With rising home prices that boost home equity, many homeowners are opting to remodel rather than move. But any savvy homeowner knows that renovations without an eye on return on investment isn’t a smart move. So stick with remodeling projects that will really increase the value of your home. Here’s five home-design trends.
An open floor plan. Forty-six percent of today’s buyers, regardless of generation, want an open floor plan, according to Truila. You don’t have to add space to get the open concept going through. Call a contractor to see how your existing floor plan can be opened up.
Update the bathroom. The National Association of Home Builders (NAHB) says this is the most popular trend, and the ROI is up to 58 percent.* Strong design trends include a walk-in shower and bigger tiles on the walls and floors.
More purposeful kitchen storage. The NAHB says that this is the second most popular renovation project of the year. Think more and deeper drawer banks, and adding a kitchen island and pantries. The ROI is about 67 percent.
Specialize a room or area. Entryways are transformed into mudrooms and basements are being converted into man caves or playrooms. Even a sunny niche can be turned into a useful reading nook.
Embrace hardwood flooring. Homebuyers definitely want hardwood and they’ll pay for it. The ROI for new hardwood flooring is more than 90 percent, and it’s 100 percent for refinishing existing wood floors.
*All ROI figures from the 2015 Remodeling Impact Report
Source: CRS newsletter