When it comes to home improvements, there are two big factors to consider when figuring out where to put your money: whether it’s something that will increase the value of the house to you and whether it’s something that will increase the value of the house to others, if and when you decide to sell your home. The most valuable home improvements are those that increase your home’s worth in fair relation to the amount you spent on them. And while the improvements that might be most worth it for you personally are subjective and hard to quantify, you’ll want to know what will give you the biggest bang for your buck. Here are 6 improvements to focus on.
Upscale garage door replacement
It may not be the most exciting upgrade, but replacing your current garage door with an upgraded model will yield a higher return, approximately 93 percent return across the nation. Now that’s money well spent.
What constitutes an upscale garage door? Today’s best garage doors are those built with durable materials like steel, wood composites, and aluminum, and that have high-performance additions like energy-saving glazing and insulation. Wood is a classic choice aesthetically, though it’s not quite as weather-resistant. If you really want a wood garage door, get the best of both worlds by looking into fiberglass or wood composite, which can have the same appearance as wood without the downfalls of the material.
Manufactured stone veneer on exterior
Another exterior home improvement that offers a strong return on your investment is enhancing the exterior of your home with manufactured stone veneer. A manufactured stone veneer isn’t really stone at all—it’s a man-made composite material shaped in molds. It has the same look as real stone, however, and is installed in the same way. It’s a great way to boost curb appeal and update an old or boring exterior. Even doing just a portion of your home (for example, the area around your front entry way) is enough to reap benefits. According to recent home studies, the national average return on investment for manufactured stone veneer is 97.1 percent.
Seeing a pattern here among the best home improvements? The renovations that give you the most value tend to be focused on the exterior of your home. And when it comes to your backyard deck or patio, wood or Trex deck is the way to go. Composite decks are easy to take care of and maintain their newness for longer periods of time than wood. Wood requires yearly maintenance with staining and can fade over time if not treated properly with the weather resistant stain.
We recommend sticking with a 16 foot x 20 foot deck addition, though the right size for your home will depend on the size of your house and your yard. You’ll want to add a railing system as well for added function and stability.
The kitchen is major when it comes to the most valuable home improvements. Buyers often look here first when determining whether a home is worth its asking price, since most people want an upgraded kitchen without having to pay a ton of money to get it after purchasing a house. There are a range of valuable home improvements you can make in the kitchen to fit your particular budget and objectives, from putting in energy-efficient, stainless steel appliances to painting cabinets and installing new countertops.
Interestingly, you don’t have to spend big in the kitchen to get a big return. A minor kitchen remodel will recoup about 81 percent of its cost in average resale value, while a major upscale kitchen remodel will recoup only about 53.5 percent of its cost. The most valuable home improvements in a minor kitchen remodel include modernizing the cabinets and countertops, upgrading to brand new appliances, updating the sink and faucet, and updating the flooring.
Siding and vinyl window replacements
Old, damaged, or deteriorating siding can seriously date the look of your house, and not in a charming way. Fortunately, updating your siding is a valuable renovation, bringing in a cost recuperation of 76.7 percent based on a purchase of 1,250 square feet of siding. Just make sure not to neglect the trim, since it’s an important factor in making your siding upgrade look its best.
And while you’re at it, why not complement upgraded siding with upgraded windows? Low-energy vinyl window replacements provide a pretty similar return to siding at 74.3 percent and will help make sure that your new siding doesn’t clash with dated windows.
A mid-range bathroom remodel (think updated tile, fixtures, toilet, counters, and lighting) will get you a return of 70.1 percent nationally. And like the kitchen, doing more doesn’t equal getting more. An upscale bathroom remodel is only going to get you a 56.2 percent return, and a new bathroom addition just 54.6 percent. It can easily be down with some sweat equity over a weekend, trip to the local hardware store and some valuable pre-planning for an updated design. You don’t have to break the bank to have a beautiful bathroom.
If you have questions about how to make improvements to your home that will bring more $$ and value, we can help. We have experienced DIY home improvement specialists within our team that are knowledgeable about replacing flooring, electrical, paint, home heating systems, fireplaces, deck improvements, and all sorts of home DIY projects. Ask us! We are here to help. There are many ways to improve your home and bring value to your wallet and a higher return in the long run.
751 E. 36th Ave Suite 104, Anchorage
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