‘Tis the season for gift-giving, so why not give yourself a gift too, with renovations that increase home value? The ROI (return on investment) differs from project to project, but in general, there are some tried and true home renovations that you can count on to maximize your return at resale. Keep reading to learn some of the best home renovations for resale value, and give us a call at 678-807-7900 for more information on our historic restoration, demolition, and environmental abatement services for Atlanta homes.
Home Renovations with Great ROI
You’ve probably heard about the concept of “curb appeal,” and one of the best ways to improve your home’s curb appeal is an exterior paint job! It’s so simple, but exterior house painting really does make a big difference. Fresh paint makes your home look well-maintained (which puts potential buyers at ease) while chipping or faded paint will make it look shabby… And may even prime potential buyers to think that other parts of the home are in disrepair.
If your home was built prior to 1978, you may also need lead paint removal and abatement. Lead paint can be very dangerous, causing everything from kidney damage to neurological diseases. According to a study from the Institute of Labor Economics, lead remediation can provide an ROI of 160%!
Another project that delivers good ROI is roof replacement. According to some studies, replacing your roof has an ROI of 109%. Depending on your home’s age, you may need asbestos remediation. Asphalt shingles are common on houses built before 1989, when the material was banned due to its carcinogenic properties.
Kitchen and Bath Updates
Some of the best “bang for your buck” can be found in kitchen and bath renovations. These areas have a huge impact on the visual appeal of your home, and you don’t have to do a full gut renovation in order to reap the rewards. Simple upgrades like installing new countertops or resurfacing cabinets can totally change the appearance of a space.
Attic or Basement Conversions
Unfinished attics and basements are an opportunity to improve both the value of your home and your enjoyment while living there. A typical basement renovation might include a bar, small bathroom, recessed lighting, flooring, and of course water-proofing measures. Whether you turn your basement into an entertaining space, a craft studio, or a home gym, taking the steps to “finish” the space helps you make the most of your home, and can be an attractive incentive to potential buyers.
Attics are also strong contenders for renovations, with the most common attic conversion being a bedroom suite with an attached bath and closet. With ROI rates of 82% to 105%, an attic renovation can be another smart way to get the most out of your home.
It’s important to remember, however, that older homes may have asbestos insulation to contend with. If your home was built from the 1930s to the 1980s, call us! We provide asbestos removal in Atlanta and surrounding areas, and we’re happy to give you a free estimate.