Written by Tom Tomasian
Summer is finally here! Many homeowners will be looking to remodel their homes over the next few months. Done correctly, new home renovations will increase the current value of your property, improve functionality, and allow you to enjoy your home for years to come. Let’s take a look at some of the most popular projects that we are seeing today.
Upgrading your kitchen can often be the most expensive update to your home. According to data collected by Home Advisor, the cost of remodeling your kitchen can range from $14,000 to more than $35,000 in the Boston area. The cost can vary depending on the quality of the appliances, cabinets, and countertops you choose, as well as the size of your kitchen.
Historically speaking, kitchen upgrades do yield the highest return on your investment. Jon Heelen of Gibson Sotheby’s in Savin Hill believes that homeowner can get back as much as $1.50 to $2.50 return on investment for every $1.00 spent. If you choose your upgrades wisely and stay within your budget, remodeling your kitchen can pay handsome dividends when it’s time to sell.
For some of us, the time we spend in the bathroom is the only time we have to ourselves during the hectic daily grind. Jack Ordway of EJO General Contracting in Quincy says that homeowners can expect to spend an average of $13,500 to $15,000 for small to mid-size bathroom remodels.
According to the home improvement website Porch.com Boston-area homeowners generally see a 74% return on their investments in bathroom renovations when they sell. However, even before you sell, your investment in your bathroom can pay off in the form of utility savings and increased quality of life. New tiles and bathroom fixtures can replicate that spa-like experience you find at the five star resorts. And don’t neglect replacing that outdated toilet. A more energy efficient toilet is relatively inexpensive and can help cut down on your water bill. Your new throne should be fit for the king or queen of the house.
First impressions go a long way. According to Better Homes & Gardens, there are several budget-friendly ways to add curb appeal. Consider adding color to your front door with a fresh coat of paint and replacing old hardware. New outdoor lighting fixtures can be inviting and also add security and safety to your home.
Summer is also the perfect time to add outdoor entertaining space. Ryan Polin of South Shore Landscaping in Braintree says that composite decks and new stone patios are his most popular jobs in the summer. These updates are higher priced ticket items, but will give you a beautiful space to make memories with family and friends for years to come. You can further enhance your space by keeping your lawn green and adding flowering plants to your yard. If you want to add more a natural touch, consider these butterfly-attracting plants.
There are many reasons that a person may choose to renovate their home: getting it ready to sell, adding a personal touch, making it more functional for their family, or simply because it’s time for a change. No matter what the reason is, the summer season is the perfect time for you to get working on these projects. Investing in your home makes financial sense and can also improve your day-to-day life.
With the recent increase in home values, many homeowners have substantially increased their equity over the last few years. With rates expected to rise later this year, this may be the perfect time for you to consider refinancing and using your cash to complete the home renovations you have always wanted. Please call me at 617-866-9900 or email me at [email protected] if you would like to learn more about your options. I am here to help! ☺ www.massmortgagepro.com
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