Extreme Home Makeover first launched in 2003 and this popular home show ran for nine years on ABC! Designers would race the clock to completely renovate a house for a family within one week. The remodel included every room, as well as the exterior and the landscaping.
When Extreme Home Makeover ended, fans flocked to HGTV’s new home remodeling show Fixer Upper with Chip and Joanna Gaines who operate Magnolia Homes in Waco, Texas. This power couple remodels homes with potential into beautiful homes. Along the way, they help the homeowners to visualize the unseen potential. This popular TV show ran from 2013 to 2018. Lucky fans are looking forward to Fixer Upper: Welcome Home and the return of Chip and Joanna Gaines in 2021, but in the meantime Fixer Upper can be streamed on discovery+.
In 2020, HGTV introduced their new spin on Extreme Makeover: Home Edition showcasing total home revamps of the interior, exterior and landscaping design. In this new reboot, makeovers and renovations are less extreme to provide a home that truly fits the family’s unique needs.
Bigger is not always better, and this is especially true when it comes to remodeling your home. By selecting the best projects to improve the home, homeowners can significantly increase the home’s overall return on investment and recover costs.
But, which of the extreme home makeovers actually add value to your home? Which are the most impactful? And which will you enjoy the most?
Adding curb appeal to the home is one of the first steps to attract potential buyers. A well-kept-lawn, fresh paint and updated exterior fixtures are some of the key changes that enhance the home’s first impression. For a professional paint job, the cost can be between $1,000 and $6,000 for the average home of around 1,500 to 2,500 square feet. Another important change is upgrading exterior siding for a fresh look. Replacing existing siding with new fiber-cement or vinyl siding can yield a return of 69.4% or 68.3%, respectively.
Another renovation important to the home’s curb appeal is a garage door replacement. Although this is more of an upscale project, this can yield the best return at 93.8%. The top options for garage doors are durable materials such as steel, aluminum or wood composites. It’s crucial to consider the type of weather and exposure the home experiences to select new garage doors that stand the test of time.
Adding colorful flowers helps curb appeal as well. From raised beds to potted plants and hanging baskets, flowers are a great way to give a home a pop of color and create a smile. Don’t forget about the landscaping either – keep the lawn clean with regular mowing and add a new layer of mulch or pin straw to all the beds.
Minor Kitchen Remodel
Although many homeowners assume a major kitchen remodel is the way to receive the most bang for your buck, research shows that a minor remodel is actually more likely to provide a substantial return on investment.
Paint the walls for a refreshed look, update the kitchen cabinet fronts with shaker-style wood panels and new hardware, add new flooring and upgrade any outdated appliances with energy-efficient models to create a space that will bring back the highest return at around 72.2%.
Consider replacing old laminate countertops with granite or Corian as well.
Although new roofing is a project with higher costs, this exterior project provides a 109% overall return on investment. The average roof replacement costs around $7,500 with an estimated cost recovery of around $8,000, meaning homeowners can profit from this home renovation.
About 39% of Realtors suggest sellers replace their roof before selling as this can play a vital part in finalizing a sale. Prospective buyers are more likely to invest in a home that has a new roof which creates an appealing exterior and allows peace of mind knowing they won’t have to do repairs.
Replacing old windows is a great way to improve the home’s energy efficiency and its exterior appeal, both large selling points for today’s buyers. The cost of replacing windows typically starts around $10,000, but this investment can save homeowners a substantial amount over time on cooling and heating throughout the home.
When replacing windows, it is important to match the existing trim on the house – both exterior and interior. By replacing the old windows with new double-paned, vinyl windows, homeowners can expect a price of around $19,385 with 68.6% of the cost recouped.
Enhancing Outdoor Living Spaces
Renovations that provide the best payoff often relate to the home’s exterior, and this includes the outdoor living areas. Current homebuyers prioritize space for outdoor entertaining, which makes adding a new deck a valuable home renovation project.
The Cost vs. Value Report for 2021 from Remodeling magazine indicates the addition of new wood decks ranks high among renovation projects that yield one of the highest returns at 65.8% To add the most value, create a deck that has unique features to set it apart including built-in bench seating, railing, steps and a planter.
One of the most popular remodeling projects is completing renovations for the bathroom. Instead of adding additional bathrooms to the home, it’s more important to consider whether the home’s current bathroom has outdated features that could be replaced or upgraded to increase the home’s appeal.
Key changes to increase payoff include the addition of new tile flooring, renovating lighting fixtures, updating the shower or tub or replacing vanities. This remodel has an average cost recovery of about 60.1%.
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