Top Six Home Improvements That Pay Off
One of the joys of being a homeowner is being able to make changes to your home to really make it “yours.” If you plan to live in your home for many, many years, don’t be shy about doing things to it that add to your family’s enjoyment — even if they might not be everyone’s cup of tea.
However, if you want to keep an eye on return on investment (ROI), knowing you may sell sooner rather than later, it’s a good idea to research home improvements that buyers typically love. Take a look at the following six, courtesy of Zillow:
- Focus on the Best: Bathrooms. A mid-range bathroom remodel — perhaps replacing the toilet and light fixtures, and adding a new or double sink — is one of the easiest ways to get the most for your money. On average, a bathroom remodel of this type results in a $1.71 increase in home value for every $1 spent.
- Look Up: The Attic. Adding fiberglass attic insulation is the only renovation that gets more than a 100 percent ROI, according to Remodeling Magazine’s 2016 data. An average investment of $1,200 will recoup around $1,482, a 116.9 percent return. If you choose to convert your attic into a bedroom, you’ll also see a high return, as much as 84.3 percent. And, if you have exposed brick in your attic, you could get nearly 5 percent above the expected listing price and sell your home 36 days faster.
- Make a Strong First Impression: The Front Entrance. S. News reports that something as simple as updating your front door — painting it or installing a new one — can bring the highest return of nearly any project: 96.6 percent. Adding stone veneer around the bottom of the house — either to replace a few layers of siding or cover an exposed foundation — is another worthwhile investment that can have a 92.9 percent ROI.
- Get Cooking: A Minor Kitchen Upgrade. Since kitchens are so high on the priority list of most potential buyers, they’re a worthwhile place to invest money. Zillow Talk estimates a minor kitchen remodel can recoup 83.1 percent of your costs. Anything dated is a big turnoff for buyers, but don’t think you have to go gourmet. Even swapping out kitchen cabinet hardware can take years off a dated kitchen.
- Open Wide: Replace the Garage Door. While it will cost more than addressing your front door, replacing your garage door will result in a high ROI and you can’t put a price on the enhanced curb appeal. With an average cost of $1,652 nationwide, the ROI was 91.5 percent, or $1,512. If that feels overwhelming, a fresh coat of paint or stain to cover any nicks will do wonders.
- Saddle Up: Update Exterior Siding. Engineered siding comes with a hefty price tag, but a 78.6 percent ROI according to Remodeling Magazine. Vinyl siding is a bit less expensive but also has a lower ROI of 73.2 percent.
Whatever home remodeling projects you choose to undertake, the Authentic Designs & Remodeling team is ready to assist you. Let us know how we can be of service.