5 Simple Home Improvements That Can Increase Your Home ROI Significantly
Renovations do a lot more than patch up the wear and tear that builds up over the years. They even do more than bring your home into the present. Nope, you’re not just sinking money into a pit, wasting money on a bunch of superficial changes. Even the simplest renovations can add value and vitality to your property, going well beyond your initial investment for a final result that leaves a strong impression.
Check out these five uncomplicated home renovations available through Gilbert + Burke. For relatively minimal time and effort – you likely won’t have to live outside your home while work is underway – each of these will go a long way in delivering an outstanding return on your investment.
1. Replace laminate countertops with solid surface, and upgrade your kitchen sink and faucet at the same time. The average cost of these improvements will run between $6000 and $8000, but the impact on your home’s value will be substantially more. (For a wider range of kitchen reno ideas, check out our list of current kitchen trends.)
2. Repaint the interior. The average cost of a DIY paint job can run about $500. Hiring painters to do the job for you can run you between $3000 and $6000. Consider if your time would be better spent doing something else. Though the final price tag can range widely based on how big the house is, in any event, this super-simple reno can net you a good return on investment.
3. Replace your living room’s frayed and dusty old carpet with hardwood or tiled flooring. This can run an average cost or $3000 to $4000. The ease with which you can clean the floors, the gorgeous, timeless appearance, and reduction of dust will add a lot more to your house’s value.
4. Replace your bathtub and its tiled surroundings and fixtures. Swapping out your old tub for a new one can typically run about $4500 and up, but the end result can transform your bathroom. Investing in a freestanding bathtub and completely redressing its surroundings will turn it into an escape where you can unwind and soak your cares away. The return on investment will show in how much more time you spend in the bath, as well as on the market.
5. Another simple improvement to your bathroom is to add a vanity or faucet, or replace a toilet. Each of these can run from $750 up to $3900, if you don’t do your own plumbing. Besides adding a fresh look to your bathroom, replacing a toilet with a low-flow one will make your home more environmentally efficient and save resources. Needless to say, for what you invest, these practical and attractive improvements will add significant value to your house. Talk about efficient!
6. (Bonus!) While we’re at it, let’s add one more improvement that can give a solid boost to your home’s value. Staying in the bathroom, adding tiled in-floor (AKA radiant) heating will make you happy, especially on cold winter mornings when you step in barefoot. This will run an average cost of $3500 and up, depending on the floor area and tile you choose, but the mere thought of cozy feet – not to mention a more efficient use of energy – are a good bet to provide a strong return on investment.
With just these simple renovations to a few select areas of your house, you can update the feel of the whole property and add a great deal more market value. Of course, add them all up, and you’ll enjoy the best of both worlds: an established property with the features and style of the latest homes.