The increasing home values in the United States have made home remodeling projects even more fun. There are two main reasons. One is that you are more likely to get a positive return on your investment into the project. The other factor is you don’t want to buy another home at an inflated price if you can modernize your own home and stay in the neighborhood you feel most comfortable.
The Key Trends in the 2016 Cost vs. Value Report says “Bigger and more expensive projects, rising new-home prices, curb appeal, and energy efficiency all contributed to a slight gain in remodeling projects’ payback at resale, the 2016 Cost vs. Value report shows.”
As Investopedia states “Historically and on average, certain projects, such as the addition of a wood deck, kitchen and bathroom upgrades and window replacement, have shown the greatest ROI regardless of the property’s location or the state of the residential property market.”
However, the best remodeling projects are those that come from desire, or, the opportunity to increase the value of your property. And then there is the chance that both of these can be achieved at the same time. That remodeling project that you have wanted to do for a long time can come together with the opportunity to also improve the value of your home. Now, that is a fun project to tackle.
Converting from small rooms to an open floor plans is often important enough for homeowners to tackle home improvement projects. You may like the exterior look of a traditional style or mid-century modern or cottage style home, but you can have and modern interior style. The open concept floor plan gives your home the appearance of being bigger. The open floor plan works best in a kitchen/dining area and for a family room.
Adding energy efficiency to your home is a cost saver as you stay in the home and adds to its resale value. The LEED guidelines are excellent for anyone looking to add value to their home, save money on energy costs and be active in protecting the environment.
Could you use an additional room for a home office or a guest room? Depending on the size and needs of your family, you might also want to add a bathroom or increase the size of the master bath.
Before you begin a project of this scale, consult with a professional contractor who can help you make the right choices when it comes to your kitchen renovation.
Veri Construction is an award-winning Certified NARI Remodeler, serving customers in New Jersey area.