If you’re considering selling your house, then you are probably brainstorming simple ways to boost your curb appeal while also adding to the value of your home. Even if you aren’t planning on selling, home is where the heart is, and is often times where a homeowner’s savings plan comes into account. No matter what your motivation, it’s always a smart idea to keep your home up to date which saves you money in the long run. Following is a list of home projects that have been proven to see the highest rate of return on investment.
1.) Replacing Your Front Door
Day in and day out your entry door works tirelessly, welcoming you home and ushering in your guests. With all that hard work, it’s no surprise that your front door will get worn out. And when it does, you shouldn’t hesitate to replace it.
Year after year, Remodel Magazine’s Cost vs. Value Index has shown that replacing your front door can make a big impact on the sale value of your home. Swapping out your front door with a new steel door will not only kick up your curb appeal but is estimated to get you nearly 100% return on your investment.
2.) Kitchen Remodel
The kitchen is a room that can make or break your home sale. But you don’t need a dream kitchen remodel to see a decent return on your investment. A minor kitchen remodel that keeps a lid on investment can include new flooring, countertops and moderately priced appliances without going over budget.
On average, you can expect a 67% return on a $30,000 project. Projects that budgeted 6 – 10 percent of the home’s value tend to see the strongest return on investment.
3.) Turn an Attic into a Bedroom
When it comes to a bedroom retreat, a loft boudoir is much more than just a wonderful daydream, it can be a lucrative investment too. The floors, walls and ceilings already exist, therefore you will gain living space without having to add on to your home. This will help keep any remodeling costs down.
Turning your attic into a bedroom can potentially increase your home’s value by an average of $39,908. There will be code restrictions you have to follow, so it’s best to stick with the “rule of 7’s”. Enforcements will vary depending on your location, but most codes typically say that at least half of the room needs to be 7 feet tall, and this area also needs to be 7 feet wide and 70 square feet. But if you can cover that cost, chances are you won’t regret it!
4.) Siding Replacement
Old, worn siding not only gives your home truly sad curb appeal, but it can also contribute to a loss of up to ten percent of your home’s value. Tackling this project will require you to replace all of the siding as well as the factory trim at all openings and corners. But what material should you use?
Vinyl Siding is low maintenance, low cost, easy to install and durable, all of which help to free up time on a project like this. According to the “2015 Remodeling Impact Report”, the national average of $12,000 spent on a project like this yielded an 83% return on investment for people who chose to sell their home.
5.) New Garage Door
It probably comes as no surprise that a garage door replacement will provide a boost for your curb appeal at a relatively modest price. This is also a project you can have a little fun with because there are endless options!
A project replacing an older, two-car, steel embossed door has an estimated cost of $2,300. And if you choose to sell, you can expect a whopping 87% return on your investment, according to the “2015 Remodeling Impact Report”.