Types of Remodels that Provide the Best ROI
August 26, 2021
In a post-pandemic world where we spend a lot more time at home, the rise in home renovation is greater than ever. From working remotely to homeschooling the kids, there are a lot more incentives to tackling a new home improvement project. While it might seem overwhelming to know where to begin, a good starting point is finding out what types of remodels will provide you with the best return on your investment.
Luckily, smart technology and modern home renovation apps like iScape come to revolutionize the power of visual thinking and how easy it is to work with a professional. Rated one of the top 3 best paid home renovation apps on the App store, with a 4.6 rating and costing $29.99 a month or $299 per year, iScape helps you plan out your dream job, while also showing you how you can save on materials and gives you the option of working directly with someone from our team of professionals.
Types of remodels that provide the best ROI
Between changing kitchen cabinets and adding in new bathroom tiles, it can be difficult to know where to start with so many options of what to do when renovating your home. Luckily, we break it down for you. Below is a list of the top 3 types of remodels that add real value to your house, according to HGTV.
- Kitchen remodels
Bringing in an estimated 98.5% in ROI, first up is the kitchen. Noted as one of the most expensive parts of the house to remodel, it is also one of the most used common areas.
Examples of what you can consider remodeling in your kitchen include repainting the walls, upgrading the floors or tiles, changing out the kitchen countertops, changing out the kitchen countertops, repainting or replacing the kitchen cabinets, adding in more cabinets, and upgrading the electrical appliances.
Tech to take on in the kitchen:
- Smart garbage cans
- Countertop projectors
- Digital or LED backsplash
- Bathroom remodels
Garnering a stammering 102% in ROI, this is probably a good place to start your home improvement project. Bathroom remodels are reported to sit in the medium tier of average remodeling costs per area of the house.
Examples of what you can consider remodeling in your bathroom include upgrading the floors and walls with tiles or fresh paint, changing out the sink countertops, adding in new shower heads, and installing new toilets.
Tech to tackle in the bathroom:
- Smart toilets
- Chromatherapy lights
- LED mirrors with interactive features
- Bedroom remodels
Adding on about a 52% ROI, bedroom remodels are considered to be one of the least expensive home improvement spaces to work on. So if your desire is to start with a lower investment, then this might be a good option.
Examples of what you can consider remodeling in your bedroom include redoing the windows, switching out the flooring, updating any light fixtures, and upgrading the closet doors and shelves.
Tech to improve your bedroom:
- Motion-sensored bed lighting
- Voice control blinds
- Smart plugs
DIY projects and your home insurance
Ultimately, your home’s improvement will not only improve your quality of living, but could lead to its appreciation in value. When that happens, you want to make sure your homeowner’s insurance covers your newly upgraded spaces. Different projects garner different levels of appreciation in your home’s market value, so it’s never a bad idea to let your insurance provider know of any recent updates.
Working with companies like Hippo, who customize your plan to suit your individual needs, is a great way to make sure your home is safely protected. They can offer suggestions as to what you want to make sure is insured under your policy, and revamp your actual plan to make sure that any new additions are properly taken into account.
Other home renovation resources
While the iScape app is definitely a great place to go when starting any home improvement project, here are some other resources to help you learn more about the different aspects of what working on your home entails.
The following is a list of websites that can help you find more information:
- EPA, Renovation, Repair and Painting Program
- EBSCO Home Improvement Reference Center
- Hippo Home Care
- U.S. Department of Housing and Urban Development
Ultimately, when it comes to home improvement, it’s always important to make sure you are planning ahead in terms of what makes the most sense for you and your family. That’s what working with apps like iScape, doing your research on what types of renovations can bring in the best ROI for your home, making sure your home is properly insured, and investing in the areas that provide you with the most comfort based on your individual needs, are the best things to start thinking about when planning your next home renovation.