Hot Home Renovations – There are those of you who remodel based solely on your own interests and others who renovate based on the popular trends in housing. Each side has its pros and cons, but for the purpose of this article, I will focus on the hot housing trends that are sure to be popular in 2016. Call Ted at Plano Texas Handyman to discuss how we can make these a reality – 214-507-3415
Remodeling based on current and future trends vastly improves your odds of recouping the cost you put into the home. Like for instance a lot of people focus on shower glass in their bathrooms because they are on-trend at the moment. While very few projects recoup 100% of the total cost you put into it, some retrieve more than others. Therefore, I analyzed data from the three most recent Remodeling’s Cost Vs. Value reports to find the most ROI-friendly remodeling projects. Hot Home Renovations
If the past three years are any indication, the following 10 home remodeling ideas are sure to remain valuable in 2016.
1. Entry Door Replacement
Surprising to many, but the most valuable remodeling project for the last three years (in terms of cost recovered) has been entry door replacement (steel) and the value is only going up. From 2013 to 2015, the cost recouped was 73%, 97% and 102% respectively. Other possible replacements that are popular is new stair parts from Pear Stairs when they are either damaged or in need of a facelift.
According to our entry door replacement cost guide, the average cost to replace a front door ranges from $400 to $850. While the total cost and added value is not near that of major remodeling projects, such as full kitchen or bathroom remodels, in terms of ROI, entry door replacement can’t be beat. Hot Home Renovations
2. Bathroom Remodel
Moving to upscale projects, those that require more time and money, bathroom remodels will always be one the most popular home remodeling projects across the nation.
The bathroom, as we all know, is the most trafficked room in the home. It’s the only room that you must enter two times a day (assuming you brush your teeth twice) and one of two rooms (bathroom and kitchen) that really sells houses. No matter whom you ask, assuming all other elements of the home are sound, bathrooms and kitchens sell homes.
According to Remodeling, the average recouped value over the past three years has hovered around 60%. Nonetheless, as most bathroom remodels in their report cost around $51,000 (remember, upscale), the added value is quite high. Therefore, even if you put in $10,000 towards a bathroom, you can expect to retrieve $6,000 the day you sell the house. Hot Home Renovations
3. Garaged Door Remodel or Addition
Another high ROI renovation project is garage door replacement. Once again, the total added value does not compare to major remodels, but the percentage recouped is hard to beat.
The percentage retrieved for the last three years was 88%, 83% and 75% (2013). As you can see, we are trending in the right direction. Considering that the average garage door installation or replacement cost is $964, you can expect to recoup $848 at resale. Hot Home Renovations
4. Minor Kitchen Remodel
Sooner or later, we were going to get to the crown jewel of them all. The kitchen sells homes. If you want to get rid of your home, spend your money in the kitchen. This is where potential homeowners envision themselves and will more often than not, make or break the sale.
From 2013 to 2015, the average percentage recouped from minor kitchen remodels was 75%, 83% and 79%. By Remodeling’s standard, minor kitchen renovation projects are those under $20,000. Hot Home Renovations
5. Major Kitchen Remodel
While the average kitchen renovation may be less, many homeowners are spending more than $20,000 on their kitchen remodel projects. Fortunately, they are still recouping more than 65% of that cost back when it comes time to sell. Some of the kitchen aspects many homeowners remodel are:
Countertops
Cabinets
Flooring
Undercabinet Lighting
Lighting
Islands
Storage
Bare in mind that with a major kitchen remodel, all of your equipment and items will have to be moved out of the kitchen, . If a major kitchen remodel is something you’re considering, looking into something like pueblo co storage units to store your personal items during the renovation is a wise idea or try getting a Custom Cabinet Designer to do your new cabinets.
6. Deck Addition
Especially for those of you in the Midwest or East, many of us try to take advantage of nice weather throughout the year. After all, when at least a third of the year is ruined by snow, we learn to appreciate cool, sunny days.
One way to really take advantage of the nice weather is by enjoying it on a deck. According to the report, most homeowners recoup at least 80% of the total cost after adding a wood deck. That was a big increase from 2013 when there was only a 67% average. Therefore, as the average price to build a deck is $6,148, homeowners can expect to retrieve $4,918. Hot Home Renovations
7. Siding Replacement
Believe it or not, there are many different kinds of siding. While vinyl certainly dominated the industry last decade, other options are starting to creep up the list as more homeowners are going with wood, brick or stone as well. Hot Home Renovations
Nonetheless, many homeowners bought their homes with vinyl siding and do not want to change the exterior. Fortunately, the average recoup percentage for vinyl siding repair and replacement has increased for the last three years from 72% in 2013 to 78% in 2014 and 81% in 2015. Just know that while the average price to repair siding is $545, while the average to install balloons up to $7,415. Hot Home Renovations
8. Attic Bedrooms
Many homeowners are adding or converting rooms into bedrooms as a result of elderly parents moving in or children returning from college. Well, according to the report, many homeowners are converting their attics into bedrooms.
To no surprise, added bedrooms vastly increase the value of your home. Bigger families demand homes with more bedrooms and as a result, pay more. In 2015, the addition of an attic bedroom cost $51,000, but 77% of that was retrieved at the time of the sale. If you are considering adding a bedroom, but not sure if the cost is worth the headache, please see 7 Benefits Of A Home Addition. Hot Home Renovations
9. Window Replacement
The window industry has changed dramatically over the years as more homeowners become energy efficient. As such, they are replacing their old, beat-up windows with energy-efficient windows (from somewhere like MWT Windows, for example) that keep all that expensive warm air in the home where it belongs. In 2015, those who got a window replacement done retrieved roughly 75% of the total cost.
The overall price for replacement windows will depend on the window type and number of windows you choose to update. More often than not, residential window design and manufacturing companies will offer a discount to homeowners replacing more than three windows at once, so keep this mind if you are thinking of getting a new window installation.
10. Personalized Projects
Despite all the remodeling ideas above, personalized projects will always be on the list of most popular renovations. If you want to paint your kitchen orange, go ahead. If you want to add a third sink to your bathroom, do it! After all, you are the one living in your home. You have to stare at your kitchen walls and use that bathroom every day. If it makes you happy, do it.
Just know that when it comes time to sell, chances are, no one will enjoy an orange kitchen wall. Better to make all common, neutral updates before listing your home. Hot Home Renovations
Conclusion
If you are looking to recoup the value of your next home remodeling project, start with these 10 projects. If the last three years are any indication, they will remain some of the most valuable home renovation projects across the nation. Hot Home Renovations