What Remodeling Projects Add the Most Home Value?
Remodeling projects refresh a home’s appearance and enhance its livability, but that’s not all they do.
When well-planned and well-executed, remodeling projects can increase home resale value or offer a return on investment as high as 193.9%. However, not all home remodeling projects have the same ROI.
It’s important to understand what homeowners in the Chicago area are looking for and what types of remodeling projects are most likely to recoup their partial or full cost. While a second-story addition might be at the top of your list, a new, state-of-the-art kitchen will have longer-term gains when you’re ready to sell your home.
Here, we’ll cover a handful of home remodeling projects that increase resale value in Chicagoland.
Kitchen Remodels
A functional, attractive kitchen is a significant selling point when showing off a home to prospective buyers.
Kitchens are one of the most-used rooms in a home and are vital. A full kitchen remodel has a high ROI, up to 49.5% for midrange upgrades and 38% for upscale, custom projects. When expertly remodeled, a new kitchen is a wise investment that subsequent homeowners will enjoy for years to come.
Many buyers today expect modern amenities like energy-efficient stovetops and soft-close cabinets. Remodeling countertops, cabinetry, and appliances like ovens, dishwashers, and refrigerators, will instantly boost resale value.
Bathroom Renovations
A modern bathroom is a haven of serenity and comfort. Make sure your bathroom inspires both.
Bathroom remodeling is a popular project, as it offers a high payoff in terms of lifestyle and home value. Adding stylish fixtures, upgrading outdated tiling, or installing double vanities will provide polish and appeal. Buyers today are also looking for ample storage space and spa-like enhancements.
Basement Finishing
It’s no surprise that a basement conversion makes our list. A finished basement can dramatically increase your livable square footage or become a home entertainment area.
We have helped our Chicago-area clients transform their basements into guest suites, home offices, recreation rooms, and more. A potential buyer will appreciate the versatility and added space that a finished basement provides.
Curb Appeal Enhancements
Attracting buyers to your home starts with a great first impression. Exterior remodeling projects yield some of the highest ROIs, and have for the past 30 years. Replacing entry doors, garage doors, or home siding all increase resale value. Landscaping also heightens curb appeal, so it’s well worth considering a front yard touchup.
Trust LivCo With Your Remodeling Projects
Not all home projects are built equal. LivCo takes a dedicated approach to ensure that our Chicago-area clients enjoy superior remodeling results with high-value gains.
As one of Illinois’ leading home remodeling companies, we offer a streamlined process that centers on homeowners’ preferences. We enjoy working closely with our clients on concept, product selection, and design style.
Our creative professionals and on-staff architects make home visions a reality through customized, tailored builds.
Love where you live. Get started today by scheduling a home remodeling consultation for your Chicago, IL, home.