The widely renowned and trusted Cost Vs. Value report put out by Remodeling magazine compiles home data to determine which home renovations get you the best return on investment when you go to sell your home. Here are the top 10 items that will get you the best return on investment. Consider these in your plans for your next home renovation project. All of the figures below represent the southeast of the U.S. to give us a clearer picture for the Palm Beach market.
- Entry Door Replacement (steel door). If you decide to upgrade or replace your front door to a steel front door, you can expect to pay (per the report) around $1,166. When it comes time to sell your home, you can expect to recoup 112% of that spend! Particularly for the southeast of the U.S., that's 11 points above the national average.
- Stone Veneer. Spending approximately $7,076 on getting stone veneer put on the outside of your home will recoup 93% of that cost upon time to sell your home. Curb appeal makes a big difference to home buyers and this is one of those aspects you can do to make your home look more appealing.
- Replacing the Garage Door. This again goes back to curb appeal. Replacing your garage door will cost you approximately $1,517, but you will see 96% of that cost recouped in the sale of your home.
- Adding a Wood Deck. Giving a space for people to enjoy the outdoors will cost approximately $9,310, but you will recoup 83% of that cost upon the sale of your home.
- New Vinyl Siding. Putting new vinyl siding on the exterior of your home will cost approximately $11,013, but you will recoup 81% of that when you sell your home. A fresh looking exterior is crucial to curb appeal.
- Window Replacement (Wood). Updating the windows of the home is a structural thing home buyers do not want to worry with. Doing this will cost your approximately $10,773, but you will recoup 81% of that cost upon the sale of your home.
- Putting a bedroom in the attic. Buyers always appreciate an extra bedroom. Turning unused attic space into another bedroom will generally cost approximately $47,117, but you will recoup 79% of that cost upon the sale of your home.
- Minor Kitchen Remodel. Spending approximately $18,064 for a kitchen remodel will net you a 77% return. As kitchen remodels are one of the most popular home renovation projects, this shows that you should keep your budget in check during your kitchen remodel and not splurge. Take that extra budget and spend it on your curb appeal.
- Bathroom Remodel. Spending approximately $15,314 on a bathroom remodel will net you a 72% return. If you notice, this is almost as much as you would spend on the kitchen remodel. If you are budgeting funds, spend more on the bathroom than the kitchen.
- Roofing Replacement. If the roof needs to be replaced in your home, do it before you put it up on the market. This is a structural thing home buyers do not want to have to worry about. A new roof will cost approximately $18,332 but will net a 72% return upon the sale of your home.
One thing we can take away from this list of the top return-on-investments for your home is to spend it on curb appeal. The first impression makes a huge difference with home buyers. We hope you utilize this list to help prioritize your next home renovation. To see the full list and results, click here to view the Cost vs Value report. Call Steve Cury Construction to help you with any of your home renovation projects. We have the experience, know-how and resources to get your project done the way you want it. Call us for a free estimate today: (888) 240-1192.