Deciding which home improvements to pursue can be a challenge, and these undertakings can get expensive quickly. Many people complete renovations or remodels to increase the value of a home. Others may want a change for themselves, to update a room or part of the house, but doing so with future value in mind. Here are the projects that are going to deliver the best return on investment.
Upgrading the Garage Door
In many houses, the first part that people see from the street is the garage door. With upscale garage door replacements yielding over a 100% ROI, this is a wise use of a home improvement budget. Many different materials can be used to upgrade, including metals like steel and aluminum. These are long-lasting and will handle the impact of weather the best. However, for those that prefer a wood door, there are more and more synthetic wood materials that are available. These materials are much more weather-resistant than natural wood, and it can be hard to tell them apart.
Adding on a Deck or Patio
The addition of a deck or patio, utilizing either natural wood or a synthetic version, can add significant value to your home. It also supplies a great place to hang out with friends and family or to relax outdoors. Natural wood tends to allow more of a cost recoup than synthetic wood, but requires more maintenance and expense to upkeep.
Focus on the Kitchen
The upgraded kitchen is a common selling point for realtors. Many buyers like to have a high-quality kitchen already incorporated into the house so that they are not completing
updates right after they move in. The main components to focus on are the kitchen cabinets. Cabinets control the tone and feel of the room. With a little creativity, you can change the entire look of the kitchen by replacing hardware, painting, refinishing, or reorganizing cabinet configurations. Other areas in the kitchen to target are backsplashes, flooring, energy-efficient appliances, and countertops. A quality kitchen, even with minor renovations, can recoup upwards of 80% of its cost.
Don’t Forget the Bathroom
Like the kitchen, bathrooms are an essential part of the house for home improvements. Bathrooms can offer an ROI of around 70%. The good news is that you can reach that number with minor renovations; in fact, more substantial projects result in lower recouped costs. Some examples of small improvements are upgrading the fixtures in your bathroom, installing updated toilets, redoing counters, retiling, and switching up the lighting to make the room more aesthetically pleasing.
Revamping your Siding
When siding begins to deteriorate, it can impact the look of the entire house. Replacing your siding can revive your home as well as your budget, as you can recoup up to 76% of your costs to update it.
Sometimes it seems that the whole house needs improvements. However, you can narrow it down by focusing on these areas that will deliver the most value back to your investment.
Based on research, the main parts of the house to improve are certain exterior aspects, bathrooms, and the kitchen.