When it comes to home improvement, not all renovations are valued equally. Since improvements can get quite expensive, it’s helpful to know which will give you the most bang for your buck on resale since not all renovations will increase the home’s value enough to drive up the sale price to absorb the costs of the improvements.
Here are some home improvement ideas that will add the most value to any home.
Garage Door Upgrade
Upgrading the garage door is one of the top projects for recuperating initial costs. According to most estimates, this enhancement will yield around 95 percent in recuperated costs. When planning this project, experts recommend installing a garage door with windows in the top panel, a lifetime warranty, and galvanized steel tracks. High-performance additions like energy-efficient glazing and insulation are also valuable upgrades to consider.
Stone Veneer Exterior Upgrade
Replacing vinyl siding with manufactured stone veneer on exterior parts of the home is not only a curb-appeal upgrade, but also a valuable improvement. This upgrade will yield about 95 percent cost return upon sale of a house. And it doesn’t need to be put on the entire exterior to reap the benefits. Just adding it to the entryway of a house is enough to see a significant boost in value.
Minor Kitchen Remodel
Remodeling the kitchen is one of the best ways to add resale value to a home, if done correctly. It’s especially important to consider cost versus value in kitchen improvements because it can get expensive quickly without a great return on investment if the wrong choices are made. Homeowners can recuperate about 77 percent of minor upgrades while a major overhaul may only result in about 53 percent return on investment.
The most valuable improvements in the kitchen are upgrading appliances, installing new countertops, modernizing outdated hardware and fixtures, changing flooring and repainting walls.
Wood Deck Addition
Another exterior renovation that will yield a good return is adding a wooden deck. Homeowners can expect to recuperate about 82 percent of the cost of installing a 16’ x 20’ wooden deck when they sell the home. When planning this renovation, consider some cost-efficient features that will add not only value but also appeal, such as built-in benches and potters or a fire pit.
Mid-Range Bathroom Remodel
A middle-of-the-road remodel of bathrooms, such as updating flooring, hardware, toilets, countertops, and light fixtures, can add enough value to recuperate about 70 percent of the cost of the upon resale. This accounts only for spare bathrooms throughout a home, not the master bathroom.
Vinyl Siding Replacement
Faded and damaged siding can make a house look old and dated which can bring down the resale value. By replacing the siding, the home looks new and fresh for a better curb appeal. Such an improvement will yield about a 76 percent return on investment based on 1,250 square feet of siding.
The most important thing to remember when considering making updates before a sale is to research the cost versus value of all improvements. That’s the best way to ensure the improvements are profitable for resale.
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