• Cannabis Laws and Commercial Drivers
  • What Insurance Do Contractors Need?
  • Mobile Equipment and Vehicle Fire Prevention
  • Is Your Business at Risk For Flooding?
  • 3 Small Business Risk Management Tips For Winter

5 Home Improvement Projects That May Have the Biggest Return on Investment

 

Conventional wisdom has long held that kitchens and baths sell homes. Those are also two of the more expensive areas to tackle for home improvement, but if you make sound design and material decisions, you could end up making your home more appealing to potential buyers — and a more enjoyable place for you to live.

A recent study from the National Association of Realtors1 confirms that kitchens and baths still top the interior home renovation projects that appeal most to potential buyers. The survey ranked the projects’ likely value to the home for resale. These five home improvement projects can potentially provide the biggest bang for your buck for ROI.

1. Complete Kitchen Renovation

NARI Remodelers’ cost estimate for the project: $60,000
REALTORS® estimated cost recovered: $40,000
Percent of value recovered from the project: 67%

The look and feel of a kitchen can serve as shorthand for how up-to-date the owners have kept a house. Potential buyers have been known to rule out homes based on kitchens alone. Stainless steel appliances and granite countertops continue to be on many buyers’ checklists, especially those who want to move right in and start entertaining.

The top reason for renovating a kitchen, cited by 36% of homeowners, was to upgrade worn-out surfaces, finishes, and materials. According to the Remodeling Impact Report, 12% of realtors said a completely renovated kitchen most recently helped them cinch a deal, resulting in a closed sale.

2. Kitchen Upgrade

NARI Remodelers’ cost estimate for the project: $30,000
REALTORS® estimated cost recovered: $20,000
Percent of value recovered from the project: 67%

A less expensive alternative to completely gutting a kitchen is an upgrade. Replacing dated appliances, refinishing cabinets and changing out tile backsplashes are some cost-effective updates that can still modernize a kitchen and make it more appealing to buyers. Read More

Recent Articles & News
  • Cannabis Laws and Commercial Drivers
    anemptytextlline
    anemptytextlline
  • What Insurance Do Contractors Need?
    anemptytextlline
    anemptytextlline
  • Mobile Equipment and Vehicle Fire Prevention
    anemptytextlline
    anemptytextlline
  • Is Your Business at Risk For Flooding?
    anemptytextlline
    anemptytextlline
  • 3 Small Business Risk Management Tips For Winter
    anemptytextlline
    anemptytextlline
  • How to Build an Emergency Survival Kit
    anemptytextlline
    anemptytextlline
  • Renovating Your Home to FORTIFIED Standard
    anemptytextlline
    anemptytextlline
  • The Pros and Cons of Composite vs. Wood Decking
    anemptytextlline
    anemptytextlline
  • Hiring a Contractor Checklist and Tips
    anemptytextlline
    anemptytextlline
  • Questions to Ask Your Home Inspector
    anemptytextlline
    anemptytextlline
  • Buying vs. Renting a House? Five Questions to Consider
    anemptytextlline
    anemptytextlline
  • How to Help Prevent Offline Identity Fraud
    anemptytextlline
    anemptytextlline
  • 6 Essential Travel Tips
    anemptytextlline
    anemptytextlline
  • A New Sweep of Smart Home Security Devices
    anemptytextlline
    anemptytextlline
  • Make My Front Door Smarter
    anemptytextlline
    anemptytextlline
  • Preparing Your Home for Vacation
    anemptytextlline
    anemptytextlline
  • Premises Security and Liability
    anemptytextlline
    anemptytextlline
  • Breweries and the Craft of Managing Risks
    anemptytextlline
    anemptytextlline
  • New Car Replacement Coverage
    anemptytextlline
    anemptytextlline
  • What Does Loan or Lease Gap Insurance Cover?
    anemptytextlline
    anemptytextlline
  • Liability Insurance Coverage
    anemptytextlline
    anemptytextlline
  • Uninsured/Underinsured Motorist Insurance Coverage
    anemptytextlline
    anemptytextlline
  • Staying Safe Around Heavy Equipment
    anemptytextlline
    anemptytextlline
  • Protecting Your Construction Site from Fire, Water and Theft
    anemptytextlline
    anemptytextlline
  • Earthquake Facts and Safety Tips
    anemptytextlline
    anemptytextlline
  • Disaster Planning Guide
    anemptytextlline
    anemptytextlline
  • Returning to Your Property after a Hurricane
    anemptytextlline
    anemptytextlline
  • Hurricane Survival Guide: What to Do During and After the Storm
    anemptytextlline
    anemptytextlline
  • Hurricane Facts and Myths
    anemptytextlline
    anemptytextlline