Many people across the country renovate their homes to make them more appealing and functional spaces. So what are the most popular remodeling projects? What are typical real-world renovation costs of these upgrades? And how much value might they add to your home if sometime in the future you decide to sell?
We’ve got the answers right here in our fabulous home renovation guide. It will help you dream big AND keep to a smart budget.
To give you an idea of the kind of information you’ll find, let’s look at the third most popular home upgrade: the basement.
#3: The Basement Renovation
Coming in at Number 3 is the basement. If you’re ready to build the best basement on the block, we say go for it! The choices for a basement renovation are enormous.
You can create a family den or add a home office. You can build an extra bedroom so friends and family can visit. You can create a playspace for kids and grandkids too!
Our graphic below shows you typical renovation costs. Essentials like drywall, a ceiling, and carpets often average between $7,000 and $10,000. A new bathroom with the plumbing can be $6,000. And amenities might run another $7,000 to $10,000 depending on what you want, things like an entertainment center or bookshelves and storage.
The average basement remodel project can have up to a 70% return on investment (ROI). This means that if you decided to sell your house, you might make back about 70% of the cost of the renovation by selling your home for a higher price.
Ready to find out what a bathroom and kitchen renovation might cost, and their ROIs?