USA Today recently reported that as a result of Amazon choosing Northern Virginia for its second headquarters, the value of homes in that area is rising considerably. That is very exciting for homeowners in Northern VA, especially for those who want to sell their homes in 2019.
Whether you plan to stay in your home for the long term or plan to put your home on the market soon, now is a great time to consider a home renovation.
It is rare to talk with someone who says they live in the perfect home. It is more common to hear a wish list: “I wish I had a more modern kitchen,” “I wish we completed that basement home renovation a few years ago to have more space for the kids to play,” or even “I wish we completed those home additions, so we would have extra bedrooms for guests when they visit.”
If you are one of the lucky homeowners in Northern Virginia, perhaps now is the right time to tackle your wish list of home projects.
Remodeling Magazine recently published its list of home renovation projects that have the best return on investment. They ranked the 21 most popular projects in over 100 U.S. markets.
If you extract the Remodeling Magazine results for Northern Virginia, the top five home improvement projects with the best return are:
- Garage door replacement. The average cost is about $3,500. The average return is 95%.
- Replacing a portion of vinyl siding at the front of the home with stone. The average cost is about $8,000. The average return is 97%.
- Adding a wood deck. The average cost is about $10,000. The average return is 88%.
- Updating house siding. The average cost is about $14,000. The average return is 88%.
- Minor kitchen remodeling. The average cost is about $20,000. The average return is 81%.
A few other remodeling products with sizable returns are remodeling a bathroom and finishing a basement. The average bathroom remodel has a 73% return. The average basement upgrade can have up to a 70% return.
Some of the popular 2019 house remodeling trends include painting brick on the outside of your home, adding more real wood accents and cabinetry, and installing more noticeable and fun backsplash accents in the kitchen and bathrooms.
If you plan to sell your house in the near term, these return on investment figures may be more interesting. If you plan to stay in your home, then the sky is the limit. You can focus your remodeling job on the exact areas that are most important to you.
Are you someone who often talks about your home wish list? Now is the time to grant your wishes and move forward with your home remodeling renovations.