When we think of home remodeling, sometimes visions of extreme home makeovers with showstopping results can pop into our heads. If you know your home needs some upgrades, you could easily begin to feel overwhelmed.
But we’ve got good news. The truth is, many times the remodeling projects that reward you with the best return on investment are often less than glamorous, and certainly not overwhelming. Instead, they’re the nuts and bolts that make a potential buyer feel at home when it comes time to put your home on the market.
And these projects are probably more affordable than you think! Let’s count down the 5 best returns on investment when it comes to home remodeling.
5. Garage Door Replacements
Average cost: $1,588
Resale value: $1,206
Average cost recouped: 75.9%
Did you know improving the value of your home can be as simple as switching out the garage door? Nothing else; just the garage door. It’s a low-cost project that packs a powerful punch.
The garage door is likely your home’s entry point and the largest exterior component—in fact, it can take up 30% of the front of your home.
When you upgrade this space, you’ll dramatically enhance the all-important curb appeal your potential buyers use to form their first impressions. You’ll easily elevate the overall look of your home, all while staying within your budget.
4. Minor Kitchen Remodels
Resale: $15, 177
It makes sense that kitchen remodels are some of the most popular home remodeling projects in the nation right now. The kitchen is often the most heavily-used area in the home, where families congregate and friends socialize.
It’s also one of the rooms potential buyers will be inspecting most closely.
Remodeling a kitchen doesn’t simply improve the look of your home and increase your property value, it can also increase function and lower your energy consumption.
Even better news: smaller-scale kitchen renovations are often the most successful. Don’t stress out about creating an entirely new kitchen space. Instead, focus on improving what’s already there. For example, maybe instead of replacing all your cabinetry, new cabinet veneers can improve the visible surface of your existing cabinets.
These kinds of smaller home remodeling projects take very little time are likely to have huge payoffs.
3. Steel Entry Door Replacement
Resale value: $1,043
Average amount recouped 79.5%
Any homeowner knows the front door gets a lot of use. It welcomes your guests and keeps your home and family secure. When your current door starts to show unavoidable wear and tear, replacing it with a new steel door can skyrocket your home’s curb appeal and provides a great return on investment.
It’s an incredibly simple way to make transform the look and feel of your home while also improving energy efficiency, which is becoming increasingly important to today’s homebuyers.
2. Manufactured Stone Veneer
Job cost: $7,490
You may already be familiar with the increased curb appeal and instant elegance that comes with natural stone siding.
But homeowners are increasingly turning to manufactured stone veneer, a lower-cost alternative to improve the exterior of their homes.
One of today’s most popular home remodeling projects involves adding this versatile material to your home’s exterior. Manufactured stone veneer weighs about one-third to one-half as much as natural stone veneer, and it’s far less expensive to install.
Bonus: it’s available in just about every texture, shape and color you can imagine.
1. Attic Insulation
Average upfront cost: $1,248
Average resale value: $1,193
Average cost recouped: 95.6%
The best return on investment when remodeling your home comes with attic insulation.
Potential homebuyers love this gift that keeps on giving. Proper insulation in your attic is one of the easiest ways to stay warm during the winter and stabilizing the temperature in the summer. The Department of Energy estimates that it can even lower your heating bill by 10 to 50 percent. Plus, the savings you’ll get add up every year.
While installing attic insulation could potentially be a do-it-yourself project you could knock out in a weekend, hiring professionals carries reasonable upfront cost that’s sure to almost completely pay for itself.
Future Home Remodeling Trends
The possibilities for improving your home’s value are surprisingly affordable and within your reach. Just remember that what’s popular in home remodeling trends tends to change once about every five years— so be sure to take stylistic depreciation into account.
Otherwise, don’t forget to have fun along the way as you invest wisely and make the very best of your home.