Some people may want to renovate because they want to get the most out of their house, or want to enjoy a change of scenery. But, at the end of the day, most people want something that will make their house more valuable and attractive in the event that they want to sell. This is why every renovation has to be an investment. This is also why you should look at what kind of return you can expect so you can understand the true costs of renovating. Let’s take a look at some of the remodeling projects with the greatest return on investment.
Renovating Your Garage Door
This may not be the sexiest renovation, or the first one people think about, but you’d be surprised at how cost-efficient switching your garage door could be. That’s mainly because of the small initial investment required. You can expect to pay around $3500 for the average garage door, but recuperate almost all of it upon sale. This is also a great option if you’re trying to improve your home’s curb appeal and reduce the time it spends on the market.
Sensible Kitchen Remodel
Emphasis on the word ‘sensible’ here. Extravagant kitchen remodels can be a nightmare and not only not give you a return, but hurt your property’s value. These often end up being too personalized and may not even have functionality in mind.
Maybe you always thought that a kitchen couldn’t be complete without a big kitchen island right in the middle. But your buyer may not want to use the kitchen as a meeting place at all and only wants to be able to move freely. In this case, the kitchen island could be a major deterrent.
Kitchen remodels also have to be performed professionally if you want to get professional results. And you have to go with a local contractor that understands the trends in your market. If you live in Minneapolis for instance, go for a Minneapolis remodeling company that is well-established and understands what people are looking for in a house in the city. You also want to make sure that the kitchen’s style is consistent with the rest of the house.
Adding a Wood Deck
If you want something you could potentially do on your own, you should definitely consider going for a deck if you can. Decks are one of those things where you can’t go wrong, and most people will appreciate one. On the other hand, few people will turn down a house because it has a deck. Many will even expect to see one.
Building your own deck could cost you well under $3000. If you decide to have one built for you, you could get one for around the $10,000 mark. However, you could expect to recuperate about 80% of those costs upon sale.
Conclusion
These would all be very smart renovation ideas if you want something that will add to your house’s esthetics, functionality, and value. Consider all of these options and don’t hesitate to bring a pro in if you need any help.
