Q. Which remodeling projects pay the largest dividends?
A. Home owners considering planning to stay in their home should know about remodeling projects that increase the home’s usefulness and make it better to live in. A 2012 National Association of Home Builders (NAHB) survey of remodelers found the following five most common remodeling jobs.
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 and begin planning to remodel during National Home Remodeling Month.
TOP FIVE HOME REMODELING PROJECTS
- 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