If you're thinking of selling your home, want to up your home's value, or are just looking for a change, its important to educate yourself on which home improvement projects will bring you the most return on your investment.
1. Replace Your Front Door
You may not notice your front door anymore, but everyone else will. A new steel door front door can make a great impression on a buyer and yields over 90 percent return on investment. If your door doesn't need replacing, you can achieve a similar impact by painting and/or replacing the hardware.
2. Add a Deck or Patio
No matter where you area located, buyers will want an outdoor living space. Whether its to gather with friends, grill, or read peacefully while enjoying a morning coffee with nature, a deck/patio is just a nice touch. You can recoup over 80 percent of your investment on a new wood deck. If your home already features an outdoor living space, think about pricing it up new landscaping, an outdoor fire pit/place, or even a water feature.
3. Add Space/Attic Bedroom
Depending on goals for your home and your budget, an addition of extra bedrooms and bathrooms, expanded living areas, or even fully finished attic can quickly increase the value of your home. You can recoup over 80 percent of your investment with these as well.
4. Replace your Garage Door
An upscale or midrange garage door can regain over 80 percent of your investment. And with tons of styles, from energy-efficient, to ones featuring glass windows, and the classic plain steel panel, you'll be able to find something thats in par with your style without much trouble.
5. Remodel Your Kitchen
It's no surprise that buyers look most carefully at kitchens and bathrooms, so you should as well. You can get a return of investment of over 80 percent on a minor kitchen remodel and over 70 percent on a major one. However if you plan on selling soon, try not to overspend on the kitchen, instead focus on minor fixes such as painting cabinets, replacing appliances, or replacing countertops with granite.
6. Replace Your Windows
Buyers are interested in 2 major things; how your home looks, and energy efficiency. You can replace vinyl or wood-frame windows and get just under 80 percent return on investment. Be sure to highly this new windows as a selling point.
7. Replace Your Siding
If you find your home needing a major makeover, don't worry. You can typically get back almost 80 percent return on investment by replacing vinyl siding, and if you go with a fiber-cement mix you could be looking at almost 90 percent return instead.
8. Entertainment Areas
If you have an empty room, or one thats barely used, you can remodel this to be more of an entertainment or game area. These go can go a long way with buyers, or just to have a nice area to host guests.
9. Update Your Bathroom
While a full, upscale bathroom remodel can be quite costly, and only add 2/3 of that price to your homes resale, you can make cost-effective minor upgrades. Replace fixtures and mirror, repaint the space, maybe add some molding, regroup the tiles and caulk in the tile/shower/tub areas, or replace/resurface the tub. These could add about an 73 percent return for you.
10. Two-Story Addition
For just over 70 percent ROI, you can add a second-floor bedroom with a bathroom over a crawlspace. Add new HVAC to handle the addition and make sure the wiring is to code.