Should you modernize your outdated kitchen—or install that beautiful, new hardwood flooring? Is it wiser to convert the basement or the attic into an additional living area? Or should you forgo the more glamorous jobs in favor of replacing the boring—but temperamental—heating and cooling system?
Homeowners want to ensure they'll enjoy the finished product—and it will add to the resale value—before undergoing a costly and time-consuming remodel. Hey, waking up to the sound of buzz saws and workers tramping through your home for months on end isn't fun.
Those who are looking for a two-in-one should probably do a full remodel or at least upgrade the kitchen, according to a recent report from the National Association of Realtors®. A sleek kitchen with top-of-the-line appliances is most likely of any interior home improvement project to appeal to buyers and increase the value of a home, according to the report.
"Homeowners were both happy and satisfied with the outcome of their" kitchen renovations, says Brandi Snowden, director of consumer research at NAR. "A kitchen renovation is a great way for new owners to customize their home and incorporate their personal tastes into a room that they will use every day."
The report is based on three surveys. The first is a survey of nearly 2,200 consumers in June and July done by homeownership site HouseLogic. NAR did the second and third surveys. The second survey garnered nearly 400 responses and was conducted in March and June. The third had nearly 2,500 responses and was held in July.
When it comes to kitchens, homeowners who replaced worn-out surfaces and installed new finishes and materials were the happiest of the remodelers. About 93% of those who did complete remodels and 85% of folks who upgraded just the room wanted to spend more time in their home once the work was finished.
But a new kitchen won't come cheap. NAR estimates folks will shell out an estimated $68,000 on a full remodel. But they should expect to recoup only $40,000, or 59%, of their investment. Meanwhile, those who simply upgrade a space spend an estimated $38,300 on the job—and get back only about $20,000, or 52%, in the resale value.
Meanwhile, renovating that other home staple, the bathroom, sets homeowners back an estimated $35,000. Of that they're typically able to recover about 57% of their investment. But those adding a new bathroom to the tune of $60,000 can expect to get only half that amount back.
Master suite renovations were the costliest of the renovations, totaling an estimated $150,000, but still were popular. About two-thirds of homeowners said they enjoyed their home more and had a greater desire to spend more time there after it was finished. But folks can expect to recoup only about half of what they sunk into the project, $75,000, at resale.
And when it comes to the debate over whether to finish an attic or basement, it's cheaper and more profitable to go underground. Converting a basement to a living area cost an estimated $46,900 and upped a home's value by 64%. Attic work was much pricier, at $80,000, and added only a 56% bump.
The most lucrative improvement homeowners can make is putting in a new roof, according to the report. Those who spent an estimated $7,500 on that essential upgrade got back $8,000, or 107%, in resale value.
New wood flooring, which was a bit more exciting, also led to profits. It was estimated to cost about $4,700 but added $5,000 to the price of a home. That's a 103% return. Those who refinished hardwood floors, at the cost of $2,600, broke even.
"While installing new roofing, hardwood flooring, or refinishing hard wood floors are large projects to tackle, we found that these were the top projects for recovering costs," says Snowden, who adds that they're durable and long-lasting.
Homeowners shouldn't overlook the smaller, cheaper jobs either.
Upgrading a home's insulation cost only an estimated $2,400. But homeowners were able to recoup about $2,000, or 83%, of what they laid out. Meanwhile, installing a new garage door cost an estimated $2,100—of which the homeowners got back about 95% in a sale.
"Homeowners are able to recoup the majority of the project cost, create a more comfortable interior living space," says Snowden. And it "improves the energy efficiency of their home."
For more info and pics, Text "7195325" to 79564 (Message and Data rates may apply) Gorgeous colonial in Connecticut Gardens neighborhood. Great location, 15 minutes from Walter Reed National Medical Center, NIH, metro & shopping as well as a short distance to the bus stop.Gorgeous colonial in Connecticut Gardens neighborhood. The open entry level and main floor flows with hardwood floors, connecting the family room area with the fireplace and eat-in kitchen. The spacious, main-level bedroom comes completed with a full bathroom and separate entrance with access to the deck. Head upstairs to find the master bedroom, walk-in closet, skylight with its master bathroom. The finished basement boasts of a rec room with a theater system, wet bar, laundry room, and an additional bedroom. The backyard is an entertainers delight with plenty of shade, privacy, hot tub and attached 2 car garage. Don't miss your opportunity to own this amazing home in Montgomery County. All new windows have been installed throughout.
