Many of our customers find themselves either about to put their home on the market, or looking at ways to fix up a new home before moving into it. If you are in this position, here are some home remodeling projects that are worth your time and money:
1. Window replacement. Although it can be a little pricey up front, replacing your windows increases the energy efficiency of your home and yields high financial returns. For example, switching double hung windows with insulated wood replacement windows costs about $11,000, and returns about 80% of the money invested into this project. Insulated vinyl replacement windows are about $10,000 and return about 79% of the money put into them.
2. Minor kitchen remodel. Initiating a minor kitchen remodel (new countertops, appliances, sink, faucet, cabinets, and hardware) is a good idea, especially if you are looking to sell your home. This is because potential homebuyers often overestimate what it would cost to update the kitchen, so are less likely to buy if they feel that the kitchen needs work. On average, a minor kitchen remodel costs about $19,000. Though this is a lot of money up front, the project returns an average of about 83% of its cost back into the value of the home, and makes your home more appealing to potential buyers.
3. Garage door replacement. You can greatly enhance the curb appeal of your home by upgrading your garage door. On average, this costs about $1,500 and returns about 84% of the money spent on this project.
4. Converting attic space to a bedroom. Renovating the space in your attic to create another bedroom is an excellent way to increase the value of your home. Renovating within the walls of your home allows you to create extra space without having to spend money on building an addition or expanding the roof and foundation of your home. Converting attic space to a bedroom typically yields about an 84% return of the amount spent on this project, so is well worth the expense.
5. Adding a wood deck. This project costs about $9,500 and returns about 87% of the money spent on it. Adding a wood deck is an easy way to increase the value of your home without having to fork out too much money in the long run.
6. Front door. If chosen carefully, a steel front door replacement can greatly enhance the curb appeal of your home and on average, adds about 97% of the amount you spent into the value of your home.
7. Siding replacement. On average, it costs about $11,500 to replace 1250 square feet of siding with new, vinyl siding. In addition to making your home look more appealing from the outside, this project will return about 78% of the amount spent into the value of your home.
8. Basement remodel. Finishing the lower level of your home to include an entertainment area and bathroom costs about $63,000. You can expect to get about 78% of the project’s cost back when you sell your home. In the meantime, you have the added enjoyment of extra living space.
There are lots of home improvement projects out there, and many of them can be quite expensive. If you are looking to sell your house or are in the process of remodeling a home to move into, these are just a few projects that will allow you to get the most bang out of your buck!