If you watch enough home shows and read popular home remodel blogs, you might get the notion that remodeling your home is a given. Even your neighbors will show off their their own home remodels and enthusiastically pass on their contractor's name to you.
However, home remodeling is not for everyone, every situation, or even for every house. Before you pull up that corner of carpet or start pulling off your old kitchen cabinetry, consider Remodeling's 2020 Cost vs. Value Report. You may be surprised the return on investment for some common home projects.
An updated kitchen can help your house stand out for prospective buyers, which can help you sell faster and for more money. That's great news if you're thinking about selling in the future. But just because your home value goes up doesn't necessarily mean that you will recoup the total cost of remodeling when you sell.
Remodeling your bathroom gives you the opportunity to save some money in the long run when you install energy efficient bathroom products such as toilets and shower heads. Energy efficient items can save you money on the water, heating, and energy bills depending on what products you select.
But when it comes to the bath—a space that needs to be both hyper-functional and serene, practical and, ideally, a little bit luxe—the stakes somehow seem higher. There are a million decisions to be made along the way, from mirror to grout—and the price tag can be surprising.
If you’re an extremely practical person, then the increased resale value a deck brings with it is one of the first things you’ll think about. A deck is a great way to add useable space without spending the premium that comes with adding indoor living space. Another reason that a deck is such a good investment is because it increases living area at a minimal cost per square foot.
While a backyard deck won't always add the same amount of financial value as an indoor addition would, most homebuyers will ultimately pay a premium for outdoor living space when comparing two similar properties.
Installing a new garage door can increase your home's curb appeal and also save energy, but you may be surprised to find that replacing a garage door actually has one of the highest R.O.I.'s of any common home update.