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What Remodeling Projects Give the Best Return on Investment?

The Denver Real Estate market continues to be a volatile one as people try to make up their minds about purchasing new homes and properties as some would opt to keep their existing places and move out until rates and terms get better and stable. Staying in the old home is not a totally bad idea as it means that the person is still happy with his household and it also opens a lot of opportunity for renovation and remodeling. A home can be improved on a lot of aspects and anyone who is up for the challenge will surely reap the return of the investment once the project is properly accomplished.


Home remodeling projects are known to add significant value to one’s Denver home. However, note that these projects can cost the homeowner a significant amount of money. On the other hand, it also opens opportunities in the future. The key is how to ensure that the projects made will be worth the effort and investments.


Here are some of the remodeling projects that will add value to the home around the Denver area:


1. Kitchen remodeling. Other people treat the kitchen as the heart of the home, especially for people who have families. Thus, this part of the home deserves an update. There is an estimated recovery of 60% to 120% out of your investment in a kitchen remodel. The important part is to not go overboard with the renovation as it may incur unnecessary costs. The kitchen is supposed to be used, and not to be just a display. By choosing affordable materials such as by simply changing the paint or by updating some of the appliances, the remodel will not cost a fortune and can be considered as a good investment.


2. Bathroom addition. Some homes only have one bathroom, and adding another one has shown significant recoup in terms of amount of investment which can reach 80% to 130%. There are other un-utilized spaces at home which can be converted to a bathroom. The closet or even the space under the stairs an be used as a much more efficient space.


3. Room reinvention. When remodeling a home, there is no need to extend a space or add more square footage. By simply reinventing an existing space, the home owner can save a lot of money while also adding aesthetic appeal to the home. It can be a basement or an attic which can be converted to an additional room. If the homeowner has plans of selling the property in the future, remember that potential buyers prefer versatile rooms that have greater appeal. Buyers also look at the basement if they can be used as second living rooms or game rooms, while attic spaces can also be used as an additional space for the kids and relatives.


4. Addition of energy-efficient windows. Buyers are now more conscious of the energy they consume, thus, energy efficiency is one of their key concerns. By adding energy-efficient windows, the home owner can save up to $500 in a year in terms of heating and cooling costs, thus giving you a recoup of 60% to 90% of your investment.


Check’s list of Denver contractors to get one of these projects started in your home today!