Whether you are a seasoned renovation expert or you just purchased a house that needs some work, it’s impossible to predict what the new big trend will be and how the market will respond to it. Even more important is the value vs. cost factor- something that has the potential to either bite you or increase your home’s value by a landslide. More than halfway into 2018, it’s safe to say that these top 5 remodeling trends will peak any home’s value and end up paying for themselves.
1. Replacing Your Roof
This one is pretty simple- if your roof is at a ripe old age then it’s time to replace it before a disaster happens. If your current roof looks battered, shingles are falling off, or there are any leaks, new roofing is needed. If you are unsure, call a professional to determine how much life it has left. New roofing can be pricey, but what’s more pricey is flooding, water restoration, and a collapsed ceiling. You have many simple or unique roofing options and replacing it gains back 68.8% of the total cost in resale value.
2. Remodel Your Kitchen
We are talking about a small remodeling job here, so don’t worry about breaking the bank. In fact, it only takes a minor remodeling job to raise the value of your home and get a great appraisal. According to statistics, a whopping 89.4% was recouped from an average remodeling price of almost $21,000. Therefore, whatever you decide to do with your kitchen whether you are spending $5,000 or $50,000, you are more than likely to win almost all of that back in value. The top new kitchen trends include smart kitchens, white or grey cabinets, single level kitchen islands, and organized storage.
3. Smart Home Technology
Technology is not going to regress, it’s only going to get more advanced. What was once used mainly for communication is now very pronounced in everyday life- smart home technology. Technology utilized throughout the house is very popular in 2018, and by 2021 statistics say that 60% of homes will have at least one smart device. Examples include refrigerators that notify you when groceries are low, coffee makers that start automatically, lights controlled via smartphone, automatic appliances, security systems, voice control, and motorized shades. With the constant rising desire for home technology, you can expect a heightened home appraisal when you add it to your life. As an added bonus, your life just got way easier!
4. A Bigger Bathroom is Better
For many years now bathrooms have become bigger, better, and much more luxurious. However, you really don’t need to go ‘all out’ to get that extra space. Remodeling companies create space by tearing down walls and the average cost of a small bathroom remodel is around $8,000. This covers a new toilet, bathtub, sink, tiling, extra space, etc. If you are content with the appliances you already have, consider simply installing a more spacious walk-in shower that includes safety features. This alone could increase the value of your home by thousands.
5. Replacing Your Garage Door
A new garage door can seriously change the entire look, functionality, and curb appeal of your house. On top of that, a simple garage door replacement can potentially recoup up to 80% of the door’s original price. The average cost of a new garage door is only $1,749 and the most popular trends include adding transparent windows or a splash of color, black or wooden doors, and updated technology to control your garage door with your phone.
Honorable Mentions
By all means, there is so much you can do to remodel your home and keep up with trends all while boosting appraisal value and letting these upgrades pay for themselves. Here are a few other ideas to add to your checklist, all of which will increase the value of your home rather than losing your hard-earned cash:
- A manufactured stone veneer
- Expanding your deck or adding a deck to your house
- Replacing your front door
- Replacing your siding
- Installing a pool (you can never go wrong with one of these)
- Replacing old windows and adding in new modern ones
- A new kitchen sink (white and stainless steel are out- popping colors are in)
Remember to take these ideas one step at a time, and don’t rush into anything that you might not like later on. After all, it is your home and your empty palette to create something great with.
