Interested in performing some upgrades to your home in 2021? If you’re doing so partially to add value to your home, you should consider which projects are most likely to deliver a high ROI.
Based on some of the industry trends the best home renovation companies in Lancaster, CA saw for remodeling projects in 2020, here are some of the best ways for you to give your home some much-needed upgrades while also boosting its value:
- Finish the basement: Finishing the basement gives you much more livable space that you can account for in your home’s square footage. In most cases, you will be able to recoup up to 70 percent of the cost of refinishing the basement in home value. The price you can expect to pay depends on the extent of the project. Just adding drywall, flooring and paint might not be too bad, but if you’re also adding plumbing, new electrical fixtures and heating, that could make things significantly more expensive.
- Replace the garage door: A new garage door essentially pays for itself if you’re able to keep the existing opener. You can expect a 95 percent ROI in most cases at resale when you get a new garage door, as this will significantly enhance your curb appeal.
- Painting: A fresh coat of paint goes a long way toward boosting curb appeal. Even minor touch-ups can help you make the paint look significantly better. For interior painting, neutral colors tend to have a better ROI than more “interesting” colors, because they’re much easier to work with and coordinate with a wider range of décor.
- Installing or refinishing hardwood floors: Hardwood floors are among the most sought-after features for home buyers. Refinishing hardwood floors will give you a significant return on investment, as the new finish will last for years and also significantly add to the visual appeal of your home.
- New roof: If you’re in need of a new roof, it’s a good idea to put it on before you sell the house, because buyers don’t want to have to take on a significant maintenance job. Replacing a roof will result in a significant increase to your home value.
- Improved HVAC: If there are any HVAC upgrades you need to make to your home, such as new air conditioning or furnace equipment, cleaned ductwork or an upgraded thermostat, these are enhancements new buyers will appreciate.
- New siding: If your siding is in rough shape, adding new siding can be a significant investment that will definitely help you to boost the value of your home. Again, this is the kind of job that a new home buyer isn’t going to want to take on themselves, so taking care of it for them is worth quite a bit in added value to your home.
- Remodels: Remodeling the kitchen or bathroom in your home can add quite a bit of value to your home. You don’t necessarily have to do a significant remodel to make a difference, either!
For more information about some of the best ROI projects for home remodeling and the best home renovation companies in Lancaster, CA to work with to get them done, contact JB Construction today.