Home renovations can improve the value of your property, but some have a better return on investment than others. Remodeling Magazine has released their reports for 2019. Their findings share the cost vs. value of popular home improvement projects.
Here are some home renovation projects that are worthy investments.
First impressions mean everything. You want to love your home every time you pull up the driveway. If you decide to sell, you want potential buyers to love it too. Let’s start with exterior renovation projects.
Siding replacement: A siding replacement can recover 75.6% of it’s cost at resale. Spend $16,000 on new siding and expect to see your property value increase by over $12,000.
Deck addition: Everyone loves having a functional outdoor living space! According to the report, a wood deck addition can recoup 75.6% of it’s cost at resale.
Garage door replacement: This might surprise you, but a new garage door replacement has the best ROI compared to all other renovations on the report. Its ROI rate is 97.5%, which is like taking money out of one pocket and putting it in the other.
Your curb appeal includes the state of the yard and landscape. Investing in landscaping will produce a good return on resale. According to this article, a well landscaped home has a significant advantage over a home in the same market without landscaping improvements. This value-added can range from about 6% to 13%, depending on the original value of the home and the type of landscaping it has.
A thought-out landscape design that includes beautiful pathways, retaining walls, garden beds, patios and a new concrete driveway can increase your property value. If those components of your home’s yard are damaged or lacking, contact a reputable general contracting company for a consultation.
Windows and Doors
High on the list for home improvements with good ROI are new windows and doors. A new front entry door will recover 74.9% at resale. A vinyl window replacement can recoup 73.4%. Plus, having energy-efficient windows and doors will reduce your home’s energy loss and results in real savings each month. Add that to the value they give your home and you’ll see it’s a great investment.
Click To Find >>>>> General Contractors in Calgary.