Best Bang For Your Buck Home Improvements

Be it a new backyard patio or a subtle bathroom makeover, such changes can bring twice as much money as they cost to make. Not all home improvements give homeowners their money back. Also, not all upgrades increase home value.

Choosing the right home improvement can take time, but once completed it can raise a home’s market value by as much as $30,000. In this article, we list six home improvements that cost less than $10,000 to make and which return at least 100 percent.

A Backyard Oasis

ROI: Up to 200%

A backyard retreat is a powerful addition that can help homeowners significantly raise the value of their properties. However, they must make sure that their backyard patio offers shade from the sun and protection from mosquitoes and other insects. There is a wide range of screened canopies people can choose from, most of which are quite affordable. Also, they do not require significant maintenance.

In general, screened canopies, also known as gazebos, can be installed whenever there is a flat surface. Their price ranges from $200 to $500, depending on size, and can be installed in just a few hours.

Homeowners can either choose to install the canopy above the grass, which can wear out fast, or build a paver patio for the floor. Building a brick or concrete paver can bring the highest return on investment, as it looks much better and is more durable. Also, they can be built in many colors and shapes. Savvy homeowners can also save money by installing the paver themselves.

An attractive backyard oasis can add as much as $15,000 to a home’s sale value. Between $5,000 to $7,000 is spent on materials, renting heavy plate compactors and other expenses. This means that homeowners can get as much as 200 percent back.

Deck Addition

ROI: Up to 150%

Increasing the amount of usable space in a home is one potential way of raising its market value. A new deck accomplishes this purpose while also creating more ways to enjoy the house’s outdoor areas.

According to HomeAdvisor, a beautiful outdoor deck has been ranking high on most homebuyers’ wish lists. Also, a new deck can be the solution when the house already has a backyard patio and there is no way to expand it.

Building a new deck can cost as much as $7,000. Choosing exotic hardwood can increase the cost even further. However, whichever material is chosen, a comprehensive mock-up should be done beforehand to make sure the new deck has the right balance of sunlight and shade.

According to HomeAdvisor, a well-made, good-looking deck can increase a home’s market value by as much as $15,000. Homeowners who cut on costs as much as possible can achieve a return on investment as high as 150 percent. However, how much value is added to the house will depend on location and other features such as what is placed on the newly-built deck.

Bathroom Makeover with Granite

ROI: Up to 130%

Some families enjoy the simplicity and elegance of natural stone in their houses. When thinking about doing a small makeover to their bathrooms, a new granite vanity top is a good way to change its look while keeping costs affordable. Granite tops are available in a wide array of colors and can be purchased at many places, including Home Depot.

In general, the price of a granite top goes from $150 to $500, depending on size and quality. Families can also complement the purchase with a new faucet and mirror. In some cases, they can find promotions and bundles that already include such accessories.

Bathroom makeovers have one of the best returns on investment rates at the moment. Smart households can get as much as 30 percent over their original investment when selling the home. However, to obtain this much money back, homeowners might have to search for the best prices.

Replacing old bathroom accessories

ROI: Up to 130%

According to HomeAdvisor, homebuyers are willing to pay a premium for houses with bathrooms that contain trendy accessories and features. This includes vessel sinks, electronic faucets, double showers and vertical spas.

Although it may not always make sense to follow such trends, homeowners can pay attention to which improvements are worth the investment. This is particularly important if they are thinking about selling.

Bathroom accessories comes in different sizes and prices. A basic makeover, which only replaces towel bars, lighting, and paint, can cost up to $200. In contrast, replacing the sink or the shower can raise the cost above $1,000. However, the return on investment can make it worth the trouble.

Spending $1,500 in a light remodel can add as much as $5,000 to a home’s market value. However, homeowners should make sure to maintain a consistent style and purchase accessories that match those which will not be replaced.

Adding a new bathroom

ROI: Up to 130%

HomeAdvisor also reports that young homebuyers are especially interested in homes with at least two bathrooms. As a result, adding a new bathroom to a home may be a good way to raise its price and make it more attractive.

Most homeowners see a new bathroom addition as an expensive home improvement. However, the new bathroom does not have to be as large as the main bathroom, or include a bath. In general, what homebuyers are looking for is a smaller, secondary bathroom that can be used by visitors. Also, it can also be closer to the living room or backyard, making it easier to access if the main bathroom is located in the second floor.

Adding a new bathroom is considerably more complicated than building a new patio. Homeowners must carefully consider the layout, location and potential cost of such an investment. A small secondary bathroom can be constructed for $5,000. However, it is not unusual for homeowners to spend as much as $12,000 on such a project. How much is spent often depends on whether the new bathroom is built on an existing space.

On average, new bathrooms can have a return on investment of up to 130 percent. However, this will depend heavily on where the house is located and how much is spent building the new bathroom.

Bathroom remodel

ROI: Up to 115%

Building a new bathroom requires a significant amount of money. Homeowners who lack the cash or space to do so can instead focus on remodeling an existing bathroom. A low to mid range bathroom remodel can cost less than $5,000, and may only require adding a new coat of paint and replacing some items like the sink.

Homeowners who choose to remodel must first focus on the vanity. A modern-looking vanity can significantly change the look of a bathroom. A 30-inch vanity with a marble top can be purchased at Home Depot for less than $300. Those who prefer the 60-inch version can purchase it for around $1,100. As mentioned above, replacing accessories can add up to another $1,000 to $1,500.

How much money can be recouped after selling the home will vary. Some accessories are expensive and do not yield the same return on investment than more affordable alternatives. To get their money back, homeowners should look for a balance between visuals and price.