Sure, most anything you do to improve your home will likely increase its value. All home improvements, however, are not created equal. Some improvements have been tracked to determine which investments will provide the greatest return. Here is a look at what the experts say are the improvements most likely to give you the best ROI.
Replacing a Garage Door
While not inexpensive at about $3,900, a new garage door can provide a return on investment of almost 95%. This is particularly true if a current door is showing its age. A garage door is the biggest moving part of a home and can be well worth the money.
A Manufactured Stone Veneer Exterior
One of the most impressive ways to improve curb appeal is through a manufactured stone veneer upgrade. At $10,000+, professionals estimate your return will be about 93%. It can also help you sell your home quicker.
A Modest Kitchen Upgrade
Real estate agents will often focus on kitchens and baths, and while important, you have to be cautious about spending too much. A minor kitchen upgrade can return 72% of your investment at resale. Larger than $25,000 investments in kitchens will see diminishing returns.
Fiber Cement Siding
Fiber cement siding won’t rot or warp like wood siding and it is maintenance-free. It not only looks great but can return about 7 cents on every dollar you invest in it.
New vinyl windows look great, insulate you from sound and weather, and improve security. Homebuyers love homes with new energy-efficient windows and homeowners can expect about a 70% return on an average $19,000 investment.
Vinyl siding is durable, long lasting, maintenance free and attractive. An average $16,000 investment in vinyl siding should return about 68% of that investment.
A wood deck can actually give you a greater return on investment than a composite one. A wood deck should return about 66% on each dollar invested while a composite one should return a bit less at 62%.
Making wise investments in your home is important to avoid overpaying. The same is true with home insurance. There is no reason to overpay when all you have to do is contact one of our independent insurance agents. They’ll do the shopping for you! Connect with one of our professionals today.
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