Which Home Improvements Add the Most Value?

General Article

In times when home prices have been falling and accumulation of cash assumes significance, one has to be extremely wise to evaluate each and every penny that one spends on home improvement. It is important to understand that return on investment on home improvement ideas has declined to levels close to 70%. This implies that for every 1 USD, the return that the owner of the house would get be less than 1USD and shall amount to 70 cents. The return on investment varies for each home improvement idea and hence one should carefully choose the home improvement idea based on a favorable return and one’s taste. From amongst the various home improvement ideas, few that have consistently given higher return include Kitchen remodeling, Siding replacement, Adding a wooden deck, Windows replacement, Fitting UPVC windows, Bathroom remodeling, Renovating an attic into a bedroom, Finishing a basement, Addition of a room, Addition of a garage and Addition of an upscale bathroom. The average amount spent on home improvement during the last year has averaged to almost USD 5500. Besides looking for return, people usually like to spend on home improvement ides to make their homes more energy friendly besides making their stay more comfortable and enjoyable.

The home improvement ideas are classified into minor, mid-range and major based on the amount spent on renovation. Minor renovation items would include modifying the flooring, undertaking wall and floor tiling, shower doors, replacing faucets, and fitting new doors and windows.  The mid-range changes would include remaking and remodeling the bathroom and kitchen, fitting a new counter top with sink and getting a new toilet with a new tub surround.

High end home improvement ideas generally appeal to individuals who consider their current home as the one they are likely to live in forever and do not mind investment in ideas which are trendy and make a statement but have lower return associated to them. Decision for investing in high end home improvement ideas are usually taken from the heart to fulfill one’s long cherished dream of enjoying that exclusive lifestyle. Few stunning high end ideas include a gourmet kitchen, a hot tub, building a swimming pool or an outdoor kitchen or fire space.

Fuel efficiency and energy saving measures have always been a favorite choice with people. These ideas are a hit with the people because of the “green” factor associated with these. Simple and cost effective methods to make your home more environmental friendly and energy efficient include fitting UPVC windows and wall insulation. These not only help the environment but also reduce your power bill. People are also like to spend on home improvement ideas which enhance the security of their house. Security measures not only give you that peace of mind but have also good ROI related to them. There are a plenty of financing options available to arrange money for your home improvement needs. The interest rates on loans related to home improvement move in tandem with the home loan rates.