You may have noticed that your home could use a little more attention. If you are thinking about renovations, then you are also probably thinking about how it will affect your home value. Of course, any positive additions will likely increase the value of your home, but there are certain renovations that offer a greater return on your investment. In this post we will list some of those valuable renovations and how they can transform your home both in person and on paper.
Are Home Renovations Worth It?
If you are wondering whether a home renovation is worth it to you, you should ask yourself a couple of questions.
- What is the purpose of the renovation?
Is the purpose for the renovation out of necessity? Is it for aesthetics? Is it to increase value? These are important questions because you might be prompted to spend more money on a renovation that is necessary rather than one that is only done to increase value. Decide which of these is your primary motivation so you have a better idea of where to begin.
- What is the scope of the renovation?
Having your bathroom painted and having your roof replaced are very different in scope and scale. Once you know how big the renovation is and your motivations for it, you can accurately assess whether it is worth it to follow through.
Best Home Renovations For Value
Garage Door Replacement
A garage door replacement is among the top renovations that you can do for your home. With an average recouped cost of 94.5 percent and a 4% increase in the perceived value of a home, this project is easily one of the most attractive for homeowners looking to add some value to their house.
Manufactured Stone Veneer
With an average cost of $10,800 and an average resale value of $9,741 (a recoup value of 90.2%), manufactured stone veneer is one of the most economical options for a home renovation.
Manufactured Stone Veneer is an expensive option, but it is usually worth it when you regain the majority of that investment back when you resell your house.
Another popular renovation for homeowners are window replacements. Although their average recouped value is not as high as a garage door replacement or manufactured stone veneer, the immediate increase in perceived value makes it a healthy option to consider.
The construction of a deck for your home may be particularly expensive, but it is a great way to recoup 59.2% of the cost while creating a fun place to entertain family and guests.
No matter your renovation idea, if you are considering selling your home, it is important to have a real estate agent that you can trust to guide you through the process so they can help maximize the return on your investment.
Sell Your Renovated Home with Combined Associates
Once you’ve renovated your home, you may think about putting it back on the market. For that, you will need a qualified and experienced real estate agent. At Combined Associates, our real estate agents are of the highest quality and are committed to getting you the best price for your home. Call us or fill out our online form if you are interested in selling your home!