We all want the perfect house, and of course, we want it to be comfy, updated and welcoming at all times! Keeping it updated can force us to dip into our savings account and it may seem as though the updates are a never-ending-list. It is important to know the average return on investment (ROI) of the projects you are thinking about completing so you can get the biggest bang for your buck. This could help you with the decision-making process of what needs to be renovated in your home before you sell.
Being happy with your home is a big factor with ROI, however, below are the 5 Highest ROI Home Renovation Projects.
Entry Door Replacement
We know it sounds simple, but it’s true. Replacing your front door can make a huge impact on the value of your home. However, be sure to choose a style that fits well with the style of your home. If it doesn’t flow with the style, it can actually decrease the ROI. Steel doors bring in a bigger ROI with a national average of 101.8%. Fiberglass doors bring in an ROI of 72% and Grand Entrance Fiberglass brings in an ROI of 67.6%.
This room can make or break the sale of your home. Want to make your home impossible to walk away from without receiving an offer? Update the kitchen. If you do not have enough in the budget to update the entire kitchen, start with these spots:
Most Popular Replacements in Kitchen Remodel:
74% Update Countertops
70% Update Paint/Wallpaper
67% Update Cabinetry
64% Update Flooring
While you might be tempted to redo the entire garage, a little work on the door could give you a serious improvement in value. If you or your teenager bumped into the door with the family car, it might be a little scuffed or dented.
Replacing that one section could add a lot of curb appeal that could increase your selling price down the road.
While it might seem like a big project, you could see a serious investment return on a repainted home. Since the color and the exterior of the house is what will draw in potential buyers, think about repainting your house or fixing the exterior stucco.
Cost varies by size of job, painter, type of materials-but this is one project that could drastically improve curb appeal and buyer’s perception of condition of home.
If you entertain from time to time, an upgrade to an outdoor space can be an enhancement that you can enjoy year round and it can add some value. Brick pavers or travertine decks are great long lasting materials to install and can be a major selling point for home buyers.
Rather than scattering chairs randomly around your lawn, you could have a central region for grilling, sitting, prepping food or just relaxing throughout the year. With so many options available – from outdoor kitchen buildouts, shade structures, water features and more, it’s easy to enjoy the area year round and increase the value of your home at the same time.