As many people hunker down in their homes with a 3% interest rate, they are looking around at what can be updated and improved. Since many homeowners plan on remaining in their homes. According to the “2023 U.S. Houzz & Home Study” many people are planning on remaining in their home for years to come, and they are updating and renovating.
The majority of homeowners who responded to our survey remodeled or decorated their home in 2022, and plan to remain in their home for 11 years or more following the renovation. More than half also are planning home projects in the coming year.
These home renovations and remodels are focused on a few things. First, people are remodeling because they know they are staying put and they want to enjoy their updated space. Second, they want to improve the value of their home for when they do finally sell. And some people are focused on improving their home’s energy efficiency with improved insulation or solar panels as electricity and heating rates skyrocket.
Just last week, there was a local community chat on the Pine Grove/Tremont Info Center about the rising cost of electricity.
How Should You Remodel Your Home For The Best ROI?
So you are probably wondering what you should remodel? The kitchen or bathroom? Or are there other better options?
Before you consider the highest return on investment for your home remodel. You should first consider what you want. If you are like the majority of people planning on doing a home remodel and remaining in the home for years to come, remodel what would have the most impact on you and your family.
Now, let’s dive into the highest ROI home remodels and renovations:
1. Bathroom Remodels Have The Best ROI
Bathroom remodels are one of the most affordable and high-impact changes you can make to your home. While they do not have the same high cost as a kitchen remodel, they have a similar impact on your home’s value. We have done many bathroom remodels in Schuylkill County over the past few years for this very reason.
2. Converting Living Space Impacts Your Home’s Value
If you have an attic or basement that can be converted to a livable space like a bedroom or full area to add to your home, you can increase your home’s value simply by adding bedrooms.
The ROI for renovating and converting an attic or basement varies widely. Some attics have the perfect setup to be quickly converted, while others require large amounts of work and changes. This can be a quick win remodel for some homes while being a massive undertaking for others. Get a free quote to determine if your basement or attic is worth the renovation.
3. Bedroom & General Room Remodel
Updating your bedrooms, windows, and door frames and installing new flooring throughout the house is a great way to make your entire home feel brand new and spread the remodel throughout the rooms of your house. A more general remodel can be a great way to make your home look new throughout it.
4. Kitchen Remodel Has A High Investment But A High ROI
Remodeling your kitchen can be a considerable investment, but the return on that investment is noticeable in the value of your home. You can increase the overall value of your home in one fell swoop with a kitchen remodel. At Jared D. Aungst Construction, we have been renovating and remodeling kitchens in Schuylkill County due to the increased need. Contact us for a free quote.
5. Building Additions & Porch Additions
Adding to your home will always increase its overall value. You will have additional space to enjoy and additional square footage added to your home. If you add a porch to your home, it can take the outside of your home and completely transform it.
We recently rebuilt a porch in Orwigsburg, PA and it updated the entire outside of the home with the custom porch roof we added. Contact us for a new deck or addition to your home.
Contact Jared D. Aungst Construction For Your Home Remodel
We would love to remodel your home and provide excellent construction services to you. We work with residents in Schuylkill County, Berks County, Lebanon County, and surrounding areas. Contact us today!