A magazine for the construction industry known as “Remodeling” conducted a cost vs. value report that examined which remodeling projects have deliver the highest return for people interested in getting the most money out of their home sale. Here are five remodeling projects that should bring you the highest return on your investment.
Garage Door Replacement
The average garage door replacement project rocoups 98.3 percent of the cost, because the average cost of this project is $3,470 and the average resale value it brings is $3,411. This project specifically involves taking a 16 by 7 foot garage door and replacing it with a new four-section door that has heavy-duty steel tracks. You will recoup almost all of your money in your home sale, according to the report.
Stone Veneer Installation
If you install a manufactured stone veneer to your home, you will recoup just over 97 percent of the costs when you sell your home, the report asserts. It’s considered a huge aesthetic improvement that will increase your resale value by almost $8,000.
Steel Entry Door
If you replace a standard entry door with a 20-gauge steel door that featured clear dual-pane, half-glass panels, the jambs and an aluminum threshold, you’re likely to increase your home value by over $1,300. This project costs an average of $1,471, but it also something that could be done by an experienced DIY enthusiast to recoup even more money when you sell your home.
Adding A Wooden Deck
This expensive project can increase your average resale value by over $9,000. Now, it will cost you nearly $11,000 to have this project done, but you can save a bundle if you know how to install a deck yourself. In Florida, you reserve the right to DIY projects, provided you still go through the permitting process. The project that it looked at involved installing a 16 by 20 foot deck and railing system with pressure treated wooden posts.
Simple Kitchen Remodel
This is another great project for a DIY enthusiast willing to go through the permitting process. A 200 square foot kitchen remodel with 30 linear feet of cabinet updates, new laminate countertops, a mid-priced sink and faucet replacement, re-painted trim, an vinyl flooring replacement and new energy-efficient appliances should increase your home value by over $17,000. Keep in mind, this isn’t even a project that involves installing expensive floors or fixtures. This is just an average face-lift. You don’t even need to fully replace the cabinets, just swap out the fronts with Shaker-style wood panels and drawer fronts.
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