Home Renovations to Increase Property Value

1. Garage Door Replacement (106.3%)

The costs of replacing your garage door alone are actually shown to be recouped over 100%! However, converting your garage into additional living space such as a bedroom, office, or even into an apartment can also increase your home’s value.

2. Midrange Kitchen Remodel (79.7%)

Modernizing your kitchen with functionality in mind will improve your daily life while increasing the saleability of your home. Minor changes like new cabinet fronts and replacing outdated appliances will recoup more of your costs than installing a whole new kitchen with high-end features like granite countertops and hardwood floors. Sometimes even painting the cabinets and installing new knobs will go a long way!

3. Fiber-Cement Siding Replacement (77.6%)

Fresh, modern siding is one of the best ways to up your home’s curb appeal. Fiber-cement siding, in particular, is a great investment considering it can help to control energy cost while also being resistant to fire, moisture, rotting, and termites. It’s especially important to update your siding since it’s common practice for appraisers to examine your property’s exterior when assessing the structural elements of your home. In our market, stucco can be a turn off so replacing your stucco with siding is a solid move.

4. Wood Deck Addition (77.4%)

A deck increases your home’s usable space and aesthetic value. Consider enhancing your decks with lights, built in seating, or planters. Keep in mind that while using higher grade wood or composite materials will extend the life of your deck, these additional costs may not be recouped when it comes time to sell.

5. Asphalt Shingles Roofing Replacement (64.8%)

If your shingles are buckling, or missing all together, it’s time to replace your roof. Failing to replace an older, faulty roof could result in costly damages, including ruined walls and mold issues. Prospective buyers also appreciate a new roof, knowing it will save them the hassle down the road. If you opt to replace your roof, stick to asphalt shingles, as they are more affordable and provide a better ROI than alternatives such as metal metal roofing.

6. Midrange Bathroom Remodel (62.5%)

Bathroom remodels are one of the most popular home improvement projects.  Your biggest ROI will be updating your tile, vanities, and light fixtures.  I know the thought of tearing that wall down to enlarge the shower or add a tub, but you may not be able to recoup as much of your investment. Keeping the layout and changing the materials is a great way to go.

7. Midrange Bathroom Addition (51.0%)

Too few bathrooms can be a major turnoff to a potential buyer. When considering placement for the additional bathroom, look to underutilized spaces such as guest bedrooms, unused offices, or storage closets. Consider installing the additional bathroom on the primary floor. This is an attractive feature for elderly buyers or those living with an older family member who might want to avoid navigating stairs when possible.

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