For most homeowners, one of the top priorities when it comes to home renovation is sticking to the budget. However, when there’s money to spare, why not put it into something that has a high ROI, such as a high-end home improvement project?
Here are some of the best ideas that will surely bring in top-dollar value for your home:
1. New deck
The average cost of a new deck is around $7,000. Although using affordable materials, such as high-quality Sika epoxy products, can bring this price down, it’s no secret that a new deck is on the more expensive side of home improvement projects.
Nevertheless, building a deck in your backyard is a surefire way to increase the resale value of your home. Not only do you get to enjoy the deck during your stay in the home, but it also helps you attract new buyers when the time comes.
2. Roof replacement
Replacing an entire roof can take between $10,000 to $15,000, depending on the size of the roof and the quality of the materials used. But despite the high price, getting a new roof means you won’t have to replace it for 30 or so years. More importantly, there are fewer chances of dealing with roof problems, such as leaks and missing shingles. And if you have to repair it, a new roof comes with an active warranty.
3. Kitchen remodel
Remodeling an entire kitchen will surely put a dent in your bank account, but doing it the right way can significantly increase your ROI on the property. The cost of kitchen remodel can fall between $5,000 to $80,000. This value depends on the size of your kitchen, the materials needed, as well as the replacements you will have to make. In general, you would have to distribute your budget into these factors: kitchen cabinets, appliances, paint, fixtures, labor, and counters, just to name a few.
4. Home extension
Building an extension is probably the most expensive home improvement project you can do, with the cost ranging between $150,000 to $300,000 or more. A home extension can be used for almost anything, such as a bedroom, an additional living area, a sunroom, or a home office. Needless to say, this project can help you get top dollar for your home when you decide to resell it, making it an excellent investment.
5. Basement finishing
A basement can be more than just a dark and dank storage area. With a basement finishing service that costs around $10,000 to $20,000, you can convert your basement into a living room, an entertainment room, a playroom, or almost anything that you can think of. Hence, instead of a dingy and unusable area, buyers can see your basement as a great selling point.
Many home improvement projects require a sizeable investment. However, not all yield a good return. If you’re spending a huge amount of money, make sure you put it into something that you will enjoy and will give you a good ROI at the same time.
