Home improvement projects are an important part of being a homeowner. These projects are necessary for keeping your home up and running and creating a living space that suits you best. Several home improvement projects can also help increase your home’s resale value.
Downers Grove is a great place to live. It is filled with coffee shops and restaurants and has some of the best public schools. However, living in Downers Grove can be quite expensive. In fact, the cost of living here is 31% higher than the national average. This is mostly due to the high real estate prices and taxes.
Similarly, home improvement projects can be quite costly, too. An average renovation project in DuPage County can range from $11,894 to $95,157. So, as a homeowner in Downers Grove, it is necessary to invest in the right renovation projects as they are not only expensive but can also have a major impact on your home’s value.
Projects that Will Boost Your Home’s Value
As a home improvement project can be a huge undertaking, it is natural to be confused about what might be the right step for you. So, here is a list of home improvement projects with high returns on investment to help you plan your next renovation.
Remodel the bathroom
Remodeling your bathroom can have a great impact on your home’s value. Bathroom remodels in DuPage County can cost anywhere from $3,969 to $19,312 and give a return on investment of around 70%.
Considering the ROI you can get on a bathroom renovation, it would be wise to hire the best Downers Grove bathroom remodeling experts to make sure nothing goes wrong. You can discuss your requirements with the experts and develop a plan that fits your budget.
However, it is vital to remember that you don’t always need to go for a full-blown renovation. Instead, you can make several small changes to your bathroom’s interior while staying within your budget. For instance, you can replace the showerhead or bathtub, get new fixtures, paint, or add efficient storage solutions such as a medicine cabinet.
Replace the garage door
If you have a garage door that looks outdated or is difficult to use, getting a new one can work wonders for boosting your home’s value. Garage door replacements can give you an ROI of 102.7%.
A new garage door can help improve your home’s exterior and boost curb appeal, which can help attract more buyers. However, you can also enjoy many other benefits of a garage door replacement, even if you don’t plan on selling your home soon. For instance, it can increase safety, improve insulation, reduce maintenance, and increase your garage’s utility.
Painting the interior and exterior of your home is important, especially before it is time to sell. Repainting your interior can help boost your home’s value by 5% and give an ROI of 107%. New paint can help give your home a fresh look and make it look brand new, which can help attract more buyers and better offers.
Update the exterior with stone veneer
Improving your home’s exterior is crucial for increasing its overall value, as it can help attract more buyers. Adding stone veneer is an excellent way to improve your home’s exterior while increasing its value.
According to recent surveys, installing stone veneers can cost around $10,386 and give an ROI of 92%. So, if you’re looking for a suitable way to boost your home’s exterior, a stone veneer might be perfect.
Remodel your kitchen
Kitchen remodels can also be great for increasing your home’s value. However, minor kitchen remodels have a higher ROI as compared to major kitchen remodels. So, while planning your kitchen renovation, it is necessary to remember that less is more.
But what does a minor kitchen remodel include? Well, it can include anything from replacing old fixtures, such as the sink or faucet, to adding new floors. You can also get new cabinet doors, replace the oven range, and invest in better and improved appliances.
Invest in hardwood floors
Hardwood floors can completely revamp your living space and give your interior a whole new look. These floors can also increase your home’s value by 3% to 5%. This home improvement project is relatively more affordable and gives a good return on investment as well. So, if you plan on selling soon and your flooring has seen better days, it is recommended to invest in hardwood floors to increase your home’s value.
Finish the basement
Finishing the basement gives your home more heated and usable footage, which can be an eye-catching feature among home buyers. However, basement remodels can be quite expensive. An average remodel in DuPage County can cost around $9,101 to $39,820. However, it can give you a return on investment of around 75%.
So, investing in a basement remodel can boost your home’s value and allow you to enjoy the new addition if you don’t plan on selling soon. You can turn your basement into a home office or use it for entertaining.
Increase curb appeal
Curb appeal accounts for around 7% of your home’s value, as the first thing buyers will notice is the exterior. So, it is necessary to maintain your home’s curb appeal, especially if you’re putting your home on the market soon.
There are many ways to improve curb appeal. For instance, you can get new exterior doors, paint the exterior, update the house numbers and mailbox, or add stone veneer. It is also important to keep your lawn mowed and get some colorful and attractive plants to make your front yard more appealing.
Invest in energy-saving appliances
Investing in eco-friendly appliances can help you create an energy-efficient home as they can help reduce energy consumption and reduce the waste of important resources like water as well. Home buyers also prefer homes with new, eco-friendly appliances since they result in lower utility bills.
There is no doubt that home improvement projects can be expensive, but they are important for improving a home and keeping it functional. So, when you think about your next home renovation, it is necessary to pick projects that not only help you achieve your design goals but also boost the value of your home. This can allow you to enjoy the new additions to your home and make it easier to sell when it’s time to put your home on the market.