When it comes time to put some work in on your home with the hopes of upping the value, not all projects are equal. Some home remodeling projects don’t have great success rates on the ROI (return on investment) as others. For example, it is unlikely that you will see a decent financial return on something added like a swimming pool. Expensive remodeling projects are dangerous right now as you are likely to only see up to half of your expenses recouped. We have however put together a list of some tips and home remodeling projects that have shown to increase the value of your home when it comes time to sell.
Home Remodeling Tips for 2018
- Curb Appeal
Where should you start with your remodeling projects? Survey says, the front of your house, where everyone can see it. Adding to the curb appeal has a very high ROI. Things like upgrading your garage door, adding a wood deck, replacing the roof, windows etc. are all estimated to be a very good investment in 2018.
- Fix or Replace
Do what you can to fix or replace the area in and around your home before adding on and doing a full remodel anywhere in the home. It is a better idea to fix your siding and to continue to improve your curb appeal than it is to start a full remodel on your kitchen right now especially since there is a high likelihood that the next homeowner will probably redo the kitchen anyway.
- Stretch Your Living Space
Fixing up the basement, adding a deck, and adding luxurious touches to current living spaces are very popular right now and these projects show to have a decent return on investment.
Home Remodeling Projects for 2018
The projects below are estimated to give you the most bang for your buck.
- Garage door replacement
Keep up with your curb appeal by replacing your current garage door. It is estimated to have one of the highest ROI for 2018. Now is a great time to replace your garage door, especially if your current one has any damage showing. Potential buyers may question how well you have kept up with the rest of the house based on a bad garage door. The average cost is approximately $3,400 and shows to give you back a 98.3% return! It is also one of the first things people see when they look at
- Manufactured stone veneer
You can also keep up on your curb appeal by adding new siding. While any type of siding offers a new and improved look, masonry veneer will give you the best bang for your buck, with a huge 97% ROI (return on investment). When it comes to siding, you have a lot of options, you can choose from many different types of styles like either brick or stone veneer. You will definitely want to consider having your siding done professionally, this will look the best and offer the best resale value.
- Wood Deck Addition
When you ask homeowners to put together a home remodeling wish list, a deck is usually high up on that list and fortunately, 2018 is a good time to add one! The average cost is approximately $11,000 with an average return of 80%. Real estate agents love good decks that are well designed because they are a great selling point. Wood decks specifically see a high ROI with cedar and redwood being at the top of that list.
- A Minor Kitchen Remodel
Remodeling your entire kitchen can often be one of the most expensive spots in the house to do a full remodel on. If you’re looking to add value and keep your ROI high, doing a minor renovation could be just the thing you’re looking for. The average cost of a minor kitchen remodel is about $21,200 and homeowners can expect up to an 80% return. A minor renovation can include replacing things like cabinet doors, drawer faces, hardware, countertops, oven tops, refrigerator, and sink. You can also repaint the trim, replace flooring etc. A full kitchen remodel shows to only offer a 60% return.
- Window Replacements
Replacing your current windows for something more modern can be an excellent investment and will add to the selling points of the home and curb appeal, especially if your current ones are outdated. Also, adding energy efficient windows will add possible financial savings for you while you are still in the home as you save on energy costs.