In 2024, homeowners are increasingly turning to remodeling projects that enhance their living experience, make their homes more attractive to potential buyers, and provide a solid return on investment (ROI). With the average ROI for common remodeling projects climbing to about 75% nationally, according to the Remodeling 2024 Cost vs. Value Report, strategic home improvements are a smart move. Here’s a look at top renovations to consider, whether you aim to make your home more livable, ready it for sale, or maximize your ROI.
Remodeling Projects to Make a Home More Livable
1. Open Up Your Floor Plan
Modern living often demands open, connected spaces. Knocking down non-structural walls to create an open floor plan can transform your home. Consider combining the kitchen, dining, and living areas to create a spacious, multifunctional space perfect for family gatherings and entertaining.
2. Add Functional Storage
Adequate storage is crucial for a clutter-free home. Custom closets, built-in bookcases, and kitchen pantry expansions can make daily life more organized and enjoyable.
3. Upgrade Bathrooms for Comfort
Bathrooms are personal sanctuaries. Enhancing them with features like rain shower heads, soaking tubs, and heated floors can turn a daily routine into a spa-like experience.
Remodeling Projects to Make Your Home More Sellable
1. Boost Curb Appeal
First impressions matter. Simple improvements like maintaining your lawn, planting flowers, and updating the front door can make a significant difference. According to the 2024 Cost vs. Value Report, projects like replacing your garage door and adding a new deck offer some of the highest returns.
2. Modernize the Kitchen
The kitchen is the heart of the home, and buyers pay attention. Updating your kitchen with new countertops, modern appliances, and a fresh coat of paint can significantly increase your home’s appeal.
3. Luxurious Bathrooms
Buyers love modern, luxurious bathrooms. Upgrades such as double vanities, glass showers, and quality fixtures can make a big impact. Spacious, well-designed bathrooms are high on the list for potential buyers.
Remodeling Projects for Return on Investment
1. Energy-Efficient Upgrades
Energy-efficient homes are more attractive to buyers and can save you money while you live there. Consider installing new windows, adding insulation, or upgrading to a high-efficiency HVAC system. These improvements not only reduce energy bills but also offer a good ROI.
2. Enhance Outdoor Living Spaces
Outdoor living spaces remain a top trend. Adding a deck, patio, or even a simple outdoor kitchen can provide a great ROI. These spaces expand your living area and appeal to buyers looking for a lifestyle upgrade.
3. Finish the Basement
An unfinished basement is a blank canvas with high potential. Turning it into a livable space, whether it’s a family room, home office, or guest suite, can offer an ROI of up to 86%.
Making the Right Choices
With renovations, it’s crucial to choose projects that align with your goals, whether it’s enhancing your day-to-day living, preparing for a future sale, or maximizing your investment. By focusing on these key areas, you can ensure your efforts pay off in multiple ways. Always consult with a local real estate agent or a professional contractor to understand what improvements make the most sense for your home and market.
In conclusion, 2024 is shaping up to be a great year for home renovations. By strategically choosing your projects, you can enjoy a more livable home, make it more attractive to buyers, and achieve a solid return on investment.
