Best Return On Value?
Remodeling: The 3 Improvements to Increase the Value of Your Home
When it comes time to sell your home, many sellers look to remodeling as a way to not only attract potential buyers but to raise the value of their home. It’s important to note, however, that not all remodeling endeavors are created equal! The 2015 Remodeling Cost vs. Value Report points out that large-scale remodeling jobs aren’t likely to return sellers their full cost. Here are some of the most rewarding remodeling projects that will not only bring you a good return on investment, but they are cost-efficient and relatively low-maintenance:
- First impressions are key: The remodeling projects and replacements that offer the greatest return on investment are the ones that are most obvious to potential buyers when they first view the home online or in person. Simple things, like replacing your front door, garage door, or even siding, really stand out to buyers.
- Kitchen upgrade: This does not mean that you need to do a complete demolition of the entire kitchen. It’s suggested that sellers do minor kitchen remodeling, one that keeps the costs down. Some projects to consider are getting new flooring, new countertops, and modestly priced appliances.
- Deck & patio additions: The fondness of outdoor living & living space is on the rise, meaning that adding a deck or patio to your home will offer that much more appeal to a potential buyer. Decks and patios are a relatively low cost remodeling project, costing roughly $8 to $35 per square foot, whereas the cost of a new addition to your home could be a whopping $150 per square foot.
While there are many cost-efficient remodeling options, the above mentioned projects can bring anywhere from 82% to 101% in terms of cost recouped at the time of the home selling, according to realtormag.realtor.org. So if you are considering selling your home I highly suggest you explore one or more of these remodeling projects! Call me for information on the best contractors and designers in our city.