Every year, many homeowners across the United States follow through on some type of home improvement project. From wooden decks to kitchen remodels, room additions and more, you name it, homeowners have done it. Improving your home can be a smart move to increase your property value, but be sure you’re making improvements that are beneficial. However, it’s important to keep in mind that not all home additions and improvements offer the same level of return on investment.
Let’s find out what contractors have to say about certain home improvement projects. Here’s a look at some of the best and worst decisions for home remodeling in Santa Fe, NM.
The best projects
Looking to add some serious value to your home and potentially attract a buyer? Here are three projects to consider:
- Wooden deck: Topping the list of the best home additions out there are wooden decks. Wooden decks have the greatest return on investment, costing an average of around $10,000 to build with an incredible ROI of over 87 percent.
- Attic living space: Many homes have a ton of usable space up in the attic. Remodeling the attic into a usable 15” x 15” bedroom with a finished ceiling, floor, walls, plumbing and electricity, plus a bathroom area, can yield an ROI of 84 percent.
- Siding replacement: Your home’s siding may need to be replaced at some point depending on the type of building material used. Though an easier home improvement project than building an additional bedroom, replacing the siding is one of the best decisions homeowners can make. A complete siding remodel can be expensive, but when done right, it can boast an ROI of 87 percent.
The worst projects
On the other end of the spectrum are projects that don’t provide the kinds of returns most homeowners would hope for. You may be surprised by these:
- Sunroom addition: Having a patio off the back of your house can be convenient, and a wonderful spot for entertaining. You may want to build a patio cover that attaches to the house or even turn the space into a sunroom, but the cost may cause you to change your mind. On average, a high-quality sunroom can cost more than $73,000 and only give an ROI of 51 percent.
- Home office: Remodeling a room for a home office is one of the worst projects you can invest in. It can be considered a waste of money due to the fact that any existing room in your house can be turned into an office space. ROI is under 50 percent.
- Master suite: With its own bathroom and sizable closet, the master suite is typically the largest bedroom in the house. The cost of building a master suite addition can reach six figures, but only provide an ROI of 56 percent.
If you would like to learn more about home remodeling in Santa Fe, NM, don’t hesitate to contact the building experts at Apple Construction LLC. Get in touch with us today to learn more about how we can help you with an addition or remodeling project!
Categorised in: Remodeling