People renovate their houses for three reasons: function, aesthetics, and resale.
Updating the place in which you live to better accommodate your lifestyle or to inspire joy will benefit your family immediately and is reason enough to make the changes. And the boost in resale value from additions and improvements is the icing on the cake.
Renovating for resale alone is merely a numbers game. In those cases, a simple cost-benefit analysis helps determine whether a project is a wise investment. Owners should pursue renovations that yield a positive return on investment (ROI) to maximize the payoff for what they put into the home.
That said, the best time to remodel a home is when you live in it, and the best mindset with which to embark on a remodel is to optimize your own living experience.
Adding space for a growing family, updating dated bathrooms, or sprucing up curb appeal to boost your mood every time you return home – those deliver an emotional return on investment every day. Remodeling to sell a house means the next person reaps all the benefits.
The High Value Renovations
Let’s consider the best home renovations from both an emotional and financial standpoint.
Pursuing a high ROI as the primary driver usually means smaller, more targeted projects. These tend to have the best return:
Finding the Right Balance for Your Investment
Some remodeling projects, like in-ground pools, major bathroom additions, or highly customized features, may not deliver the strongest financial return when it’s time to sell, but that doesn’t mean they aren’t worth considering.
The key is striking the right balance between creating the home you’ll love today and planning with resale in mind for the future. Our Renovation experts at Classic Remodeling, can help homeowners design spaces that fit their lifestyle while also making thoughtful choices that support long-term value.
Renovations That Make Us Happy
Of the $603 billion Americans spent last year on home renovations, much of it focused on improving the living experience, with only a sideways glance at resale. According to a National Association of Realtors survey, the remodeling projects that made homeowners happiest were:
Lower on the list are a new front door, a new garage door, and new siding.
Combining financial payoff and improved homeowner happiness suggests that a minor kitchen rehab and painting a room are the two big winners, with an updated front door, garage door, and siding also scoring high.
Let Us Help You Love Where You Live
Whatever is the best home investment for your circumstances, partnering with a reliable professional home remodeling company will save you time, money, and headaches.
If you’re ready to make your home inspiration a reality, reach out to Classic Remodeling. Our 30 years of superior performance, craftsmanship, and service provide you with peace of mind that the job will get done the right way, and provide you with years of enjoyment.