
Similarly, bathroom renovations are the second most important room in the home in terms of return on investment. Today’s trends lean toward people remodeling the space into a spa-style bathroom. The bathroom can be one of the most expensive rooms in the house to renovate because the costs depend largely on the design, products, types of additions and accessories you want to add. In addition to the expensive elements involved, such as cabinetry, tile, and fixtures, there is the cost of hiring a professional contractor who is knowledgeable about design, plumbing, tiling and electrical work.
ROI is 75-100%
There are other top-notch home improvements that add to a home’s value, such as replacing old elements like doors, windows, and siding. These improvements, in general, yield a better financial return on investment.
When a buyer or appraiser looks at your house, the first thing that catches their attention and focus is your front door. Upgrading your front entry can give your house the appearance of solidity and quality. This feature has a positive impact on their opinion of the home and increases its value. Adding French doors leading to the back yard or deck can also increase home value.
ROI is 96.6%
Windows are an expensive proposition, but if your windows no longer enhance the facade of your home, shield it from the elements or filter out noise, then it’s time to update them. Today’s windows are energy efficient and can help you save on heating and cooling costs. They can decrease your costs by up to 25% while improving the aesthetics of your home by complementing your home’s theme and design. They are relatively low maintenance and more durable than wood.
ROI is 80%
Although siding may not be glamorous, it is one of the best home improvements for adding value to your home. Here is your chance to make a great first impression by updating your old siding, or adding new, because the exterior look sets the tone of what potential buyers will find inside the house. Vinyl siding is an affordable solution to sprucing up the exterior of a tired looking home.
ROI is 92.8%
In today’s competitive housing market, renovations offer a relatively affordable means to boost the value of a home. Whether the upgrades are do-it-yourself projects or professionally done renovations, remodeling will make a house not only more appealing to buyers but also offer a great return on investment.
See more of our home renovation blogs and optimize your return on investment.View full article