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