When it comes to home improvement, there are two important factors to consider when determining where to put your money: is it something that will increase the value of the home for you, and is it something that will increase the value of the home for you? ? others. , as long as you decide to sell your house. The most valuable home remodels are those that increase the value of your home in fair proportion to the amount you spent on them.
Upscale garage door replacement:
It may not be the most exciting upgrade, but replacing your current garage door with an upgraded model will yield you 98.3 percent in recouped costs across the nation. This number increases sharply for specific areas, with 46 out of 100 markets in the Cost vs. Value Report seeing more than 100 percent in recouped costs for this project. Now that’s money well spent.
Today’s best garage doors are those built with durable materials like steel, wood composites, and aluminum, and that have high-performance additions like energy-saving glazing and insulation. Wood is a classic choice aesthetically, though it’s not quite as weather-resistant. If you really want a wood garage door, get the best of both worlds by looking into fiberglass or wood composite, which can have the same appearance as wood without the downfalls of the material.
Manufactured stone veneer on exterior:
Another exterior home improvement that offers a strong return on your investment is enhancing the exterior of your home with manufactured stone veneer. A manufactured stone veneer isn’t really stone at all—it’s a man-made composite material shaped in molds. It has the same look as real stone, however, and is installed in the same way. It’s a great way to boost curb appeal and update an old or boring exterior. Even doing just a portion of your home (for example, the area around your front entryway) is enough to reap benefits. According to the report, the national average return on investment for manufactured stone veneer is 97.1 percent.
Wood deck addition:
The renovations that give you the most value tend to be focused on the exterior of your home. And when it comes to your backyard deck or patio, wood is the way to go. A composite deck addition or a backyard patio won’t yield you quite as much on the return as wood will at 82.8 percent (composite deck and patios yield an average return of 63.6 percent and 47.6 percent, respectively).
The kitchen (within reason):
The kitchen is major when it comes to the most valuable home improvements. Buyers often look here first when determining whether a home is worth its asking price, since most people want an upgraded kitchen without having to pay a ton of money to get it after purchasing a house. There are a range of valuable home improvements you can make in the kitchen to fit your particular budget and objectives, from putting in energy-efficient, stainless steel appliances to painting cabinets and installing new countertops.
Interestingly, you don’t have to spend big in the kitchen to get a big return. A minor kitchen remodel will recoup about 81 percent of its cost in average resale value, while a major upscale kitchen remodel will recoup only about 53.5 percent of its cost. The most valuable home improvements in a minor kitchen remodel include modernizing the cabinets and countertops, upgrading to brand new appliances, updating the sink and faucet, and updating the flooring.
Siding and vinyl window replacements:
Old, damaged, or deteriorating siding can seriously date the look of your house, and not in a charming way. Fortunately, updating your siding is a valuable renovation, bringing in a cost recuperation of 76.7 percent based on a purchase of 1,250 square feet of siding. Just make sure not to neglect the trim, since it’s an important factor in making your siding upgrade look its best.
