If you want to get your money's worth out of home renovations, you don't have to undertake a costly overhaul. Instead, many projects can be done to enhance your house for a bit of cost and in a short amount of time. Here, we discuss ways to increase your home's worth via renovations.
We have compiled a list of the five greatest return on investment (ROI) home upgrades, whether you want to sell your home soon or make it more valuable.
1. Garage Door Replacement
97.5% ROI
Incredibly, a homeowner may recoup almost all their garage door repair costs via increased property value. According to the study, replacing a garage door may significantly improve a home's resale value and exterior appeal. As an added bonus, it yields substantial profits during the property sale. Spending $3,000 on a garage door will increase the value of your property by $2,925. According to the data shown here, garage doors are an integral feature of every house. Therefore homeowners should give them the attention they deserve.
2. Manufactured Stone Veneer
94.9% ROI
Kitchen and bathroom renovations may take a lot of time and money, but there are other ways to make your investment pay off, such as installing synthetic stone veneers to improve the property's curb appeal. Installing a moderately priced stone veneer will cost $8,907, but you may expect to recoup approximately 95% of that cost when you sell the house. The plan is to install 300 square feet of artificial stone veneer over the bottom third of the home's street-facing exterior.
3. Minor Kitchen Remodel
80.5% ROI
The return on investment for even modest kitchen renovations has consistently been relatively high. Even in this shaky economy, updating your kitchen with a few key features makes sense. Improvements such as painting the cabinets, installing a new countertop, or purchasing new appliances may significantly affect your home's value. The most significant thing is that little changes to your kitchen won't impact your daily life.