Three Smart Renovations
Deciding which home renovation projects to do in an old house isn't always easy. Many people have a limited budget and want to make sure the renovation projects they choose will enhance the value of their home. The following list suggests three home remodeling projects that will help you get the most return on your money.
- Cook up a Welcoming Kitchen
Kitchens are at the top of the list for renovations in most houses. Many people spend a lot of time in the kitchen and want a cooking area that is functional and comfortable to be in. According to Remodeling magazine, the price of a mid-range, major kitchen remodel averaged $43,862 in 2005, and recouped 91% of that cost when the house was sold. A mid-range minor kitchen remodel averaged $14,913, and 98.5% of the cost was recouped. Even if you don't have a large budget, you can get your cabinets refaced, replace worn flooring and countertops, or buy a new sink to spruce up your kitchen.
- Remodeling Your Bathroom is Wise Investment
Many home buyers head straight to the bathrooms when looking at a home they're considering purchasing. The average cost to do a mid-range renovation of a 5x7 bathroom was $10,499 in 2005, and homeowners recouped 102.2% of the cost according to Remodeling magazine. Of course the cost of your bathroom renovation will depend upon the quality of the fixtures you choose as well as lighting and type of materials.
- Replace Exterior Siding
New siding on a home can give it a cleaner, more modern appearance. Replacing exterior siding cost homeowners an average of $10,393 in 2005, and they recouped 103.6% of the expense according to Remodeling magazine. Keep in mind that how much your investment in new siding pays off may depend upon which area of the country you live in.
When doing any home remodeling project it's important to keep in mind which colors, styles, materials, and features will appeal to potential homebuyers when you finally decide to sell. Very customized details that are expensive to change or remove may make it tough to find a buyer.
About the Author
Francine L. Huff is a freelance journalist and the author of The 25-Day Money Makeover for Women. She has appeared on a variety of TV and radio shows.