Saving Money on Your Renovation Project

5 Tips for Saving Money on Your Renovation Project

Did you know that home improvements can yield up to a 90% return on investment (ROI)? Achieving that value isn’t so simple though- it’s highly contingent upon selecting the right renovations to enhance your property’s value. With a plethora of remodeling services available, determining which ones will provide a guaranteed return can be challenging. Below we have compiled 5 of the best proven approaches so that you can pursue projects that will bring you the best return.

1. Focus on key areas

Undoubtedly, remodeling a house increases its value—but focusing on the right renovations can significantly increase the value of your home, therefore, your return on investment (ROI). Kitchen and bathroom remodels are often considered to be the most valuable home improvements because they are the rooms that potential buyers typically focus on when evaluating a property. These spaces are used daily and need to be both functional and aesthetically pleasing.

Kitchen Remodeling: According to the 2022 Cost vs. Value Report by Remodeling Magazine, a midrange kitchen remodel had an average return on investment (ROI) of 71%, while a major kitchen remodel had an ROI of 56%. While the exact figures may vary depending on your location and market conditions, kitchen renovations generally provide a high return on investment.

Key kitchen updates that can increase value include:

  • Updating countertops with durable, attractive materials like granite, quartz, or marble
  • Installing modern, energy-efficient appliances
  • Adding or updating a backsplash for visual appeal
  • Refacing or replacing outdated cabinetry
  • Improving lighting, such as installing under-cabinet or pendant lights

Bathroom Remodeling: The 2022 Cost vs. Value Report also indicates that a midrange bathroom remodel gave an average ROI of 58%. Similar to kitchen renovations, the figures may vary based on your location and market conditions.

Key bathroom updates that can increase value include:

  • Upgrading fixtures like faucets, showerheads, and lighting

  • Replacing old vanities with new, modern ones

  • Installing new flooring, such as tile or luxury vinyl

  • Adding or updating a tile surround in the shower or tub area

  • Installing energy-efficient features like low-flow toilets and LED lighting

In addition to kitchen and bathroom remodels, several other renovation projects offer excellent returns. Here are a few  of the most efficient:

  • Siding Replacement: Replacing old, worn siding with new, high-quality siding material (such as fiber cement or vinyl) can improve your home’s appearance and protect it from the elements. The 2022 ROI average for this type of renovation is as much as a whopping 68%.

  • Window Replacement: Upgrading your old windows with new, energy-efficient models can increase your home’s value and save on energy costs. Ranking high again, this type of renovation can provide as much as a 67% ROI.

  • Entry Door Replacement: Replacing your old front door with a new, energy-efficient steel or fiberglass door can greatly improve your home’s curb appeal and energy efficiency. This renovation project can provide up to a 63% ROI.
    Saving Money on Your Renovation Project.

2. Enhance curb appeal

Enhancing your home’s curb appeal is important because it creates a positive first impression, which can significantly influence a potential buyer’s perception of your property. While it can be difficult to quantify the exact impact of curb appeal on a home’s value, several studies and reports have shown that improved curb appeal can lead to higher property values and quicker sales.

Here are 3 ways to improve curb appeal and their potential impacts:

  1. Landscaping: A well-maintained and attractive landscape can add value to your home. According to a study by Virginia Tech, well-landscaped homes have a value 5-12% higher than homes with no landscaping. Additionally, the National Association of Realtors (NAR) reported that landscaping projects can have an ROI of 105%.

  2. Exterior paint: A fresh coat of paint can instantly improve your home’s appearance and protect it from the elements. According to a 2018 report by Zillow, homes with certain paint colors, such as “greige” (a mix of gray and beige), sold for an average of $3,496 more than similar homes with different colors. While color trends may change over time, a well-chosen paint color can have a positive impact on your home’s value.

  3. Updated lighting: Upgrading or adding exterior lighting can make your home more inviting and improve safety. Well-placed lighting can accentuate your home’s architectural features, landscaping, and walkways. While it’s difficult to quantify the exact impact of updated lighting on a home’s value, better-lit homes are generally more attractive to potential buyers.

3. Opt for energy efficient upgrades

While many house hunters love vintage houses, these can’t compete with advanced and modern homes in accessibility, functioning, and security. Modern buyers are increasingly interested in eco-friendly and energy-efficient homes. When considering your home remodel, opt for energy-efficient upgrades such as these 3:

  1. Energy-efficient windows: According to the U.S. Department of Energy, energy-efficient windows can save you up to $501 per year on energy bills, depending on your location and the type of windows being replaced. Energy-efficient windows not only save on energy costs but can also improve your home’s comfort and reduce outside noise. In Florida and other hurricane zones, installing storm impact windows can be even more efficient while preventing damage to the inside of your home, or having to go through the hassle of installing shutters before a storm.

