Unsurprisingly, recent reports confirm exterior remodeling projects provide the most value. Upgrading the exterior is an excellent strategy to have the property make a good first impression on potential tenants or buyers. Since you’re probably spending the bulk of your remodeling services budget on big-ticket exterior improvements, finding ways to make the most of your interior remodeling budget is a must.
Remodeling Services that Improve Curb Appeal
In New England, the best remodeling services for return on investment are projects that improve curb appeal according to Remodeling Magazine’s 2020 Cost vs. Value Report. Replacing the garage door is the top-performing remodeling project with a 95.5 percent ROI.
A close second is replacing the bottom third of the facade’s siding with manufactured stone veneer (87.8 percent ROI). Third place went to replacing vinyl siding (76.6 percent ROI). Nationally, a new roof is the remodeling project that provided the biggest ROI (107 percent) according to data from the National Association of Realtors.
In the event your property doesn’t need the already-mentioned remodeling services, you may want to consider other ways to improve curb appeal such as:
- Having the exterior painted
- Power washing the driveway, walkway, and porch
- Adding or upgrading exterior lighting
Saving on Interior Remodeling
There are many ways to help you save money on interior remodeling services. Some of our favorite tips include:
- Use stock products rather than custom ones. During the design phase of your project, it’s important to use standard dimensions for everything to avoid the need for custom products later.
- Put new plumbing fixtures in the same locations the old fixtures had. Moving toilets, sinks, showers, or tubs can add thousands of dollars to the project’s cost.
- Increase natural light with solar tubes. They’re a less expensive alternative to adding a skylight or a new window.
- If the property needs new floors, consider installing luxury vinyl plank (LVP) for rentals. It’s affordable, durable, and looks much nicer than the vinyl floors of decades past.
- If you’re selling the property when the remodel’s complete, engineered hardwood is an attractive and budget-friendly alternative to hardwood floors.
Boston Remodeling Services
We have years of experience remodeling properties for Boston area investors. Contact us when you’re ready to remodel your next investment property.