Being a homeowner has its advantages, but it also comes along with a lot of responsibilities. Paying bills, maintaining the property, and adding value to a home are all tasks that fall onto a homeowner at some time or another. While home renovations aren’t mandatory, they make living in your home more enjoyable and ultimately add value, making your home easier to sell in the future. Typically, the home improvement projects that add the most value come with a hefty price tag.
Learn more about the most expensive, but most rewarding, home improvements that you can expect to face as a homeowner.
- Repairing roofing damage. If your roof is old or leaking, you could spend a minimal amount on repairs, but you will eventually have to replace the roof entirely. A new roof will probably set you back anywhere from at least several thousand dollars to $25,000, but it’s definitely not a renovation that you want to ignore since a damaged roof can leave your house vulnerable. This repair is expensive, but it adds a ton of value to your home.
- Upgrading your bathroom. Whether you run into plumbing problems or simply want to update the look of the 1970’s tiling in your bathroom, it’s a home improvement project that’s difficult to avoid. The final cost of a bathroom renovation ultimately depends on the size of the bathroom and whether or not it’s a half bath or full, but a major bathroom remodel of any size can be extremely costly. A half bathroom may run for about a few thousand dollars, a full bath can cost close to $20,000 or more. Like roofing upgrades, bathroom updates ultimately add value to your home and can help boost resale value in the future.
- Remodeling your kitchen. Like many major home improvement projects, the cost of this remodel will depend on the size of your kitchen and what you plan on having replaced. If you do the job yourself you can probably get away with $5,000 for a small kitchen which will cover the cost of new appliances and cabinet repairs. Major renovations for larger kitchens will have you looking at about $20,000 and up.
- Gearing up your garage. Whether you’re installing a new garage door or adding an addition to your home, garages add exponential value to a home. They provide extra storage and increase the overall square footage, making your home more appealing when it goes on the market. If you have a garage already, converting it into a home office, addition, or extension of your basement can also add value. A DIY garage renovation shouldn’t cost you more than $10,000, depending on what you do with it. Transforming the garage into a whole new addition can set you back $40,000 or more, and often requires the help of a professional contractor.
These home improvements may seem costly and intimidating, they can greatly improve your return-on-investment.
If you’re not in the market for a major home upgrade, a simple coat of paint can work wonders. While this may not seem like that much, painting is a simple way to give your home a facelift and still add value without breaking the bank. For more information, contact Humble painters.