If you are deciding where to invest in your home, it’s important to consider the long-term. The best home investments are those that benefit you now as well as in the future. So when you’re limited by budget or time, make sure to opt for upgrades that will improve your daily life now and provide you with the highest return-on-investment (ROI) later.
The kitchen and bathroom are obvious places to start but if you can’t afford to remodel these spaces completely, there are still changes you can make to spruce up the look and feel of your home and to set you up to resell it in the future without worry over its condition. We’re here to help you through the decision process with ease!
The Best Home Investments in the Mid-Atlantic: Cost vs. Value
Of course the best home investments aren’t the same for every family and every home. You’ll need to consider which spaces actually need improvement—if you’ve got a relatively new master bath or you installed new doors and windows a couple years back, that may not be the place to start. Similarly, certain projects may suit your aesthetic tastes but may not be very practical in terms of cost and use.
However, there is data that shows the types of projects known to yield the highest long-term ROI. According to Remodeling’s recent Cost vs. Value report, the best home improvements for Maryland and Delaware households include:
- Attic bedrooms
- Basement remodels
- Bathroom additions and other home additions
- Bathroom remodels
- Kitchen remodels (minor and major, to varying degrees)
- Home office remodels
- And more
Depending on your exact location and the extent of the upgrade, Remodeling estimates as much as 76 percent of your costs can be recouped through any of the projects above. Minor kitchen remodels that can provide up to 68% ROI in Pennsylvania or New Jersey and as much as 84% in Delaware or Maryland include countertop or cabinetry replacements and kitchen island installations.