When it comes to home improvement projects homeowners are always looking for ways to improve their own quality life while increases the market value of their homes. Not all renovations are created equal when it comes to their return on investment. Although a sunroom might bring you enjoyment buyers may look at it as a waste of space that could have been better utilized as an additional bedroom.
Renovations with a Solid Return on Investment
When it comes to recouping your money on renovation projects nothing has a better return than entry way improvements. A new front door, especially one made of steel can add more money to the equity of your home then what it actually costs. Steel doors are three times more affordable then fiberglass and are just as attractive and energy efficient.
A new front entry door, along with an updated rug, fresh seating and colorful flower pots can really increase the exterior appeal of your home. As for the interior, add a fresh coat of paint and some careful organization to hide the hideous amount of shoes and coats that usually clutter the space. Updates to the entry of your home are a solid renovation that can turn a profit for homeowners.
Curb appeal sells homes. Exterior renovations add top dollar to the market value of your home. Aluminum fencing and vinyl siding are two exterior upgrades that have a high return on investment. Both work to add to the curb appeal of your home. Aluminum fencing can be purchased in a variety of styles and colors to enhance your home’s exterior. Adding aluminum fencing to a landscape that is well kept shows buyers that homeowners care for their home. This alone adds to a home’s market value. A home that is maintained appeals to buyers and makes a home easier to sell.
Renovations with a Weak Return on Investment
Certain home improvements are costly and bring in a small ROI thus should be avoided unless it will supersize the enjoyment that the home brings to homeowners. If working out of your home is a convenience for you a home office may be a renovation that is considered. Don’t expect the space to increase the value of your home nearly as much as it cost you. This however, might not deter you from the renovation but it is something to consider when determining the budget for the project.
The same can be said for garage additions, backup generators and sunrooms. If the renovation is going to be something of value for you as a homeowner then it may be something to consider but don’t look to increase the value of your home with these.
If you are a homeowner looking to only invest a little bit of money into home renovations but wish to greatly increase the value of your home the best place to start is with the exterior of your home. The updates to curb appeal will truly enhance the value of your home. On average exterior renovations recoup nearly one hundred and twenty five percent of the projects overall cost.
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