Although home renovations can make our lives a little happier, they can also add value to our properties when it’s time to put them up for sale or refinance. Some of the most common home improvements that can get expensive are kitchen upgrades, bathroom renovations, and new decks. Before starting a project, it’s essential to know the return on your investment. This is because, depending on the project’s cost, it can impact the asking price of your home.
Install New Garage Doors
Getting a good-looking garage door is one of the essential factors you consider when it comes to improving the look of your home. This project can be done in two phases: first, it involves removing and disposing of your old garage doors, and second, it consists in replacing them with four-section steel tracks. This can give you a 93.3 percent return on your investment, which is more than enough to cover the project’s cost.
Replace Siding with Stone Veneer
Stone is known to give a classic and elegant look to any home, and replacing your old vinyl siding with a stone veneer can help enhance the curb appeal of your property. The average cost of this project is around $11,000, including the installation of 36 linear feet of stone veneer, 40 linear feet of corners, and one address block. Almost all of the project’s cost was recouped by the client.
Remodel Your Kitchen
One of the essential factors you can consider when it comes to improving the look of your home is the kitchen, as it can provide you with a more functional and modern space that can enhance your enjoyment of cooking and entertaining. A minor kitchen remodeling project can be a strong selling point for potential buyers. It can involve replacing old appliances with more energy-efficient models, adding new flooring, and painting the walls. Most of the time, minor kitchen renovations are carried out mainly for cosmetic reasons. They can give you a 71 percent return on your investment, which is more than enough to cover the project’s cost.
Replace Your Siding
Replacing your old siding with high-quality materials such as fiber cement can help improve the look of your home and increase its value. The average cost of this project is around $22,000, and you can expect to get back over two-thirds of that investment once your home sells. The new siding includes 4/4 and 5/4 trim, fractions measuring thickness. Replacing your old siding with a more budget-friendly material, such as vinyl, can still give you a high investment return.
Windows are one of the essential factors you can consider when it comes to improving the look of your home. If you’re planning on replacing your old windows, you have a couple of options that can help you achieve a good return on your investment. One of these is the installation of low-E, split-light, and custom-colored vinyl windows. Before you start replacing your old windows, ensure that the low-E and interior trim are intact and match the existing ones. This can help keep the costs within range. If you’re planning on doing the same type of renovation but want to make the frames out of warm wood, you’ll have to spend around $24,200.