Home renovations can do more than improve the aesthetics and functionality of your space. The right renovation can also improve property resale value, making it an excellent investment of your time and money. But which renovation projects are worth the work? Here are some home renovation ideas with the highest return on investment:
When it comes to home renovation, garage doors are often forgotten. However, garage door replacement can boost your home’s curb appeal significantly and result in higher resale value. While there are many options available for a garage door makeover, even the simplest and most affordable changes can pay off.
If your current garage door mechanisms are in perfect condition, consider adding a new coat of paint to the outside. If you’ve experienced any issues with the functionality, having the switches, sensors and other components professionally serviced is worth your investment.
You don’t have to tear out and rebuild your entire kitchen to get major returns on a home renovation project. Opt for highly affordable and highly effective upgrades like new hardware for your cabinets and drawers. Painting your cabinets can also transform the entire space and result in more money on a home sale.
New fixtures like faucets increase your kitchen’s total value considerably, even if the upgrade is only for aesthetics. For an extra boost, try installing a water filter attachment or a built-in soap dispenser. DIY upgrades can help you save money and lower your cost, but consult a professional contractor if your renovation process includes electrical or plumbing systems.
Energy efficiency is always a major plus to prospective homebuyers. However, even if you’re not planning to sell your house, replacing your windows with energy-saving vinyl can bring massive returns.
Homeowners who replace their windows with energy-efficient upgrades can save hundreds of dollars on their central heating and air conditioning. With better insulated windows, you’ll not only get a decent return on investment with increased home value, but with lower energy bills as well.
Not every home renovation has to be a full home remodel. During the planning process, make sure that you’re only completing the necessary upgrades for functionality, ROI and home living experience, so you don’t end up with a huge undertaking that could end up costing you more.
Stephanie Englund Siegel is a successful Realtor with Compass. She was born and raised in the Northwest suburbs of Chicago. Living in the city for over almost 20 years has given Stephanie the in depth knowledge of many neighborhoods. Stephanie feels that Chicago's culturally diverse residents are what contribute to the richness and quality of life in its neighborhoods. Before joining the Compass Family, she worked as a paralegal for a real estate attorney which gave her the knowledge about every step in a transaction. From the very beginning of the process all the way to the end, Stephanie is dedicated to her clients and the success of the transaction so both parties get a win-win. Stephanie serves real estate needs in the following neighborhoods: Lincoln Park, Gold Coast, Streeterville, Loop, West Loop, South Loop, Lakeview, River north, Lincoln Square, Wrigleyville, Ravenswood, Greater Chicago area and surrounding suburbs.
