From Engineering on March 25, 2011 in Decks and Patios
So, spring is in the air and you’ve caught spring remodeling fever. Great! Remodeling certain features, rooms, or even whole parts of your home not only gives it new life, but also drives its market value up—depending on what’s updated and how extensive the job is.
Also, know that sometimes there are factors beyond your control that drive home values up or down, including the appraiser’s or contractor’s quote and the locale.
Spring remodels that virtually guarantee a great return on investment
Two words: decks and kitchens. Remodeled or new-from-the-ground-up decks and kitchens are two areas where you can expect to recoup the bulk—or even substantially more than—the cost of the investment.
Year after year, decks continue to be one of the hottest types of outdoor remodeling for enjoying the warm weather, hosting backyard parties, and more importantly, for realizing a ROI of 100% or greater.
Take notice of your neighbors’ decks, and imagine a new deck that outshines all of them. The uniqueness, aesthetics, and functionality of it will ultimately determine the amount of return.
Average initials costs are as follows:
- Smaller 10 x 12-footers with average quality materials (southern yellow pine, for instance) will cost around $1,700, not including labor.
- A larger deck (a 20ft x 20ft for this example) with longer-lasting, better-looking materials (like cedar or teak) will run the gamut between $6,000 and $12,000.
Go ahead: create a rough blueprint of your dream deck, be it a veranda, terrace, or even a multi-level affair complete with an ornate pergola or two.
Ask any homeowner which is the central room in their home, as well as which room will likely benefit the most (ROI-wise) from a remodeling job, and nine times out of 10 they’ll say the kitchen.
The reason may be obvious; this is where meals are prepared, families chow down once or twice a day, and sometimes even where the heart of the party or social gathering is. Historically, kitchen remodels fetch upwards of 85-90% return on investment, according to realtors.
Depending on your budget, there is a variety of fun, exciting possibilities here. Popular spring trends in kitchens are currently leaning toward the following:
- Clean lines and simple, yet elegant, themes. Fading from popularity is the highly ornamental, extravagant-looking kitchen (think ‘French country’ or ‘Old World ornamental’, for instance). Why? Creating a functional, no-nonsense, simple-yet-elegant ambiance in the kitchen will generally appeal to a larger range of future buyers.
- Contemporary kitchens that are predominantly white, with splashes of bright colors, are in. Lines in this arrangement are highly vertical and/or horizontal and everything from the cabinets to the lighting fixtures to the fridge are pleasantly, even artistically, proportioned.
- Kitchen bar: no longer is it fashionable to have a bar detached from the kitchen. Yes, both the low- and high-slung bar are making their way BACK to the kitchen after a long hiatus. Now, exactly how long’s it been, again?
Can you think of a spring remodeling project we missed? Share your ideas in the comments!