Do you want to make your home more comfortable? Keep in mind that all home improvements do not pay off. Several home improvements don't add any value to your home, particularly during a down market.
According to a survey conducted by 'Remodeling' magazine, the average return on popular remodeling projects in the United States in the year 2020 came down to 66.5% from 68.6% in the year 2019.
So, the key is to know which upgrades will actually pay off in the year 2021. Here in this post, we will discuss five most valuable home improvements in 2021. Read on.
1. Update Your Kitchen
Most homebuyers consider the kitchen to be the heart of a single-family home or apartment. So, updates to the kitchen ensure a high return on investment.
You can hope to recoup 60% - 120% of the money spent on a kitchen remodeling project. Just make sure you don't go overboard.
Consider the overall structure and design of your house as well as the neighborhood. Your kitchen doesn't have to be fancier than your living room, bedroom, or attic.
For a higher resale value in 2021, your kitchen updates should focus on upgrading the wall paint, layout, cabinets, countertops, fixtures, lighting, and appliances.
When remodeling your kitchen, remember to start small in the beginning.
You can, for instance, upgrade old counters first. You can choose anything from granite, engineered quartz, marble, and quartzite to wood, laminate, soapstone, glass, and limestone depending upon your budget and the overall kitchen décor.
Next, you can replace kitchen faucets, repaint the kitchen walls, alter the layout, add a new cabinet, create a focal point, and replace old light fixtures with more energy-efficient options.
2. Update Your Bathroom
Even if you opt for low-cost bathroom updates in 2021, you may still recoup over 50% of the cost. You can, for instance:
- Brighten your bathroom with a new coat of paint
- Replace a dated light fixture
- Re-grout the bathtub
- Hang a stylish bathroom mirror
- Update the plumbing fixtures
- Upgrade the countertops
- Enhance storage
- Replace the glass on the windows
- Replace the shower curtains
Often, even minor upgrades can transform the look of a bathroom.
Make sure to have a plan before you start remodeling your bathroom. This is especially important if you want to continue making small updates over the next one or two years.
Hiring a professional bathroom remodeling company might seem like a pricey option for someone looking to upgrade their bathroom on a budget but it's worth the cost.
3. Add a Wooden Deck
You can create a new space for your barbecue, plants, or patio set by simply adding a wooden deck. The extra space can also be used to entertain your guests.
Addition of a deck is one of the best ways to add livable space and improve yard aesthetics. The good news is that decks are low-maintenance.
For many homebuyers, outdoor living spaces, whether covered or uncovered, are highly desirable. So, the addition of a deck helps increase the value of your home.
According to HGTV, homeowners can recoup nearly 60% - 90% of the money spent on building a deck.
4. Energy-Efficient Home Improvements
According to the United States Department of Energy, 43% of a home utility bill in the country typically goes towards running the heating & cooling system. By making energy-efficient home improvements such as air sealing and installation of appropriate sealing, it is possible to cut your daily energy consumption for heating & cooling by 20% - 50%.
Updating your dwelling to save energy doesn't have to cost a fortune.
Even addition of an extra layer of insulation to your attic for just around $100 - $200 can save you more money within a year in the form of savings on your utility bills.
To make your home more energy-efficient, you can install new doors & windows (or properly seal the current ones), enhance air conditioning by improving air circulation with ceiling fans, install programmable thermostat, switch to LED lights, replace old appliances, and consider using renewable energy.
In many cities, states, and countries around the world, you can avail of government subsidies when you carry out home improvements for energy-efficiency.
5. Replace Your Garage Door
A new garage door won't come cheap but it will most likely pay for itself if you reuse the old motorized opener.
According to home improvement experts, you can recoup almost 98% of the investment on a new garage door.
The best garage doors available in 2021 are made from durable materials such as steel, aluminum, wood composites, fiberglass, vinyl, etc. Modern-day garage doors have various useful additions such as insulation, style consistency, wind resistance, energy-saving glazing, etc.