Smart Design with Suzette When a client invites me over for a consultation, one question inevitably comes up, “What renovations should I make to get the best return on investment?” Here is a list of upgrades with percentages attached so you can learn what makes the most sense.
Plan Your Remodel
Give yourself time to live in the home. Make a list of updates you need to make and how long you will live in the home. If you are planning on selling in the future, talk with a realtor and/or designer about a selling plan. Determine the cost of updates, including time and money.
Kitchen remodel for a Los Alamos client. Courtesy/Suzette FoxKitchen Upgrade
I think most everyone knows that a kitchen renovation is the best bet for a good return. A kitchen upgrade nets 75-100 percent recovered upon resale. The trick is to accurately determine the right upgrade for your neighborhood and the value of your home.
Above all think about the layout of your kitchen and the workspace. The work ‘triangle’ of the kitchen should be efficient. The triangle is formed from the cooking area, to the sink, to the refrigerator. Check out cabinets that come from sustainable forests and cabinet boxes that are formaldehyde free.
Bathroom remodel. Courtesy/Suzette FoxMaster Bathroom/Bathrooms
Bathrooms return on investment – 75-100 percent. Again, make sure you don’t overspend. The master bathroom should be first on list to renovate, and then continue on to the other bathrooms.
Interior Painting
For very little money, a simple update with a can of paint can earn 50-100 percent return and boost your homes value. Use low VOC or no VOC paint if at all possible. Your lungs will thank you.
Solar panels. Courtesy/Suzette Fox
Roof
Replacing an old roof will provide 50-80 percent on investment. Think about solar panels. They are coming down in price and depending on the direction your home is facing and surrounding trees, going green is a smart, good for the planet alternative.
Flooring
Installation of hardwood flooring brings a 50-75 percent return on investment. Seek out sustainable products or reclaimed wood floors. Wood floors last a lifetime and are aesthetically pleasing.
Remaining Percentages Recovered Upon Resale
- Replacement of furnace or heating system: 50-80 percent
- Expansion (addition of family room): 50-75 percent
- Doors and windows: 50-75 percent
- Deck: 50-75 percent
- Fireplace (wood or gas): 50-75 percent
- Central air conditioning: 50-75 percent
- Finished basement: 50-75 percent
- Wood fence: 25-50 percent
- Interlocking paving stones on driveway: 25-50 percent
- Landscaping: 25-50 percent
Other Things To Think About
Have an electrician look at the electrical to make sure it is up to code before making any renovations. Also ensure that the plumbing is in good order. Adding attic insulation and caulking around doors adds value and keeps monthly costs down.
Regardless of what renovations you begin, always remember to tackle one room at a time to keep projects achievable. Don’t stress out about your renovations, it all takes time. Above all, keep your house filled with love and kindness. It is the best return on investment.
My favorite quote about a home: “By wisdom a house is built, by understanding is it made firm; And by knowledge are its rooms filled with every precious and pleasing possession.”
Feel free to contact Los Alamos Interior Designer Suzette Fox to suggest specific design topics or for help with your home. For more information, find her on Facebook at facebook.com/SuzetteFoxInteriorDesign and on her website www.suzettefoxinteriors.com.