In order to get the most bang for your buck, it’s important to partner with the right kitchen and bathroom remodeling company. By creating a budget and working closely with your contractors, you can enjoy the enhancements you make and increase the value of your home. If you want to improve the look of your home, you’re not alone. According to Comfy Living, in 2018, the global home improvement market exceeded $800 billion.
The question is, where can you spend your money the most wisely? According to Zillow, most homeowners will make more than two improvements prior to selling. Keep reading to find out which renovations will pay off the most at the closing table.
Best Return on Investment Renovations
It’s important to hire a reputable kitchen and bathroom remodeling company if you plan on changing these two crucial rooms. A minor kitchen remodel cost around $26,000 and may increase your selling price by $19,000. This is an ROI of 72%.
Prices for bathroom renovations vary widely, depending on the extent of work that you do. However, bathrooms are one area that buyers pay close attention to. Therefore, the ROI on upgrading your bathroom is also high.
Adding a deck to your home could increase the value by more than $11,000 and cost you nearly $17,000, for a return on investment of 63%. Meanwhile, replacing your garage door costs just over $39,000 and improves your sales price by nearly $3,700. That’s an approximately 94% increase on ROI.
Replacing your vinyl windows costs around $16,500 and increases your sales price by more than $11,000, equating to a 68% return on investment. Small changes such as replacing your entry door can also pay off when it comes time to sell. A new entry door installation could cost nearly $2,100 and add about $1,400 to your sales price, a 65% return.
Replacing vinyl or wood windows costs about $19,000 and $23,000, respectively. The return on investment for vinyl window replacement is around 69% while the return of investment of wood window replacement is around 64%.
Siding replacement comes with a big price tag of nearly $20,000. However, you can recoup over 69% of that to increase your sales price by more than $13,600.
Find the Right Kitchen and Bathroom Remodeling Company
It’s important to spend time vetting out the right kitchen and bathroom remodeling company if you are planning to renovate these two rooms. It’s always important to work with professionals, get an up-front estimate, and consider how renovations impact the value of your home. Contact Laguna Kitchen and Bath today to get started on your next remodel!