  2. Upgrading insulation: Proper insulation is essential for maintaining a comfortable and energy-efficient home. According to the U.S. Environmental Protection Agency (EPA), homeowners can save an average of 15% on heating and cooling costs by sealing air leaks and adding insulation. While the exact ROI for insulation upgrades can vary depending on factors like the type of insulation used and the local housing market, Remodeling Magazine’s Cost vs. Value Report showed an average ROI of 108% for insulation upgrade projects.

  3. Energy-saving appliances: Energy-efficient appliances not only save money on energy bills but can also be a selling point for potential buyers. A study by the National Association of Home Builders found that 89% of homebuyers considered energy-efficient appliances to be essential or desirable in a home. The presence of modern and energy efficient appliances can make your home more appealing to eco-conscious buyers and contribute to a higher selling price.

4. Create additional living space

It almost goes without saying that adding square footage to your home can significantly increase its value. Typically, this can be achieved by finishing a basement, converting an attic, or simply building an addition. When creating these new spaces, ensure they are versatile and can be used for various purposes, such as a home office, guest room, or entertainment area. The following are some other popular choices for additional square footage or conversions to consider for your property-both inside and out:

  1. Building an ADU (Accessory Dwelling Unit): Adding an ADU, such as a guest house or a in-law suite, can increase your property’s value and provide additional rental income. According to a study by the Terner Center for Housing Innovation at UC Berkeley, ADUs can increase property values by 20% to 30%. The ROI for an ADU can vary depending on the cost of construction, local housing market conditions, and rental rates in your area. ADUs can serve multiple purposes, such as a rental unit, guest house, or multigenerational living space. (Please check your local zoning and building codes before starting to plan an ADU build on your property).

  2. Garage conversion: Converting an existing garage into a living space can be a cost-effective way to add square footage to your home without expanding its footprint. The ROI for a garage conversion varies but can range from 50% to 75%, depending on the quality of the conversion and the local housing market. A converted garage can be used as a home office, gym, playroom, or additional bedroom.

  3. Outdoor living spaces: While not technically adding square footage to your home, creating functional outdoor living spaces, such as a deck or a patio, can expand the usable space of your property and increase its value. The 2021 Cost vs. Value Report indicates that the average ROI for a wood deck addition is 65.8%, while a composite deck addition has an ROI of 63%. Outdoor living spaces can serve various purposes, such as entertainment areas, outdoor dining spaces, or simply as relaxation zones.

5. Keep up with regular home maintenance

Regular maintenance is crucial for preserving and increasing your home’s value, as it ensures that your property remains in good condition and prevents small issues from becoming major problems. A well-maintained home is more attractive to potential buyers, as it indicates that the property has been cared for and is less likely to have hidden issues. While it’s difficult to quantify the exact impact of maintenance on a home’s value, addressing potential problems early can save money in the long run and contribute to a higher selling price.

Some home maintenance tasks that homeowners may forget to keep up with regularly are:

  • Roof maintenance and repairs: A leaky or damaged roof can lead to significant problems, such as water damage, mold, and structural issues. Regularly inspecting your roof, addressing minor issues promptly, and replacing it when necessary can protect your home’s value and prevent costly damage.

  • HVAC maintenance: Ensuring that your heating, ventilation, and air conditioning (HVAC) systems are well-maintained can improve your home’s energy efficiency and indoor air quality. Furthermore, the U.S. Department of Energy states that an efficient HVAC system can save you up to 30% on energy bills.
  • Plumbing maintenance: Addressing plumbing issues, such as leaky faucets or slow-draining sinks, can prevent water damage and mold growth. A well-maintained plumbing system can also save water and reduce utility bills
  • Cosmetic maintenance: Regularly addressing cosmetic issues, such as peeling paint, cracked tiles, or worn-out flooring, can keep your home looking fresh and well-cared-for.
  • Pest control: Regular pest inspections and preventative measures can protect your home from damage caused by termites, rodents, and other pests. By proactively addressing potential pest issues, you can maintain your property’s structural integrity and appeal to potential buyers. Transform your living space and achieve the maximum value on your home renovation project with JMK Contractor’s expertise in saving Money on Your Renovation Project you home.

