Remodeling your home can be a great way to increase its value and ensure you get good returns when it comes time to sell. But before you go tearing out your floors or adding another bedroom, take note: Not all projects are created equal. In fact, according to recent data from Remodeling Magazine ‘Cost vs Value Report’, there is a pretty big discrepancy between which projects deliver high returns and those that don’t.
Want to make sure your remodels are worth the effort? Here are some of the top options:
- Get a new garage door. On average, it delivers returns of more than 98 percent upon resale.
- Focus on curb appeal. Such as: wood deck additions increased over 18 percent in value, while tone veneer installation value was up almost 14 percent.
- Replace your entry door. Don’t bother sprucing up old doors. Replacing them with steel models can deliver a whopping 91 percent ROI.
- Upgrade your kitchen. Minor kitchen remodels continue to be a top value-adding project. This year, the average small remodel recoups more than 81 percent of your costs.
If you are looking to boost your home’s value and increase its marketability, focus your efforts on projects that improve aesthetics and add ease and convenience instead.