Home Improvements with the Highest Rates of Return
Renovations are crucial in making your house appear modern and well-kept, and they have the potential to increase the value of your home by a large percentage. When considering home improvements, it’s important to think about the returns these changes will give you in the future. Certain renovations can potentially get you up to 90% of the expense back and be major selling points when selling your home.
Here are a few improvements that have the highest rates of return in the past year:
Garage Door Replacement
Updating your garage is possibly one of the most beneficial renovations you can make. Depending on the look of the door, a new one can make your home look instantly cleaner, newer, and more elegant. Consider a garage door with classy ornaments, like antique door handles or windows. Data from recent years shows that you can get a fantastic ROI from this small but impactful change.
Kitchen Face Lift
Kitchens are great selling points for buyers. Just a few small projects on the kitchen, as opposed to a complete remodel, will greatly benefit you. Repaint the walls, update appliances, add new flooring, and replace door handles, cabinet doors, and drawers. You’ll be shocked at how new your kitchen looks and the amount of ROI you get with just these small changes! Check out our tips on cheap ways to improve your kitchen here
If you’re looking for a quick way to make your home look outdated and worn-down, compromise the siding. Siding is commonly vulnerable to getting dirty and worn-down. When replacing it, consider what material you want for your siding and the cost of its upkeep. Vinyl siding is becoming more popular because it is less expensive and doesn’t require painting. Replacing the siding can potentially get you great ROI and make the exterior look good as new.
Doors are also vulnerable to getting scratched and damaged from frequent use and can determine your impression of the home’s value from the moment you walk in. Replacing a door, especially your front door, with an elegant new color and sturdier material can get you great returns. And you’ll be surprised by how new and clean your house looks with a new door!
Overall, small projects like these can make a huge difference on the value of your home, which means more money in your pocket when selling. In general, if increased ROI is your goal, focus on little face lifts like these as opposed to complete renovations. You can still get your dream master complete with walk-in closet, deluxe bathroom, and full bar with mini fridge. But if you want to maximize returns, you’ll want to take conscious and informed baby steps.
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Craig TannBroker huntington & ellis, A Real Estate Agency