Maximum Value on Your Home Renovation with JMK Contractor

JMK Contractor boasts a team of highly skilled specialists, each adept at handling various aspects of your home renovation needs. Our comprehensive remodeling services provide a one-stop solution for all your home improvement projects. If you’re looking to enhance your property’s value while keeping renovation expenses in check, look no further than JMK Contractor.

Our top-tier professionals and industry experts possess the know-how to transform your home into a space that potential buyers will find both appealing and irresistible. Our diverse range of home remodeling and renovation services includes:

This list merely scratches the surface of our full scope of work. What truly sets JMK Contractors apart is our complimentary in-home consultation service.  So, contact us today to schedule your FREE consultation and take the first step toward transforming your home.


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Preparing for home remodeling can help ensure that the project is completed smoothly, within budget, and to the homeowner’s satisfaction.

The key steps in preparing for home remodeling include setting a budget, hiring a contractor, selecting materials and finishes, and preparing the home for the construction process.

Rental benefits can make a big difference when it comes to living in gentrified neighborhoods. As more people move into the area, there may be an increase in rental prices due to demand. This could lead to better rental options for those who are already living in these areas, as more people will be looking for places to live. Additionally, more money coming into the area could also mean that landlords may be incentivized to offer better quality housing and amenities.

Furthermore, gentrification can bring about increased access to affordable housing options. This can help current residents who may not otherwise have access to such housing or job opportunities. With increased development in the area comes new businesses and job opportunities that can provide financial stability and employment security for those already living in gentrified neighborhoods. Additionally, this influx of development may also result in improved infrastructure and services which can benefit everyone living in the area.

Gentrification has both positive and negative effects on existing residents depending on their individual situation. In some cases, it may bring about new rental benefits or job opportunities which can have a lasting impact on them economically; however, it can also cause displacement if rent prices become too high for some people to afford. It is important to carefully consider how gentrification affects existing residents before making any decisions regarding its implementation.

To set a budget for home remodeling, you should consider factors such as the scope of the project, the materials and finishes you want to use, and the cost of labor in your area.

When selecting a contractor for home remodeling, you should research potential candidates, check their credentials and references, and interview them to ensure they are a good fit for your project.

The current H2 asks how the city government can better support low-income residents facing displacement. This is an important issue facing cities across the United States and especially in Miami, where gentrification has begun to take place. To ensure that all citizens, regardless of their income level, have access to affordable housing and basic amenities, city governments must invest in policies designed to protect vulnerable populations from displacement.

One way for city governments to support low-income residents is by expanding public housing options. By providing more affordable housing options and other subsidies, low-income residents can remain in their homes without fear of displacement due to increasing rent prices or other neighborhood changes resulting from gentrification. Additionally, the city government could provide legal aid and financial assistance to help low-income families navigate the process of searching for new housing or appealing evictions.

Not only should the city government focus on providing direct support to those affected by displacement, but they should also ensure that broader policies are in place that will help prevent future displacement among low-income residents. This could include programs such as rent control measures or tax incentives for landlords who choose not to raise rents beyond a certain percentage each year. In order for these measures to be effective, however, they must be tailored specifically towards protecting vulnerable populations from displacement due to gentrification and other economic factors. Ultimately, it is up to the city government to create policy initiatives that prioritize affordability and stability within their communities so that all citizens can benefit from a prosperous economy.

It is clear that gentrification has had a tremendous impact on Miami neighborhoods. On the one hand, there are benefits for existing residents in terms of increased access to services and amenities. On the other hand, there is potential for displacement of low-income populations who cannot afford the increased cost of living associated with gentrification. To ensure equitable outcomes, a combination of public policies and private sector investments must be implemented. The city government should look to incentivize affordable housing and create policies that protect vulnerable populations from displacement. Government subsidies should also be considered to help offset rising costs. In addition, private sector investments can help by contributing to programs designed to support affordability and provide better access to essential services like education and healthcare. Ultimately, it is up to all stakeholders – both public and private – to work together in order to ensure a just future for all Miami residents.

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To prepare your home for the remodeling process, you should clear the work area of any furniture or personal belongings, and make any necessary arrangements for your family or pets during the construction process.

Common mistakes to avoid when preparing for home remodeling include failing to set a realistic budget, not researching contractors thoroughly, and not preparing the home adequately for the construction process.

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Saving Money on Your Renovation Project

5 Tips for Saving Money on Your Renovation Project

5 Tips for Saving Money on Your Renovation Project

5 Tips for Saving Money on Your Renovation Project

5 Tips for Saving Money on Your Renovation Project

5 Tips for Saving Money on Your Renovation Project

5 Tips for Saving Money on Your Renovation Project