TOP FIVE HOME REMODELING PROJECTS
Q. We are thinking about staying in our home and wondering what are the best projects to do in order to update our home and increase its value?
A. The National Association of Home Builders (NAHB) surveyed remodelers and found the following five most common remodeling jobs in 2012.
Housing market data reveals that small, smart remodels reward home owners with better return on investment and can help update and customize a home. Review these top five remodeling projects to assist you in your planning.
- Remodel the bathroom
Payback on remodeling a bathroom can reach 65 percent with new fixtures, tile, toilet, vanity and lighting. Low flow toilets consumer less water and can decrease the monthly water bill.
- Remodel the kitchen
A minor kitchen remodel can improve the look and utility of the space without costing a bundle, and yields a 75 percent return. Consider replacing backsplashes, cabinet fronts, countertops, and flooring. Installing low-flow faucets and energy-efficient appliances can also reduce water and energy expenses in a heavily trafficked room.
- Replace windows and doors
Updating windows can also return a solid portion of the investment (73 percent for wood frames and 71 percent for vinyl). New, energy-efficient doors and windows also help reduce energy leakage from the home and can bring down heating and cooling bills.
- Repair property damage
Property damage is a common but unfortunate occurrence. Seize misfortune as an opportunity to customize and upgrade the home. If you are already going to be inconvenienced with major home repairs, take that time to plan and incorporate home remodeling that may have been put off in the past.
- Whole house remodeling
Repairs and replacements of old components and the desire for upgraded amenities were cited as the top reasons for customers to hire a remodeler. Evaluate the use of the entire home to see if it fits your needs. Home owners are repurposing spaces to fit their families and making more efficient use of their home’s square footage and equity, rather than moving to a new home and mortgage.
Smart remodeling projects for improving the home can make the home more comfortable for your lifestyle.