Whether you just moved in or are planning to sell this summer, it’s always wise to choose home improvement projects that will increase your property’s value. Do you know which updates have the best return on investment
Before finalizing your to-do list, check out five midrange projects that got great marks in the Remodeling 2015 Cost vs. Value Report* (www.costvsvalue.com).
1. Steel entry door replacement
Many homeowners today value a place that’s both beautifulandsafe. By replacing your existing exterior entry door with a steel one you can beef up the security of your home and impress future buyers. According to the 2015 Cost vs. Value Report, you’ll typically be able to recoup 101.8 percent of the cost of this project when it’s time to sell.
Tip: Be sure to keep curb appeal in mind. Try to choose a door that matches the finishes on your home’s exterior.
2. Manufactured stone veneer addition
These days many prospective buyers are seeking a high-end appearance in their new home, regardless of their price range. Replacing a portion of your exterior siding with manufactured stone veneer can give your home that luxury vibe – to the tune of a 92.2 percent return on investment, according to the 2015 Cost vs. Value Report.
Tip: Selecting the right stone veneer can be tough. Consider working with a professional designer to choose the right color tones for your home.
3. Garage door replacement
Is your current garage door dingy or dated If you’re planning to sell, updating your old garage door with a more modern and visually appealing model can leave a great first impression on potential buyers. The 2015 Cost vs. Value Report estimates you’ll make back 88.4 percent of the cost, on average.
Tip: Consider garage doors with a wooden finish or a color that matches the trim on your home for the best curb appeal.
4. Vinyl siding replacement
Homes with older siding tend to look, well, old – which can lower the value of your property. If your siding has seen better days, this could be a great year to replace it. This project will give your house an instant makeover and is also a smart investment; the 2015 Cost vs. Value Report found that you’ll be able to recoup 80.7 percent of the cost, on average, when you sell your home.
Tip: Choose a reputable and experienced siding professional to ensure it’s properly installed.
5. Wood deck installation
Installing a deck allows you to expand your living space without the steep cost of building an additional room on your home. It’s a favorite home improvement project for many because the benefits are immediate. And with an 80.5 percent projected return on your initial investment according to the 2015 Cost vs. Value Report, you can enjoy total peace of mind that this was money well spent.
Tip: Protect your new deck by staining and sealing it within one year of installation. Otherwise, it’ll be prone to wood rot and discoloration.