Whether you’re planning to stay in your home for a long time or you’re getting ready to sell, it’s smart to know which home improvements are best for increasing the value of your home and for recouping the money you spent on them.
The 2019 Cost Versus Value Report recently revealed the top four renovations that bring the greatest return on investment. If you can guess them for yourself, then kudos to you because I was wrong. Here are the top four improvements, accompanied by what the report had to say about them:
1. Garage door. A good-looking garage door tops the list when it comes to getting cash back on your investment when you decide to sell your house. The average cost is $3,611, but the recouped value was 97.5%! If you do go with this renovation, make sure that your new door is hurricane-resistant; this will lower your insurance.
2. Stone veneer on the exterior of your home. Replacing vinyl siding with stone veneer on part of your home, such as an entryway, is a big curb-appeal upgrade for your home. The average cost of the project is $8,907, but you can recoup about 94.9% of the cost when you sell.
3. Minor kitchen remodel. Creating a modern-looking and functional kitchen can add more than just value to your home; it can also boost your enjoyment of everyday activities like cooking, entertaining friends, and sharing meals with your family. The average cost for a minor kitchen remodel is $22,507, but you can recoup about 80.5% of the money spent.
4. Deck additions. If you’re lucky enough to own a house with a big yard, having a wooden deck can be an extra enhancement to enjoy the outdoors around your home. The average cost is $13,333, but you can expect to recoup 75.4% of your expenditure.
There you have it! Now, we have an offer for you: We can provide you with a room-by-room analysis of your property, where we’ll give you some tips and pointers to help you fix up your home and increase its value, saleability, and curb appeal.
If you’d like to take advantage of this offer, feel free to give us a call at 1-800-822-1222 or visit our website to schedule a free strategy session to figure out what improvements you can make to your home. We hope to hear from you soon.