If you’re looking to renovate your home or condo, you might be asking yourself, how much would I have to spend and which architects builders I have to hire? Well, the simple answer is, it depends.
If you’re planning to stay in your house or condo for at least the next five years, you can easily spend some money according to your budget on some renovation projects. However, if you’re looking to move within the specified time, you should prefer taking a different route. If the latter part is your condition right now, you should spend on things that will provide you with better ROI.
Here are some of the best areas of your condo/house to renovate that will actually be worth the money you spend.
Experts in the real estate industry say that kitchens sell houses. It is at the center of your house (metaphorically speaking). Homeowners actually like to spend some quality time in their kitchen. Everyone likes to have a great feeling when they sit in their kitchen with their family to spend some quality time.
You can make a mid-range kitchen remodel, and it will give you better ROI than a high-end remodel. An average kitchen remodel usually has around 54 percent ROI.
The materials you choose in remodeling your kitchen can actually impact the speed at which it sells. However, no matter what you use in the kitchen renovation project, don’t spend too much money, as you can’t get over the average rate of property sale in your area.
If you look carefully, you can upgrade a lot of things in your bathroom, and do a great renovation project for your bathroom to increase the overall reselling price of your property. You can get a master bath project done on your bathroom if you want to get a high-quality bathroom renovation.
In some cases, it might be less expensive to add a new bathroom to your bathroom rather than renovating the current one. However, you should look for the features that attract the customers more. That is if you’re looking to sell your house/condo after the renovation. If you want to get a high end renovation, you can go with a wider shower, additional body sprayers, custom tiles on the floor and other special details. In short, the options are literally endless when you’re renovating your bathroom.
High-end home addition projects like adding a new master suite, can cost you a lot of money, but these things come with higher-than-normal ROI as well. Many home renovation experts have seen the ROI get much higher if the addition project is well thought out.
Home addition projects can end up being counter-productive especially if you change the appearance of your house with the project. You should therefore decide on the home addition project after consulting with an expert.
A Refinished Basement
It is not applicable to most condos but a good option for houses. By using the unused basement space in your house, you can increase its footprint. While it is a great way to expand your livable space, you shouldn’t expect a high ROI when selling your house. That is especially true when you add non-functional things like a gaming room in the basement. However, the ROI is higher for the projects which add a living room, or a guest room to your house. So, the ROI value of your refinished basement will largely depend on the things that you’ve added to it.
So, when refinishing your basement, see what you’re adding to it. If the basement is being converted into a rec space, then it might not be better than a room you already have upstairs. However, if you’re adding a bedroom or a home office, that will be more valuable in terms of ROI. After all, who wants to use a corner of their bedroom as a home office.
Keep in mind that adding a bathroom might look like a good deal, but if it takes adding more plumbing, that can increase the overall project budget, and hurt the ROI of your remodeling project.
So, you should think carefully when doing condo remodeling DC. After all, doing the remodeling project in the wrong way can actually hurt the ROI of your project in a negative way.