Here are common sense ways to declutter and organize your fridge. Leftovers gobbling up space in your refrigerator? Here are some tips for keeping things organized, efficient, and tasty. A well-organized refrigerator keeps food fresh longer and lets you grab and go faster. Before you unpack groceries, spend a second thinking about the right place for everything.
(Family Features) From dark and moody to vibrant and bold, colorful design is gaining favor among homeowners ditching safe, neutral palettes to create more daring, dramatic spaces.
Decorating with deeply saturated colors can be intimidating. Explore these ideas to welcome more bold colors into your home and create inviting spaces for living and entertaining.
Walls of color
Say goodbye to beige and embrace the bold color trend by enhancing walls with hues that make a statement. The trick is to avoid making colors so loud that the space loses its stylish appeal. Bold doesn’t necessarily mean bright, so look for muted variations of the shades you prefer. Also remember that when it comes to design, there is such a thing as too much. If painting all the walls in a space will close it in or make it feel lost in the dark, try adding color in more subtle ways, such as an accent wall (or two), or painting the ceiling as your accent. Another option for implementing vibrant wall color: stick to smaller rooms, where the bold look is less likely to be overwhelming.
Illuminate color with natural light
When decorating with statement colors, remember that lighting can make a significant difference in the overall aesthetic. In addition to lighting fixtures, be sure to incorporate plenty of natural light to bring out the best in those bold hues.
To bring natural light deeper into the space, consider skylights as an option with a solution such as Velux No Leak Solar Powered Fresh Air Skylights, which can bathe the space in natural light and open to bring in fresh air. Another smart way to capture natural light is by installing an option like Sun Tunnel skylights. With their low-profile design, they create a sleek appearance, and installation is also quick and easy. Learn more at whyskylights.com.
An often overlooked but essential component of design is the furniture. Creating a colorful, inviting room doesn’t stop with the walls and floors; what’s in the room can bring the colors to life. Think of the space and all its contents, not just the architectural components, as your canvas for creating the space you envision. If you’re hesitant to invest in a pricy couch in a trendy hue, a compromise might come in the form of a richly colored accent table or chair.
Traditional wood grain cabinetry sometimes gives way to far more creative color schemes in kitchens and bathrooms. While white is still a popular choice, and can even be considered bold in the right setting, true color on cabinets is also gaining traction among homeowners. With the right backsplash, countertops and flooring, you can safely install cabinets in a uniform color throughout the kitchen, but another on-trend option is to reserve the color for an island base or just one wall of cabinets. You could even mix and match colors on the tops and bottoms. Detail elements like the hardware provide another opportunity for a bold look. You can enhance the room’s design with standout pulls that lend extra vibrance to the space.
Fabric with flair
Textiles provide nearly unlimited options to balance a bold design. Using lighter fabrics for elements such as draperies, upholstery, rugs and decorative pillows can soften the feel of a room with bold tones. Look for subtle patterns that pull in hints of the deeper hue to bring the look together, or simply coordinate shades from complementary color families.
Unexpected Pops of Color
Designers often talk about adding pops of color to bring together a palette, but there are no real rules about where those color enhancements can or should be. Introducing vibrant color in unexpected places can be an especially impactful way to stylize a room.
One example is with a skylight blind, which provides a decorative element while also allowing for light control. If you prefer a trendy option like combining dark colors with metallic accents, consider options such as a metallic gold skylight blind from Velux to connect to the room decor below. More than 80 color and pattern choices heighten the drama of a skylight blind, and you can choose from features like room darkening, light filtering and Venetian-style blinds to add function as well.
Ever wish you could become one of those rare morning people? The ones that wake with a start, feeling refreshed and energized. The ones that get in that morning workout or wrap up some work before many of us even hit the snooze button for the first time. Here are five tips to help you achieve that early bird status!
Anna Reed, Realtor