Quite often we are contacted by homeowners to consult on what they should, or shouldn’t do to their homes. Small upgrades can be done just because you want to make your house feel more like ‘home’. Larger ones should be carefully considered, so that you spend your money wisely. When deciding on a home renovation project, most homeowners search for one that will increase both the visual aesthetic and the value of the property.
Some renovations, of course, add more value to a home than others. Everyone has different tastes, but some features such as higher quality materials generally offer a higher return. The key is finding a project that offers the most future benefits, while also being a feature you can enjoy.
- Steel Door for Entryway
This renovation heightens the curb appeal of your home and also comes with a low price tag. Although a small project, this minor improvement ranked number one on The National Association of Realtors list of remodels that pay off. Steel doors are also said to increase energy efficiency and durability and they are more secure than other types of entry doors.
- Garage Door Replacement
Also increasing security, when replacing a garage door you can expect to get back around 83 percent of your investment cost. When prospective buyers first walk up to your home, features like a new garage door are more likely to entice them. When the outside is up to par, it leads buyers to believe the inside is in good shape as well. An old garage door is often unattractive. Older models also may not offer the insulation that newer models provide so your new door may save on your heating and air conditioning costs.
- Kitchen Remodels
A major kitchen remodel generally returns around 80 percent of its investment costs at resale. This, however, varies significantly based on the project, your home’s value, and your location. As with any project, the way it looks in the end has a large impact on its return.
Generally, you should stay with the theme of your home and turn to an expert designer for advice when needed. However, modern kitchens with the newest features are usually a big hit. Back splashes, granite and marble materials, stainless steel, and energy efficient appliances are, in many cases, attractive to buyers as long as the design matches the rest of your home.
- Deck Addition
Ideal for cookouts, gatherings, and outdoor conversation, a deck can benefit you both now and when you sell. When potential buyers see a new deck out back, it often brings about thoughts of the activities they can do out back at their new house. A deck also increases the amount of living space you have for a low price tag. You can expect to get back around 87 percent of your investment cost for the addition.
- Go Energy Efficient
According to Census data, nearly one out of every four renovations are designed for energy efficiency. Before taking on an energy saving remodeling project, examine your home for areas of improvement. Common finds are windows, doors, or an attic that needs sealing, which will save you money on your energy bills. Maybe you have really old windows (30+ yrs) and you want to go ahead and just replace them all. Is it really cold upstairs? It’s also not uncommon for a home to be under-insulated, so insulating upstairs may be a project you want to take on. Heating ducts may need attention or you may have an old hot water heater.
