Remodeling is becoming a bigger industry, as people are more inclined to add more value to their properties. As CNBC puts it: “Nesting is investing.”
Experts predicted that by 2017, people would be spending $321 billion on home improvements with an 8% growth by the start of the year. Also, kitchens and bathrooms receive the most popular renovations.
As a result, grabbing home improvement franchise opportunities will be wiser than ever. Whether you want to take advantage of these numbers or you’re into DIY and design, this industry will continue to progress. Besides, there’s always a house that needs retouching and repairing, and homeowners should call services.
From flooring to lighting, remodeling, and redesigning these areas of the house can increase the value of your property:
Kitchen
An excellent kitchen remodeling can return your investment by 60%-120% if done right. When planning renovations, keep your target buyers in mind as well as the neighborhood and the size of the house.
Renovations that tip off the kitchen-to-rest-of-the-house ratio may impair home value rather than improving it. If the kitchen is too huge and too fancy than the rest of the house, buyers may not be convinced to buy the house.
Instead, invest in energy efficiency. Kitchen appliances should be guaranteed to save energy because-naturally-people would want to save on utility bills. Consider looking for an Energy Star branding on appliances.
Bathrooms
An additional bathroom has an ROI of 80%-130%. Who doesn’t love an extra bathroom? More importantly, converting an under-utilized space into a completely functional one makes the house a more productive place to live in.
Improving bath and shower attracts buyers more. Nowadays, people prefer a bathroom that feels relaxing at the end of a busy day. They want to feel like they’re at a spa or a hotel bathroom, so opting for fresher choices in flooring and walls attracts potential buyers.
Small upgrades also go a long way. You can change the lavatory into a bigger and more modern one by following new design trends. You can replace the old showerhead with a rain shower one. Tune in to Pinterest or home magazines when planning bathroom renovations. They can help you more than you know.
Curb or Front Lawn
Curb appeal can return 150% of your investment and adds 3-5% to home value. The front of the house is responsible for the first impression of buyers, visitors, and neighbors. Imagine going to a house with a pretty lawn. It immediately creates a “wow factor” and increases the chances of making buyers fall in love with the house.
Adding garden lamps, shrubs and bushes, flowers, and other ornamental plants can make the curb prettier. However, landscaping should be planned properly for long-term maintenance. Irrigation systems should also be efficient to conserve water and make watering convenient.
Neighbors should also be taken into consideration because this affects the community. It’s best to ask them if the landscaping affects them in any way. Their suggestions are also welcome so that you can improve the overall aesthetics and functionality of the lawn.
Upgrading your home-in all the right places-can give your money back more than you expect. Investing in these renovations will help your house age better for future buyers. Don’t forget about comfort, though! It’s what matters at the end of the day.
