What’s on your home improvement checklist this season? Whether you think one or a few spaces are due for a mini-makeover – or in need of a total redesign – choose renovation projects that provide the greatest return on investment. You don’t have to be in the market to sell to add value to your home! Discover which home renovation projects have the highest ROI, then stop in to National to take advantage of our free in-store design services!
1. Midrange Bathroom Remodel
You might think you have to do a major overhaul to get the best ROI for your bathroom, but the reality is that a midrange remodel can actually provide greater value. From new tile to fixture updates, this remodel doesn’t have to have a large price tag to make a big impact.
2. Finishing Basement
From waterproofing walls to adding lighting, flooring and more – finishing your basement can not only add extra square footage, it also boosts the resale value of your home. To get the best bang for your buck, it is advised to not spend more that 5-10% of your home’s value on refinishing your basement.
3. Minor Kitchen Remodel
Since you’re unlikely to recoup 100% of the money you spend on a kitchen renovation, the best kind of kitchen remodel is one that you can enjoy yourself before selling. Many people are even deciding to remodel instead of selling, However, if you are trying to get the highest ROI, minor kitchen remodels are the way to go. While we can’t do all minor kitchen updates at National, we can provide products and services for many of them!
4. Opening Floor Plan
An open floor plan is on many buyers’ wish lists – about 46%. Knocking out a wall or two can help create a more spacious layout that will help sell your home faster and for a higher value. In addition to improving the flow for your living room, dining room, and/or kitchen, an open floor plan also allows for more natural light.
5. Replace Garage Door
Want to take on a project that practically pays for itself? A new garage door, if you reuse the existing motorized opener, has about a 98% ROI at resale. Upgrading or updating your garage door also adds curb appeal which attracts homebuyers.
6. Upgrade to Hardwood
If your carpet or other flooring has seen better days, upgrading to hardwood floors in your home will help increase the appeal of your home and add to its value – potentially up to a 2.5% increase on the sale price. Hardwood flooring also provides the durability needed to keep your home’s floors looking great for decades, so even if you’re not planning to sell yet they are still a great investment.
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