Planning out your home remodelling priorities can be hard, especially when you factor in that not all renos get the same bang for their buck. When you’re spending a lot and trying to stretch your budget further, the return on your investment is a significant part to consider when making plans!
The thing is, renovation costs are hard to recoup in the resale, so you’ll have to choose wisely. Here are your best home reno bets in 2019.
Replacing The Garage Door: Simple Home Renos
This might come as a surprise, but garage door replacement is one of, if not the best for getting the most cash back at resale. Many metrics put the amount you’ll make back on a garage door replacement at roughly 97%. This is a lot to recoup, so replacing an old garage door is one of the most cost-friendly changes you could make if you’re planning on selling!
Kitchen Remodelling and Renovations
Potential buyers can instantly see the value of minor kitchen upgrades. These upgrades don’t have to take a lot out of your budget, and can go along way to saving money in other areas: it can include replacing the fridge or stove with new energy-efficient models, upgrading the cabinetry, replacing hardware, repainting, and/or installing a new countertop and sink.
These renovations can make your tired-looking kitchen much more livable, but you’ll see a higher return on investment than any other projects. For kitchen renos, you can expect to make back around 80 percent of the cost you put into it.
Replacing Your Home’s Siding
Weathered, worn-out siding can be a huge problem for your home, and not just aesthetically. If the siding is getting old, it can break easily and be much less effective at doing its job of insulating and protecting your home from the weather. It can be a costly upgrade, but your home will be in much better shape – and look much better when it’s time to put up the “For Sale” sign. You can recoup up to 75% of the costs in the final home price!
Quick Home Renos: Wooden Decks
Adding a wood deck to your backyard can improve the utility of your backyard, making it a big improvement to the home in the eyes of potential buyers. Installing a deck from no starter can cost upwards of $10,000, but it has a lot of advantages. You and your family will get a lot of use out of it, and you can end up getting up to three-quarters of your costs back when you resell your home.
Vinyl Windows As A Home Update
If you’re updating your home’s exterior with some new siding, consider upgrading the windows while you’re at it. Replacing your current frames with vinyl windows will make sure that your new siding matches with the frameshaved these home renos have a pretty good ROI at roughly 75%. If your windows are very old, replacing them with vinyl will also help you save on energy costs, another big plus when listing your home. Contact us if you have any more questions or inquiries with any of the above ideas.