DeLena Ciamacco: The Real Estate Expert: Renovations That WILL Pay Back

1. PAINT THE INTERIOR

Painting is a quick, inexpensive and easy way to refresh or update your home. New paint can transform a room into a totally new space. Most homeowners spend between $949 and $2,428 in home interior paint costs, according to online home improvement marketplace HomeAdvisor. At that price point, it's easy to recoup the cost when it's time to sell. Even so, it might be worthwhile to consult a professional before selecting a color. Not everyone knows that "light or white paint make small rooms and spaces appear bigger. Still, professional advice doesn't have to add to the cost of the project. Many national paint retailers like Sherwin-Williams or Benjamin Moore offer free paint consultations.

2. REMODEL THE KITCHEN

If it’s more than 15 years old, upgrading the kitchen floor, cabinetry and appliances to modern standards will net you more money during the time of sale. For many, a kitchen is the center of a home. According to the Remodeling report, kitchens still offer the most remodeling bang for the buck. The only remodeling job breaking into the top 10 in terms of payback is the minor kitchen remodel with a national average cost of $19,226 and a national paycheck of 79.3%. Still, renovators should ensure that they don’t go overboard. Make sure that the changes you’re making will be adding value to the property.

3. OPEN THE FLOOR PLAN

An open floor plan is one of the most sought-after features for today’s homebuyers. Older homes tend to have many walls and narrow hallways. Good news is that it can be relatively inexpensive to knock down a wall and create a more cohesive space. According to online home improvement marketplace HomeAdvisor, an interior demolition costs about $3,000 on average. Even load-bearing walls can be removed, preferably by a skilled contractor who can then place a beam in the ceiling for support. Even with added costs, this improvement can still add significant value to a home.

4. UPGRADE LIGHTING FIXTURES

You’ll be amazed at the difference great lighting can make in a home. It can take a room from unwelcoming to soothing. Most fixtures can be purchased for a few hundred dollars or less but it is always recommended to bring in an electrician which will increase an overall remodeling bill. Even so, the different enhanced lighting can make to a living space can make a lot of difference to a potential buyer later down the road.

5. REPLACE THE ENTRY DOOR

Installing a new steel entry door has the largest cost versus resale value, according to Remodeling's report. It's about a $1,200 project that's likely to boost your home's value by the same amount. It alone can transform the front of your house, and improve overall curb appeal, especially if you’re looking to sell or raise value. Before purchasing, learn what styles and materials work best with your home’s design. If you’re planning on painting the door and want to save money, buy an inexpensive neutral door and paint it yourself.

6. INSTALL OR REPURPOSE FLOORING
Updated flooring or new carpeting can help sell a home, according to co-founder of digital home management tool HomeZada, John Bodrozic. However, determination of whether the project pays for itself or not depends on how much money people put into the project. Existing carpets can be cleaned for about $174, and the average hardwood refinishing cost is $1,544. Installation of new flooring increases the cost: $1,493 for carpet and $4,432 for wood. However, you can reduce your costs. “If you have the skill or are willing to learn, you can save labor costs if you can do some of the work yourself," said Bodrozic. "If you do hire a contractor, make sure you get three to five bids, and make it known to the contractors that they are competing for the business. Depending on the marketing conditions and timing of your project, you could save yourself some money.”

7. UPGRADE TO ENERGY EFFICIENT FEATURES

"I'm noticing a big trend toward energy-efficient appliances, LED lights and tankless water heaters," said Diana George, founder of Oakland-based Vault Realty Group.

You don't have to wait until you move to reap the financial benefits that accompany an energy-efficient upgrade. A tankless water heater can cut a homeowner's water heating bill by about a fifth each year. A switch from incandescent to LED bulbs, meanwhile, can save a homeowner a surprising $300 per year.

Energy-efficient upgrades might not be the most exciting of home improvement projects, but they can have an almost immediate impact on a home's overall bottom line.

8. BUILD AN OUTDOOR DECK OR PATIO

Specific features tend to vary in popularity by geographic location, and the national average cost for this upgrade is about $10,000 for wood and $15,000 for composite materials, according to Remodeling's report. Of that amount, a homebuyer can hope to recoup about 80 and 68 percent, respectively.

9. Replace vinyl siding
It's not necessarily every homebuyer's idea of a dream home project, but new vinyl siding can dramatically enhance a home's curb appeal, which can make or break a homeowner's prospects when selling on the open market. Newer siding can also help curb heating and cooling costs, and decrease the conditions under which mold, fungus and mildew can thrive. New vinyl siding generally costs around $12,000, and will increase a home's resale value by almost $9,700, according to Remodeling. "Bath renovations are always worth the money invested," said Karen Gray-Plaisted of Design Solutions KGP in Warwick, New York. "If the home has good bones and quality finishes, the home seller will reap most, if not all, of the cost." A homebuyer can expect to pay about $17,000 for a mid-range bathroom renovation, and recoup about 70 percent, according to Remodeling. However, making smaller changes can also bring big rewards. "The impact a new light fixture can make can take a house from being dated to feeling new," said Plaisted. "I find upgrading light fixtures in bathrooms and kitchens to be worth every penny spent." In the end, a home renovation choice is about more than just the value you'll eventually recoup. Consider projects that will keep your home properly maintained, but also that your family will enjoy. A house is more than an investment, it's also the place where your family will build memories for years to come.

REMODELING PROJECTS THAT WILL GIVE YOU THE MOST AND THE LEAST RETURN ON INVESTMENT in 2016