When it comes to residential remodeling, homeowners frequently want projects that not only improve their lifestyle but also deliver a significant return on investment (ROI). For many people, this means that the kitchen, bathroom, and basement are some of the most valuable areas to improve. These high-traffic, multi-functional spaces frequently tip the scales when it comes to maximizing home values.
Residential Remodeling: Kitchen
The kitchen is the heart of the home, so it’s a great location to invest in. Minor kitchen remodels, such as replacing cabinet doors, updating appliances, and installing a new backsplash, can recuperate up to 70-80% of their cost. Not only that, but a remodeled kitchen can significantly improve daily functionality and visual appeal, which is an important selling feature for buyers.
Residential Remodeling: Bathroom
Bathrooms are another important area for ROI. Simple changes such as upgrading fixtures, regrouting tiling, or installing a new vanity can yield returns of 50-75%. Additionally, adding a second bathroom to properties that only have one can significantly increase resale value. Other upgrades, such as adding spa-like features like rainfall showers or heated flooring, increase perceived value and attract attention in competitive markets.
Residential Remodeling: Basement
An unfinished basement represents untapped potential. Finishing a basement to create a family room, guest suite, or home office might result in a return of 65-75%. Buyers value extra living space, and it can help set your house apart from others on the market. Adequate lighting, storage, and sufficient insulation are essential for having the basement feel like a true extension of the home.