7 Home Improvements that Pay Off
Take a look at these 7 home improvements that pay off and will help increase your homes value. Put money back in your pocket when the time comes to sell with these 7 projects.
Minor Bathroom Remodel
Average return at resale: 102 %
The average cost of a minor bathroom remodel is around $10,500, this would include the cost of replacing the tub, tile surround, floor, toilet, sink, vanity and fixtures. On average you will get back around $10,700 at resale, a recoup rate of 102%.
Average return at resale: 100%
The average homeowner spends roughly $3,500 for landscaping, if you chose to hire a designer in your landscaping process you probably spent about $1,400. Sod costs about 30-35 cents per square foot, a 5,000 square foot yard would cost around $1,500 to fully sod. Charming landscape can be a major plus when reselling a home, enhancing your homes outer look increases your chances for a positive first impression when potential buyers come around.
Minor Kitchen Remodel
Average return at resale: 98.5 %
Minor kitchen remodel jobs cost on average about $14,900 and have a resale value of $14,690, a recoup rate of 98.5%, minor kitchen remodels are purely cosmetic updates, much more affordable than a drastic major remodel. Adding or refacing cabinets and drawers, cook top, sink and fixtures, countertops (laminate) and resilient flooring. Brighten up the kitchen by sanding and painting existing cabinets. It’s much less expensive than buying new ones, add decorator detail without the cost by changing drapes and window molding.
(Vinyl Siding, Paint, Updated Front Entry)
Average return at resale: 95.5 %
Exterior improvements including vinyl siding, paint, and updating the front entry on average cost about $7,250 for siding, with a return of $6,900, and a recoup rate of 95.5%. Upscale, fiber-cement siding costs $10,393 and returns $10,771 at resale, an even better recoup rate of 103.6%. To update your homes exterior remove old awnings from the doors and windows, swap out damaged railings for more modern wood supports and give that bare porch a makeover by adding fresh potted flowers and a bistro set.
Attic Bedroom Conversion
Average return at resale: 93.5%
Converting your attic into a bedroom will cost you around $39,200 if you plan on adding up to two or three more rooms. The resale value is about $36,650 with an average recoup rate of 93.5%, the pricing includes a 15 x 15 ft bedroom, a 5 x 7 ft bath with shower and a 15 ft dormer with four windows and a closet. Be sure to add attic insulation to keep your utility bills low, make sure the foil vapor barrier is installed down toward the ceiling to prevent any moisture from seeping up. Also keep in mind whether or not your HVAC system can handle another room, if not you need to factor in the cost of a second unit.
Major Bathroom Remodel
Average return at resale: 93.2%
A major bathroom remodel involves expanding an existing 5×7 ft. bathroom, relocating / replacing the tub and toilet and adding designer sinks and faucets, a linen closet, lighting, a ceramic tile floor and exhaust fan for a cost of $26,000, and brings in about $24,300 at resale. Start at the bottom by replacing old floors with fresh tile in ceramic or stone for a solid payoff. It’s a good idea to buy some extra tiles in case you break any during installation. Set some tiles aside at the end of the job for future repairs. Updating an old vanity a with a new countertop for a clean, fresh look potential buyers will love.
Major Kitchen Remodel
Average return at resale: 91%
A complete kitchen remodel in a midrange home averages to about $43,900 and returns about $39,900 at resale. That price includes 30 ft. of cabinets, an island, laminate countertops, stainless sink, wall oven, cook top, vinyl flooring and appliances. If your home’s value increases and your kitchen’s finishes don’t, do a major remodel rather than small fix-ups. You should budget 10%-15% of your home’s value remodeling the kitchen.
We hope you’ve found this post on home improvements that pay off helpful when deciding on what home improvement projects you should get started on. Remember for affordable dumpster rentals that won’t break your budget call us at Dumpster Rental Inc! We service nationwide and can provide you with the perfect size dumpster rental for all of your home improvement waste needs.