The past year has brought a huge surge in home improvements.  Whether DIY or hiring contractors, everyone seems to be working on a home project.  The most popular seem to be making a better home office, creating an in-law suite, and of course updating kitchens and bathrooms.

But what has really proved frustrating is how demand has impacted supply.  Out of stock and backorder have become commonplace at Home Depot and Lowes and getting a contractor to even call you back has become an unforeseen challenge.  

You should persevere.  Home renovations can be exciting and extremely rewarding (once they are done!) and choosing the right renovations to add value to your home is key.   

If you want the highest return on investment here are a few areas that add the most value to your home (90% ROI or more):

1. Minor bathroom or kitchen remodel – you do not need to break the bank to add value.  New fixtures, countertops, cabinet hardware, appliances or tile. These can often be done on a small budget and yet have major transformative power.
2. Curb appeal – Landscaping, a new front door, new vinyl siding, a deck.  These all have great returns and add to your pride of ownership.   One of the best value adders – a new updated garage door.
3. Converting the attic to a bedroom – another bedroom and more finished square footage equals major value add.  
4. Finishing the basement – more space for the family.  Instant value.

The Bottom Line: It’s never a bad time to add value to your home.  You do not need to gut the kitchen and baths to add some real value at a reasonable price.  Whether DIY or hiring a renovation expert, the key is planning, budgeting, and making the right choices for your home.

Sources: HGTV.com, Moving.com, Homelight.com

Photo by Aaron Huber