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Every homeowner has different motivations for renovations or home improvement projects, but regardless of those motives, there is one thing that supersedes all passions – returns on investment. When you are pouring your passion, energy, and money into upgrading your home, it is innate that you expect the value of your property to increase alongside it.
That is entirely understandable and reasonable because, in Houston, Texas, there is always pressured to keep up with the evolving times, trends, and modern aesthetics. Whether that is developing modern kitchens, updated closets, or upgrades to your entire place – you want to know how this will increase the value of your home.
Remodeling is a chance for homeowners to express their inner creativity, extend their personality, upgrade their conditions for living and quality of life, and inevitably increase their return on investment.
These all seem incredibly beneficial, but when you look closer at your personal needs, vision, and what you can receive in return when making these decisions around property investment – not all projects are alike or equal. Working with a professional and qualified remodeling contractor or Texas design firm will assist you in making choices around your home improvement wants, needs, and what will pay off in the long run!
Remodeling Modern Kitchens & Luxury Bathrooms
What Texan doesn’t want to upgrade their kitchen space? Kitchens are the heartbeat of every Southern home, as they are a space meant to create, collect and preserve memories. To most residents’ joy, the kitchen and/or bathroom renovations are the best investment you can make – seeing up to an 85% return on your investment, and the improvements you make will all increase your comfort and joy while living in the home.
Contemporary kitchen renovations or bathroom remodeling projects will help create a more beautiful and functional living. This is what making upgrades is all about; home equity is just a bonus! These are two of the most used spaces in the home, and when the housing market is at its highest, you can see a return of 90-100%. The thing about kitchen or bathroom remodeling is that ROI changes and can actually be a more short-term investment overall.
Finally, Finishing that Basement
Home buyers typically look for a fully finished home, including the basement. If you have been procrastinating and wondering whether or not you should start remodeling necessary to complete your space – it will undoubtedly be worth what you put into the space. There are fewer basements in Texas, so this simply isn’t as relevant as it would be in other places across the country.
While it is not common, some basement spaces in the state are typically used as unfinished spaces for storage or other necessities. Finishing your basement will provide a return on investment of about 60 to 70%. This is almost as good as upgrading your kitchen or bathrooms, and it creates additional accessible space in the home, creating more function and joy for the house!
Upgrading Your Home’s Curb Appeal & Exterior Aesthetics
Interior design and general home upgrades are not the only way to increase the value of your property – the exterior is equally as important as what is inside. This may need to be in line with your local HOA, but your house’s curb appeal is meant to suit the neighborhood vibes while still standing out within the crowd of your community. The outside of your home is the first thing people see, providing the initial impression to home buyers.
Making exterior upgrades will inevitably create a more beautiful experience for your household, neighbors, and prospective buyers. You can create more windows and upgrade your roofing, exterior paint, siding, landscape, etc. This will show a return on investment of about $70 to 80%, and everyone can see the results. Investing in appearance and outdoor aesthetics is meant to create a more peaceful, pretty, and prestigious environment for homeowners and buyers alike – and that kind of investment can clearly pay off.
An Additional Project, New Bedroom, or Bathroom
There are plenty of other home improvement projects you can approach as a homeowner in Texas besides the typical kitchen, bathroom, closet, etc. One of the best ways to create long-term home equity is by creating or upgrading bedrooms and bathrooms. We covered renovating bathrooms earlier, but this is adding a half bath downstairs or one to an existing bedroom. This can create function and comfort for those living in the home and manifest interest in buyers.
Creating a new bedroom means inquiring about permits and ensuring there is a way to transform the current home and make the most of the square footage – it makes sense to work with professional remodeling contractors or design firms in Texas when undergoing this kind of renovation project.
These kinds of improvements are an ideal investment for what you need and what you want out of that investment. The ROI on an additional bedroom or bathroom comes in at 75 to 85%, but it maintains its value longer than more short-term improvements or renovations.
Pools, Decks, Patios & Landscaping Projects
In Texas, having a pool and outdoor space to spend time with family, friends and loved ones is nearly necessary for Spring and Summer. The heat and humidity can get to residents, and pools are a great way to keep cool and have fun. While pools, decks, and patios are all lovely – they don’t produce the kind of return you may want.
If you are in a luxury or high-end neighborhood, things like this are expected; therefore, the ROI is higher. Still, when living in a median or lower-income area, you will see a much lower return for your home equity. Things that add simple aesthetics without adding any kind of functionality or square footage – there will not be a return.
Sometimes these additional amenities will add to the overall enjoyment of the property, but they may be an investment in your quality of life and nothing else. If this is something that you wish to use for your family and household, it may be worth the investment, after all.
No matter what you plan on renovating, there is a general rule of thumb to live by – when entering any property upgrade, you must ensure that you are working with a licensed contractor or remodeling company. This will support you throughout the process and ensure you make the soundest investments possible while creating a home you can thoroughly enjoy with your family.
Baczewski Luxury is an elite, licensed remodeling company in Houston, Texas, contracting and designing homes throughout the South and nationwide. Baczewski provides superior guidance and custom design for whatever you may want to dive into in terms of contemporary remodeling and design. Home remodeling is very personal, so when surveying your options and household needs, make the upgrades that will benefit you the most!
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