When home sellers are looking at the best remodeling projects to increase the value of their home, some research is a good idea. The ROI (Return On Investment) factor can attract buyers through curb appeal and if wisely chosen, the cost for the improvements can increase profits.
Here are the TOP 10 Home Improvement Projects value according to the Remodel Magazine 2017:
- Attic insulation tops the list - 107.7% *
- Entry Door replacement (steel) – 90.7%
- Manufactured Stone Veneer – 89.4%
- Minor Kitchen Remodel – 80.2%
- Garage Door Replacement – 79.6%
- Siding Replacement - 76.4%
- Deck Addition (wood) – 71.5%
- Two-Story Addition – 71.1 %
- Family Room Addition – 69.3 %
- Roofing Replacement – 68.8%
According to the website www.thisoldhouse.com your choice of which project, the materials you choose and the value of the other homes in your neighborhood, can determine what a buyer is willing to pay. The article says buyers look at kitchens and bathrooms first, though these rooms may be the most costly to redo. Swimming pools and home offices hardly ever return their costs. Expensive projects may not have significant pay back and minor improvements can reap significant rewards. Remodeling Magazine’s analysis offers that a “facelift” (refinishing cabinets, new paint colors, new appliances and flooring) will have better return than a major redesign.
Personal taste is a factor to be carefully weighed, as buyers may be “turned off” by someone else’s idea of style. Keeping the original style of the house while updating will serve you better than expecting someone to pay for your personal tastes. Adding a room that doesn’t follow the style of the original house might not give you the ROI you’re looking for, but an addition that keeps the integrity of the house can increase its value.
Resource: http://www.remodeling.hw.net/cost-vs-value/2017/pacific/
