When preparing your home for the market, you may see many projects that would improve, and appeal to perspective buyers. You may also be tempted to pick expensive materials, and take on lager projects, thinking these updates will allow for a higher asking price.
Home improvement projects can increase the value of your home. However, some projects offer a bigger bang for the buck than others. Remolding Magazine’s, 2015 Remodeling Cost vs. Value Report, claims that small and exterior projects offer the most return on investment, and greatest value for your money. Below is a list of their recommended home improvement projects that offer the greatest return on your investment:
- Steel entry door replacement: A new entry door will recoup 101.8% of the cost at the time of sale. In addition, with an average cost of $1200, replacing your front door is one of the least expensive project outlined in the report.
- Manufactured stone veneer. While this is one of the more costly projects, with an estimated price tag of $7000. However, you can plan on recouping 92.2% of these expenses.
- Garage door replacement: Adding a mid-range garage door will return 88.5% of its value, while an upscale door will return 82.5%.
- Home siding replacement: Fiber cement siding will return 84.3% of the cost. Vinyl siding will recoup 80.7%.
- Wood deck addition: Plan on recouping 80.5% of the cost of adding a new deck to your home.
- Wood windows: Replacing your old windows, with new wood windows, will return 78.8%.
- Minor kitchen remodels: Kitchen remodels can be expensive, but do add value to your home, and and appeals to perspective buyers. You can count on a 79.3% return on a kitchen remodel that costs $19,226.
- Major kitchen remodel: If you are tempted to do a more expensive, major kitchen remodel, the return on your investment is considerably lower, with a return of only 67.8%
- Bathroom remodel: Remolding your bathroom will return 70% of remolding expense.
The Kahler Team has years of experience, and knows which improvements will return the greatest value. We understand the local market, and available inventory. Most importantly, we know the local trends, and what home buyers want.
If you are thinking about putting your home on the market, the Kahler Team can assist you with preparing your home. We will counsel you on areas such as suggested home improvements, project materials, recommended contractors, and home staging techniques. Our goal is to present your home to perspective buyers in the best possible manner, returning the greatest value on your investment. Call us today! We are committed to selling your home quickly, for top dollar.
Source: The Residential Specialist, April 2015