Uncovered: Best Improvements for Homeowners
As a homeowner, we are always looking for ways to improve and make our space it's best. Whether you are looking at your home as a long-term investment or are focusing on the potential of a future sale, there are certain improvements that can be made that will yield the highest return on your investment. Take a look!
Best Improvements for Homeowners:
1. Garage Door Replacement (Appx. Cost $3,500; 98% ROI)
Garage door and entry door replacements go hand in hand. They are great visual first impressions! Financially it makes sense with a great return-on-investment. And just speaking as homeowner, it GREATLY improves your curb appeal!
Your entry door replacement is a relatively affordable project that will vastly improvement your overall first impression, whether for your visitors or for potential buyers.
3. Attic Conversion Into a Bedroom (Appx. Cost $47,000; 73% ROI)
This is a large project with the potential of a hefty return While the actual percentage looks low, if you factor in the price charged for an extra bedroom, it is worth it! If you could use an extra space for a bedroom or office, why not convert the under-utilized space in the attic? Regardless if you're end goal is a more comfortable living space or a higher sales price, BOTH can be accomplished in this project.
4. Deck (Appx. Cost $11,000; 83% ROI)
A deck can create an inexpensive additional living space on your property (in comparison to an addition). Entertaining and outdoor dining options are important to lots of homebuyers. The return on a deck project is well worth the investment. AND, if you're simply trying to upgrade your space, a deck will offer tons of bang for your buck!
5. New Siding (Appx. Cost $15,000; 77% ROI)
From a homeowners perspective, vinyl siding is an excellent investment. It not only improves appearance, but it provides an energy efficiency increase. Same logic applies to those who are thinking of selling in the near future. It's a win/win!
6. Minor Kitchen Remodel (Appx. Cost $22,000; 81% ROI)
Kitchens tend to be the heart of the home. Doing a minor remodel can result in great return..not only on the amount of money you can recoup, but on the general saleability of your home. Whether you want to sell soon or just have an updated kitchen that you love, minor remodels (cabinetry, counter tops, energy efficient appliances) are a thumbs up!
7. New Roof (Appx. Cost $7500; 109% ROI)
For homeowners looking for great curb appeal and energy efficiency and to those thinking of selling, a new roof carries some heavy bang for it's buck. If you have missing or curled up shingles, go for it. It will always be worth it!
So, there you have it! A few ideas of how to raise the value (and comfort and style) of your home regardless of your end goal! If you need more tips and ideas or a fresh eye on your home, give me a call! I'd love to help and my advice is free!
Until next time,
Melissa Hall, Realtor
Rector Hayden Realtors
(859) 536-3923
Sources: thebalance.com; Remodeling Magazine
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