Winter Home Renovations That Will Increase ROI in Queens, NY
When you are planning your next home improvement project, it is more important than ever to know what kinds of improvements raise the value of a property. Due to the public health crisis we’ve been going through, our homes were at the center of a lot of changes and reevaluations.
For example, the home office and new outdoor area were popular in 2022. Here are some home improvements that increase value, which will help you sell your home quickly in Queens, NY.
1. Open the Floor Plan
Taking away the correct wall can produce the open layout many purchasers demand. According to the NAHB, 85% of homebuyers prefer an open floor plan connecting the kitchen and dining area, 79% prefer one connecting the family room and kitchen, and 70% prefer one connecting the family room and dining area.
Even if an open concept brings in natural light, you should consult a contractor or designer before taking things apart. Your home needs room limits. This adjustment doesn’t work for two-story or Colonial homes.
2. Choose Affordable Renovations over Luxury Upgrades
Remodeling Magazine’s 2022 Cost vs. Value report says that trying to replace cabinet doors, install granite countertops, and install top-of-the-line appliances in a 200-square-foot kitchen costs about $26,200 but brings back about $18,900 when the house is sold. That’s a return on investment of about 71%, compared to getting back about 56% of the costs of a major kitchen remodel.
When it comes to the bathroom, don’t get heated towel racks, heated floors, frameless glass enclosures, or fixtures that spray water on your body. Fixtures and floors made of ceramic tile will do the trick.
3. Change the Flooring
Any real estate agent in Queens, NY, will tell you that spending thousands of dollars to change the flooring is money well spent when you have pets or if it has seen better days. The average cost to refinish hardwood floors is $1,799, or between $3 and $8 per square foot. (If you’re interested, professional carpet cleaning costs between $75 and $125 a room, by the way.)
4. Paint a Neutral Color
Do you think paint could improve any room? Of course it can! Another common home renovation project people do during the winter months, especially in colder climates, is painting the interior. If you’re confined indoors because of bad weather, spending $30 on a gallon of paint can have immediate and long-term benefits. Neutral hues are best for painting, as they allow buyers to create a mental image of themselves in the space.
5. Install Energy-Efficient Appliances
In the NAHB study, more than 90% of home buyers said that appliances, windows, and lights with the Energy Star symbol, which saves energy without sacrificing performance, were either necessary or something they would like to have. Consider ENERGY STAR-certified dryers, washers, dishwashers, and refrigerators.
Whether you want to sell your home right now or sometime in the future, you can bet that these home renovations will increase resale value no matter when you list!