Smart Home Renovations to Maximize Your ROI
Home renovations, such as adding glass mosaics to your backsplash or updating your bathroom floor plan, give you the chance to incorporate your style as you enhance your living space. But how can you feel comfortable doing so if you're also looking to maximize your return on investment (ROI) when the time comes to sell?
Fortunately, there are ways to combine both strategies when redesigning. All you have to do is decide which room to tackle first. While every project you take on will impact your ROI, the kitchen and bathroom should be your go-to rooms for making back the most when it comes time to sell.
Home Renovations with High ROI
Minor, midrange kitchen remodels have the best single-room ROI, according to a report from Remodeling Magazine. The report found that the average kitchen remodel of this scope will cost a little more than $19,000. If that final price tag sounds neither minor nor midrange to you, consider that the magazine also projects a 79.3 percent ROI, which is higher than most of the other projects they researched.
According to the report, the other home renovations with a high ROI include adding an attic bedroom (77.2 percent), remodeling the basement (72.8 percent), remodeling the bathroom (70 percent), and doing a major kitchen remodel (67.8 percent).
New cabinet fronts, new countertops, and new flooring all fall into the category of a midrange kitchen remodel. In the end, new appliances and a revamped floor plan are needed to be considered to be a "major" remodel. In the bathroom, a midrange remodel involves adding new floors, fixtures, vanities, and mirrors, as well as a tiled shower.
Kitchen Projects That Pay Off at Resale
When renovating your kitchen, some projects will pay off more than others. Two areas you should focus on are the floor and the backsplash. By incorporating tile into these surfaces, you can modernize your space and give your room lots of personality.
Tile should be your first option when choosing what rests underneath your feet. Tile flooring is as luxurious as it is durable, and a longer lifespan for your products equals a higher ROI. When properly installed and maintained, ceramic tile will last for a long time.
With options like the Mirazzi Livigno™ series, you'll be able to pull off a design style that is both bold and worth investing in. Livigno affords your room a primal weathered stone look in two generous sizes (12 by 12 inches or 18 by 18 inches) with accompanying mosaics and bullnose trim tile.
Durability and flexibility aside, health is also a major factor when home buyers make decisions. And with a greater focus on eco-friendly products on the rise, ceramics and their smooth surface, which prohibits the formation of mold and allergens, fit perfectly with an ROI-focused home improvement strategy.
One of the best investments you can make in your kitchen is to add a glass mosaic backsplash. Glass tile continues to be a wildly popular choice for homeowners looking for the perfect combination of natural beauty and sophistication. One of the main benefits of glass mosaic tile is its ability to seemingly change colors depending on how the light hits it. This characteristic makes a glass mosaic backsplash a stunning centerpiece in any kitchen.
Glass is also great for complementing your design style. Its reflective, colorful qualities lend itself to be matched with bold, decorative accents, natural stone borders, or other design elements to perfectly pull your theme together.
Complement your glass backsplash by adding metal to the mix, such as burnished colors like bronze and pewter. Pair a metal-kissed backsplash pattern with your glass mosaics to give your kitchen a unique, effervescent personality.
Which Surfaces to Tile in Your Bathroom
The key to maximizing your budget for home renovations is to find products that are not only beautiful, but also long-lasting. In moisture-prone rooms like the bathroom, making smart product purchase decisions is vital. There are many surfaces in your bathroom that need a tile installation. You'll protect underlying wood that can be damaged by water and humidity.
Another reason tile is so valuable in the bathroom is its versatility. With a variety of styles, colors, finishes, and textures, tile gives you endless ways to add a finishing touch to a space. Here are some other ways to use tile in your bathroom:
- On the Vanity: Glass tile isn't only king in the kitchen. It also makes for a stylish, ROI-savvy addition to your sink area. Add glass mosaic tiles behind your bathroom vanity to make spending time at the sink an absolute joy.
- On the Floor: You'll appreciate the ease of maintenance and cleaning that comes along with ceramic tile—and so will the future owners of your home. Mild soap and water will do the trick in most cases. Tile is the perfect material for heated floors, another hot item on the list of today's home buyers.
- In the Shower: Line the inside and outside of your shower with tile to give yourself an open, streamlined look. Items like shower benches and chair rails comprised of ceramics can serve as functional tools, as well as increasing the style in your bathroom.
Assess Your Situation
Now that you know how and where to spend your home improvement dollars, keep in mind that you're not just flipping a house for pure resale value. You still have to live there!
If you plan on being in your home for the next five to 10 years, you may not be making every decision with ROI in mind, which is OK. The trick is to understand which parts of your remodel should be more ROI focused and which can be pure stylistic choices. You probably won't make back the $2,000 that you're putting into the giant plasma screen in your bathroom, but you may still be content with spending the money because you'll get many great years out of it.
Timeless, durable improvements like ceramic tile floors in the bathroom or quartz countertops in the kitchen are at the top of the list of smart remodeling upgrades. If there is remodeling in your future, keep an eye out for what sells in the real estate market. Staying current on home buyer trends helps you make smart decisions with your home improvement budget, making sure to stretch it and maximize it in all the right places.