The Best Remodel For The Best Return On Your Home
Looking to knock out some walls or replace those kitchen counter tops, but not sure where to throw your remodeling dollars? Don’t stress, almost all home remodels can seem pricey, but the added value to your home and your comfort levels will justify it in the end. Whether you’re a new home buyer remodeling for comfort or about to sell your home and are looking to increase its value, these remodeling tips will help you get the most return on your remodeling investment:
Replacing Entry Doors: Doors are sometimes the first things people notice and can make or break a home. The Remodeling Magazine survey found a steel door costs $1,137 and adds $974 (85.6% of the cost) to the value of your home.
Replace Siding: In Addition to updating your entry ways, giving your home a “new skin” by replacing the siding can not only add longevity to your home but can add value as well. Your best bet, according to the NAR study, is by using fiber-cement siding. The average cost is $13,083 and adds $10,379 (79.3% of the cost) to your home’s value.
Add A Deck: Fun and functional, decks can be the deciding point on selling a home or having that summertime grill out at your place or your friends across town. A 16- by 20-foot addition will cost an average of $9,327 and adds $7,213 in value (77.3% of the cost).
Replace Garage Door: Another outward remodeling of your home, taking the money to add quality garage doors can really up your home’s value. They average $1,496, which will add $1,132 (75.7% of the cost) to your home’s value.
Update Your Kitchen: For you or for your future buyer, a kitchen with new appliances and features can make a house a home. A minor kitchen remodel – replacing cabinet fronts, counter tops and appliances – has an estimated price tag of $18,527. It adds about $13,977 in value, 75.4% of the cost.
Update Your Bathroom: Much like your kitchen, updating your bathroom to something more inviting and modern will add value both monetarily and mentally. Replacing fixtures and counter tops, the project price tag is projected at $15,782, which adds $10,295 in value, about 65.2% of the cost.
Turn That Attic Or Basement Into A Room: If you’ve got unused space, why not turn it into added value? On average, converting an attic will cost $47,941 and add $34,916 in value (72.9% of the cost). For a basement, you’ll spend $61,303 and add $43,095 (70.3% of the cost) in the value of your home.
While your house is definitely a home, it is also an investment. Taking care of that investment by making small to large scale renovations can bring you and your wallet some much-needed relaxation when it’s time to sell.