As time passes by, the real estate market changes. For instance, insulation was a popular project in the early 2000’s, but today barely stands in the top 10 list. What modern homebuyers are looking for in 2019 are upgrades linked to energy efficiency and curb appeal.
That’s why upgrades mostly done on the exterior or those linked with windows and doors are the ones that will bring the most value to your home. According to recent statistics, here is what you should consider for increasing your value:
- Window Replacement
The renovation project that can add the most to your home’s value is window replacement. Determining energy efficiency, curb appeal and UV damage, windows carry a large role for your home. The style, material and size will either save rooms or make them a disaster.
Modern new windows have extraordinary impact resistant glass, framing material that lasts a lifetime and enormously high heat retain. This is why modern homebuyers are especially astonished by new windows and doors. To spice things up even more, you can add skylight, bay or picture windows.
- Garage Doors
Surprisingly for some, the renovation project with the highest ROI is garage door replacement. The average percentage is 98%, however, there have been situations where a new garage door has entirely paid for itself and plus added a few extra bucks in a homeowners pocket.
Depending on size, material and type, you can purchase a new garage door from $500 to $3700. The return will also vary according to purchasing price, but if you play it smart, with a few decorations, a paintbrush and a cool opening mechanism, you can make your garage door like a thousand dollars more.
- Door Replacement
Besides garage doors, another project that can doesn’t cost much, but adds ton of value to your home is front door replacement. Curb appeal really does determine the amount of money a buyer is willing to spend. If your home’s exterior looks are in top shape, the interior will almost go unnoticed.
The type of front door that will add the most value is steel. Wood and fiberglass will seal the deal as well, but not as much as this material. Steel is known for its strength and aesthetical appeal. That’s why modern buyers are craving for it.
Note: Remember to spice up your entrance with hanging plants, benches, lighting, canopies and color symmetry. This will make your front look more expensive, thus you gaining more value.
- Hardwood Deck
Having a large backyard is a home value increaser on its own. However, homes that have neatly organized and decorated yards will gain much more on selling day. One of the projects that improves value is installing a hardwood deck. If you already have it, try to expand the area because more footage always means higher value.
Unlike the other projects, this one isn’t that cheap. Its average cost is $10 000, but homebuyers love it so much that at the end of the day, you can get a ROI of 85%. This means that your home’s value can increase by $8500.
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