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September 29, 2020

5 Remodels Most Likely to Return a Profit

You aren't always guaranteed to make back the money you spent on renovations. So how do you know which remodels are worth it? Read our list of the home updates that are most likely to pay off.

1. Landscaping

Curb appeal is actually a very significant factor in the value of your home when it’s time to sell. A freshly paved driveway, an inviting walkway, and an assortment of greenery and colorful plants can increase the value of your home. Undertaking a landscaping project is a good idea if you’re hoping to make back the money you spend on it.

2. Minor Kitchen Remodel

Doing kitchen projects such as re-facing cabinets and drawers, updating sink and fixtures, and replacing the countertops and flooring are examples of updates that have the potential to pay off.

3. Bathroom Remodel or Addition

Replacing the tub, floor, toilet, sink, and fixtures isn’t a bad idea when you’re looking to make home improvements that will be more likely to pay off. With bathrooms being an important part of a home, adding a bathroom can also increase a home’s value and appeal.

4. Basement Remodel

A finished basement is a big deal, and this type of remodel offers the possibility of making back some or all your investment. Adding a bathroom in the basement is a little bonus that could greatly contribute to an increase in your home’s value.

5. Deck Addition

Adding a deck or porch is a good investment if you’re looking to be able to recoup most of the cost of putting it in. Make sure to put thought and care into planning the addition. From adding a fire pit to built-in benches, be creative about what to include. Even small things like adding appealing planters or lighting fixtures can make a difference.

It isn’t always easy to know which renovations will pay off. That’s why it’s important to spend time researching and planning, and these 5 ideas are a good place to start. Looking for a renovation loan? Contact us today, and we can help walk you through a convenient financing process.