Landlords and homeowners spent a huge amount of money this past year on home improvements, and for good reason. Keeping your real estate investment in good shape is just smart business – whether you are living in your investment or planning to sell or rent it out.
It may be tempting to point to the house-flipping fever that is fanned by television celebrities. The real reason is actually a by-product of the large number of older and aging homes in this country. This stock of aging homes is a great thing for the remodeling industry, with almost half of American homes being more than 50 years old.
What are America’s favorite renovations? Well, instead of flashy overhauls, these are minor improvements that will have the biggest positive impact, with a bit of ROI thrown in.
A few of the most common home renovation projects are:
- Ceilings and Floors. The average cost for these renovations will cost the homeowner around $3500. With unmatched vibe-changing power, they are the most common renovation projects.
- Sinks, etc. Many homeowners will opt for replacing dated fixtures in their bath areas instead of doing a more expensive bathroom renovation. They can achieve a whole new look this way for under $1500 in most cases.
- Home Appliances. Another common home renovation project is the installation of a new garbage disposal or built-in dishwasher – the goal is to save time and add convenience, both of which are high on the list of desirable outcomes when it comes to home improvement.
- Windows and Doors. Replacing these items are always popular. In addition to adding a fresh visual appeal, they can add energy savings to their benefits, as well as recouping approximately 75% of their initial cost upon the sale of the home.
- Roofing. Due to cost and complexity, replacing roofing is not one of the most pleasant processes. But, it is also unavoidable as your home ages, so it belongs on this list of the most common home renovation projects.
When it comes to home improvements and home renovation projects, our team here at Ascension General Contractors is here to help. We have the expertise and experience you need to get your home projects completed on time.
