Whether your home is outdated and in need of repair, or you’re just looking to improve your home aesthetically, a remodeling project can greatly boost your home’s value when it comes time to sell. Certain projects are more desirable to buyers though – and therefore deliver a larger return at the time of sale – so if you or your clients are looking to invest further into a home, it’s important to choose wisely between which projects to take on next. To make your life – and the decision – a little easier, keep these eight sound investments in mind when you’re ready to commit to remodeling your current home.
- Replacing an entry door with a midlevel steel door is an inexpensive upgrade, costing only $1,162 on average, but it pays back 96.6% and can greatly improve your home’s curb appeal. This is the most cost-effective improvement you can make to your home this year!
- A new wood deck earns back 87.4%, on average, of its $9,539 cost at resale this year.
- Replacing exterior siding with upscale fiber cement. New siding pays back around 87%, on average, of the $13,378 average cost.
- A garage door replacement may not be high on anyone’s wish lists, but it’s one of the jobs that you do because it’s needed. Along with curb appeal and function, it also pays back 83.7%, on average, of the $1,534 price tag.
- A minor kitchen remodel pays back 82.7% of the $18,856 investment on average. Included are new laminate countertops and new sink, faucets and appliances. The floor is typically untouched and cabinets are kept in place but refaced with new hardware added.
- New vinyl siding upgrades the look of your home and pays back 78.2% of the $11,475 average price.
- Upscale vinyl replacement windows have a 78.7% payback on the $9,978 cost. The project involves replacing 10 double-hung 3-by-5 windows. The new windows are low-emissivity glass and are insulated with simulated wood-grain trim.
- Basement Remodels can be a bit more costly than other renovations, but can greatly improve an old home, and on average return around 77.6% of the $62,834 investment.
Are there any other renovations which you think should be on this list? What are your thoughts?
You can find out more about the return on home improvements here: