Are you getting the spring cleaning itch yet? It happens around this time of year, when you are stuck inside waiting for the frigid air outside to warm. Unfortunately you have a couple more months of the cold, but that doesn’t mean you have to spend it all just waiting. Boredom is undoubtedly one of the reasons you are looking forward to spring cleaning, but why not take it a step further and renovate a part of your home? Late winter and early spring are popular times to consider home renovations. Many people who do renovate during this time find that their time is well spent. To help you decide on which renovation project to take on this spring below are the most popular springtime renovations with the biggest return on investment potential.
The kitchen is the heart of the home and the most important room when it comes to home evaluation. While some sites claim that kitchen renovations only bring in 70-80% ROI this is in fact just the worst-case scenario according to professional kitchen designers. The truth is kitchen renovations have the potential to be the most lucrative, and enjoyable, investment you can make. You just need to know how to stretch your budget and not over invest. Kitchen designers recommend using no more than 7% of the value of your house to renovate your kitchen for maximum ROI.
Bathrooms come in as second most important when it comes to evaluating your home. That’s the main reason why they are second on this list. The other reason is that bathrooms tend to see a higher ROI is that they cost less to renovate than other rooms. Bathrooms easily make a ROI of 75 – 100% when you go to sell your house.
Flooring used to be a challenging do-it-yourself renovation. But with an ever-increasing number of easy-install products this may just be the winter project for you. Renovating the flooring in your house can dramatically change the look and feel of every room in your home without having to actually renovate every room. If you have carpets, installing hardwood floors will generally see a ROI of 1 – 1.5 times the cost.
Remember that these ROI numbers might be different if you intend to continue living in your home for many years. Spending more will be worth the investment as the results will be durable and hopefully not need a redo later.