Home improvement projects are exciting and help you make your house truly the home you want it to be. But if you’re thinking about sprucing up your home, it’s important to do so with an eye toward how much those projects will retain their value.
Whether you’re looking to sell your home in the near future or sometime down the road, choosing projects that will give you a good return on your investment is always a good plan.
Many people think that adding a room or remodeling interior spaces is the best way to add value to their home, but some of the projects that offer the biggest return on investment are actually outside your home.
Here are five home improvement projects you can do that will pay off in the end.
1. Upgrade the exterior of your home.
Curb appeal makes a difference. Whether you replace your garage door or replace wood siding with vinyl siding, improving the exterior look of your home will endear you to the neighbors and provide a great return on your investment.
According to Remodeling Magazine’s 2023 Cost vs. Value report, replacing your garage door or your entry door has a more than 100% return when you sell your house.
Similarly, adding a manufactured stone veneer provides a more than 102% return. If you replace wood siding with nearly maintenance-free vinyl, you’ll recoup nearly 95% of your investment.
2. Spruce up the kitchen.
A major kitchen remodel is a great idea if you’re staying in your house for a while and you want a new kitchen. But if you’re looking to move soon, making some minor changes might be a better option.
The Cost vs Value report shows that a minor kitchen remodel returns 85.7% of the investment while a major remodel recoups just 41.8%. Simply painting or restoring cabinets, installing new countertops, and upgrading the appliances can give you a whole lot of bang for your kitchen remodeling buck.
3. Replace your windows.
Installing energy-efficient vinyl windows is a quick way to upgrade both the interior and exterior of your home, creating a clean, fresh look throughout your house.
Vinyl windows also help create value in two ways. First, better windows mean lower energy bills in both the winter and summer months. In addition, upgrading your windows provides a nearly 70% return on investment, according to the report, adding value and beauty to your home both inside and out.
4. Give your bathroom a new look.
Nothing shows a house’s age more than an outdated bathroom, but remodeling your bathroom not only provides better amenities for you, it’s a great way to add value to your home.
For a quick bathroom update, change out the fixtures like towel racks, faucets and cabinetry handles and pulls. However, if you want to go for a full remodel, you can expect to make back about 67% of your investment.
5. Make your backyard a destination.
More and more people want their backyards to be essentially an outdoor room. Add a deck and creative, colorful landscaping to make your backyard more than just a place for the kids to play.
In addition, a wood deck is a pretty good investment, giving you a 50% return on your investment.
Home improvement projects can be expensive and time-consuming, so you want to know that the money and time you invest is well-spent. In addition to these five projects, converting your HVAC system to an electric heat pump can return more than 100% of your investment, and replacing your roof with asphalt shingles lets your recoup more than 60%.
And if you’re in need of more space and want to add on a room, you can expect to get back about 30% of what you spend on a new bedroom or bathroom.
No matter what home improvement project you decide on, Bordner Home Improvement is here to help you transform your home.
Contact us today for a free consultation!
