extensions

Renovations: Getting the most bang for your buck!

Renovation.jpeg

It’s no secret. Renovations are costly and can do a real number on your daily routine. Depending on how extensive your renovation is the time it could take stretches anywhere from a few days to a month. But, when done well, home renovations are a great way to increase the function of your home while also adding to its value. There’s a long list of things to renovate, and when you’re starting out the list of things you want will be quite long. But to get the most out of your renovation, check out these projects that bring the biggest return for your investment.

Bathrooms

Minor bathroom renovations – keeping the plumbing where it is and updating flooring, fixtures, tub and sink – can bring a return of just over 100%. To keep costs down and maximise space, take the shower doors off and replace with a glass wall covering about half of it creating an open shower to give the appearance of a bigger bathroom. Tiling your walls can be more costly and will take more time, but they are more durable in such a humid environment. New plaster and paint, however, will also work just fine. Price tag comes in around $11,000. For major bathroom remodels, you’re looking at a return in the 93% range. Still nothing to scoff at, but with a complete makeover priced around $26,000 you can have the bathroom of your dreams and recoup most of the costs.

Kitchens

Minor kitchen repairs – again, don’t knock down any walls and throw in a kitchen island just to have a kitchen island – will bring back around 98% of your investment. Replacing flooring with an inexpensive, sustainable bamboo click-lock option works. Upgrading your sink, fixtures, and countertops are a great idea. Switching to energy efficient appliances will run up the cost, but will also cut down on your water and energy bills. Instead of installing all new cabinetry, sand and refinish or paint your cabinet facing. Making small decorative changes – like new molding and trim – can also make a big difference. You’re looking at the $15,000 price range, but it will be worth it. Similar to bathrooms, with a major kitchen remodel (pretty much new everything) will total around $44,000 and return around 91%.

Landscaping

A big part of selling your house is its curb appeal. And while you may not be selling in the very near future, having a new front yard to welcome you home can also work wonders for your mood. You’re likely to spend way less than $10,000 on a newly designed and landscaped front or back yard, depending on what you want. While you’re updating your yards, consider drought tolerant plants and groundcovers to not only bring a unique new look to your home, but cut down on water usage while supporting the biodiversity of your ecosystem. Using grass and plants local to your area and implementing a stunning fixture, such as a fountain with recycled water, is a great way to bring beauty to your home and take care of the environment at the same time.

Windows And Doors

If saving energy is at the top of your to-do list, installing new doors and windows should be right up there with solar panels, energy efficient appliances and geothermal HVAC. It’s estimated that about 40% of heat and air are lost through seeping windows. You can always keep up with your windows by checking the caulking and weather stripping. But technology being what it is today, there are also a variety of options from low-e glass to argon gas inside the panes to retain heat and air, as well as prevent outside temperatures from affecting your indoor climate. In most climates, you’ll see savings in your energy bills, but also recoup about 89% of your investment.

When it comes to making home improvements for the sake of savings, resale value, and efficiency, there are a number of things you can do. Just be sure, whatever remodels you do choose to tackle, that your end product doesn’t go beyond your price range and also doesn’t price your home out of the neighborhood market. If creating a spa-like bathroom in the master bath bumps the price up too high, you could feel the effects in the sellability of your home. But with the right contractor and research on your end, you’re sure to come out on top.