5 Home Renovations Worth the Cost, According to Millionaires

When you own a home, it’s easy to get overwhelmed with the constant repairs and upgrades you have to do. One day it’s new windows and the next it’s removing carpets and putting in hardwood floors. It can feel never-ending. And how do you know if it’s even worth it? After all, not all renovations are created equal!

GOBankingRates spoke with Josh Rudin, a home renovator with millionaire clients at ASAP Restoration, who outlined the types of home renovations which are worth the cost and provide excellent return on investment. He also offered some tips and tricks that have helped his millionaire clients — and can help you, as well.

Here are 5 home renovations that are worth the cost, according to a home renovator with wealthy clients.

According to Rudin, “For a luxury home, a stand-out kitchen isn’t just a great investment, it’s a requirement for the home to qualify in the upper echelon. Without a decked-out kitchen, a home doesn’t feel like it has all of the luxury amenities that it needs, and prospective buyers will absolutely notice.”

“When there are already more bedrooms than the average family needs, a home office is one of the best ways to not only use up the extra space, but to get the most value out of it as well,” Rudin shared.

Ever since COVID, many more people are working from home and having a functional (and attractive!) home offices is seen as highly attractive.

“As more people work from home, the need for home offices has increased dramatically. With a luxury property, a home office is a positive addition that many potential buyers will be looking for, and that will absolutely make a positive impact on the ROI,” Rudin suggested.

If you can swing it, converting a bedroom into a stylish home office is absolutely worth the cost.

If we’re being honest, a home theater sounds like a not-so-logical choice for a renovation — and while Rudin agrees it might not be right for everyone, he believes it can add real value.

“For most properties, a home theater will not recoup the costs involved in its creation… but when it comes to luxury properties, a home theater is a solid addition,” he said.

“Not only will a home theater potentially lure in many prospective buyers, but it is the type of feature that will also achieve a positive return on the investment with the right property too.”

Plus, who wouldn’t want to settle into a plush chair with some movie theater popcorn to enjoy the latest release?

Rudin noted that a home gym is a feature which buyers transitioning from luxury apartments often miss the most.

“For those buyers with the means, a home gym can help to swing the sale in the right direction. To get the most bang for the buck, a home gym should accommodate multiple machines and activities. Essentially plan the space for at least two people to work out simultaneously so that the space feels inviting rather than just a closet with a bench press,” he said.

When it comes to luxury amenities, Rudin advised getting fancy with your bathroom renovations.

“When adding luxury amenities to a home, pull out all the bells and whistles for the bathroom treatments. Add heated floors so that it isn’t ever too cold in the morning on the feet. Put in a steam shower inside the space to make it really stand out. If there’s space, add a sauna to amplify the space and make it feel like a Grecian spa,” he concluded.

If you still want that high-end look but are looking to save a little money, Rudin had some ideas for things that can up your game without costing a literal fortune. He suggested: “A rain shower, high-quality linens, and designer lighting can make the space really pop.”

There you have it. If you’re looking to upgrade your home and are considering what items are worth the cost, you might consider a high-end kitchen, home office, home theater, home gym and a luxe bathroom. They’ll not only level up your own comfort, but they’ll make your property more appealing to luxury buyers when it’s time to sell.