Are you considering investing in home renovations? Maybe complete kitchen update or bathroom renovations, perhaps even a new addition, like a master suite? These may be popular ideas. However, investing inexpensive home improvements does not necessarily generate the highest return on investment (ROI). In a big way, it pays to better understand current trends and current investment performance before making such an investment.
Markets across the country consider how much contractors charge for these upgrades compared to the valuation given by real estate agents to determine the fair market value of a home relative to homes for sale. Here are a few popular and valuable home improvements.
Suppose you are thinking of selling a home. In that case, this is something to consider because, according to the report, the cost to replace a garage door averages $ 3,427 and has a resale value of $ 3,262, which is a cost recovery of approximately 95%. Scope of work should include removal and removal of existing garage doors and tracks.
Installation of a new 4-section garage door with a lifetime guarantee on the new high-strength galvanized steel tracks (reuse of the opening motor). The new door must have minimum R-12 rated insulation, pinch-resistant inter-panel heat seals, and two coats of factory-applied paint. Windows on the top panel should be ½ inch insulated glass with hardware included (urethane ball bearing wheels and galvanized steel hinges). Take the time to look at other homes for sale to see if there is a competitive advantage.
Minor Kitchen Upgrade:
For your dated but fully functional 200 square-foot kitchen with 30 linear feet of kitchen countertops and cabinets, you can save money before selling a home by ditching existing cabinet boxes, but replace wood cabinet doors and fronts with new hardware. Replace laminate countertops, install a new sink and faucet, repaint the entire trim, and remove and replace the flooring. Upgrade your range, stove and oven, and refrigerator with current energy-efficient models. The national average for the work scope described in this document is approximately $ 20,000, with an average cost recovery of 81%.
Before selling a home, remove and replace the existing vinyl siding (1,250 square feet) with a new siding that includes the factory trim at every opening and every corner. Keep in mind that it is better to replace or repair than add or remodel, so continue to siding before adding a master bedroom or master bath. On average, the siding replacement costs $ 14,200, and the recovered amount is $ 11,700, which gives you an 80% cost recovery.
The average cost of adding a 16-by-20-foot deck is $ 10,000, and you can expect to recover approximately $ 8,100 of the cost, which is approximately 81%. The scope of this work involves three steps to qualify and includes a built-in bench and planter. Be sure to use pressure-treated deck boards, pressure-treated beams supported by 4×4 posts anchored to concrete piers. The railing system must also use pressure-treated lumber, posts, railings, and balusters. If you plan to sell a home in the spring or summer, this can give you the edge you are looking for.
Here we come to the end of this article. We have discussed some popular and valuable home improvement ideas in this article. Keep these in mind while improving your home designs.